A resounding victory by Argentina's center-left opposition leader Alberto F...
BUENOS AIRES - A resounding victory by Argentina’s center-left opposition leader Alberto Fernández in Sunday’s primary election alarmed investors with the prospect he could roll back President Mauricio Macri’s business friendly agenda if he wins October’s presidential vote.
Macri sought to slow inflation with government spending cuts and strict monetary policy. The central bank sought to dry up liquidity using high interest rates, which reached 74%. Fernandez, who met with Fund officials during the campaign, has said he will seek to renegotiate the agreement but has not provided specific details.
Fernanda Vallejos, an economist and congresswoman from Fernandez’s “Frente de Todos” alliance, told Reuters the candidate was studying measures to limit short-term capital flows “to reduce the levels of vulnerability of the economy.”EXPORT TAXES One of Marci’s most unpopular policies was the reduction of energy and transportation subsidies, a measure that hit the pockets of ordinary Argentines hard.
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