Argentines say they face 'uncertainty' ahead of general election

14 August 2019
2019-08-14 13:41

Supporters of the opposition presidential ticket of Alberto Fernandez and Cristina Fernandez said they were hopeful for the future after primary elections delivered a blow to the chances market-friendly President Macri will be elected to a second term. They also made it known they were wary of uncertainty as markets continue to react negatively to the news, roiling the Argentine peso, and the nation's stocks and bonds. Sunday's results showed Fernandez, a former cabinet chief, was well placed to win October's general election in the first round.

He blamed Macri for the market turmoil. Fernandez has said he would seek to rework Argentina's $57-billion standby agreement with the International Monetary Fund if he won the general election. He has proposed an economic and social pact to combat inflation, which is running at 55%. Macri also said at a press conference on Monday that the opposition should self-criticize its own policies in the wake of the market reaction. Argentine possessions had not recorded the kind of simultaneous fall seen on Monday since the South American country's 2001 economic crisis and debt default, Refinitiv data showed.

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