Argentines have their first chance on Sunday to head to the ballot boxes in a hi...
BUENOS AIRES - Argentines have their first chance on Sunday to head to the ballot boxes in a high-stakes presidential race in which they must choose between staying the course of painful austerity measures or a return to interventionist economics.
Business-friendly Macri is hoping some recent glimmers of economic revival are enough to encourage voters to stick with him despite the current recession and biting inflation. Argentina’s country risk fell 20 basis points on Friday and local Merval index rose 7%. “I don’t think that in the face of another Macri triumph, things will improve. On the contrary, they will get worse,” said Pablo Vazquez, 48, adding that he is worried about losing his job and has noticed more homeless people on the streets.
The severity of market reaction could depend on the margin of victory between Fernandez and Macri, and whether or not the winner netted enough votes to indicate a potential win in the first round of the presidential election in October, Reckman said.
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