MercoPress. South Atlantic News Agency

Peronism is back in Argentina: Alberto Fernández assumes as President

Fernández will find a weakened economic situation for two consecutive years of GDP falling.

Peronism will return to power in Argentina from Tuesday. The political force will do it in the hands of the elected President, Alberto Fernández, who will go to the Casa Rosada, the presidential headquarters, at noon after presenting the oath in the Congress to the outgoing vice president, Gabriela Michetti

Fernández's formula partner, Cristina Fernandez de Kirchner, will be the first to assume the position of vice president starting at 11:30 in Buenos Aires, replacing Michetti, who will preside today at the Legislative Assembly. It will be Michetti herself who will be in charge of Alberto's oath, despite Fernandez de Kircher's intention to do it herself. This was resolved by agreeing to respect article 93 of the National Constitution, which indicates that whoever presides over the Legislature is the one who takes the oath to the new leaders.

However, not everything is a party for the incoming president with the departure of Mauricio Macri, the first non-Peronist president who manages to finish a term.

Fernández will find a weakened economic situation for two consecutive years of falling GDP (ECLAC estimates -3% for 2019, the worst in the region after Venezuela and Nicaragua) and arise in poverty to 40.8%, the highest figure in almost 20 years.

The new president will rush the declaration of the “economic emergency”, a formula that will allow him to make structural changes by decree, without going through Congress. To fight

against inflation, he will call for a great agreement in which trade unionists and businessmen. The former, to moderate their wage demands and price rises, the latter.

Once Macri gives the band and the presidential cane to Fernández, the new president will give his first speech as president of Argentina, written by himself, according to Infobae. It is expected that in his speech he will provide hard data that victimizes his government by the fiscal and economic burden inherited from the Macri administration.

This is due to the payment of the debt from 2020. The “inheritance M” will be the letter to show to justify the mantra that is repeated at this time among incoming officials: that all due dates cannot be met. Just to apply this is what Martín Guzmán has in mind, who will assume as Minister of Economy: extension of payment terms of capital, two years of grace for interests and closing of the entire process in March 2020.

Fernández requested the removal of the fence that served as a dividing barrier between the Plaza de Mayo and the Casa Rosada since the revolts of 2001 so that the square serves as a symbol to “end the divisions and unite Argentina”.

In a 40-minute video, Macri said goodbye on Thursday with a very optimistic balance of his management. In the video uploaded to his Facebook, he limited self-criticism to economic performance and described what he considers the successes of his management: the integration of Argentina into the world, stronger institutions, a more independent justice, energy improvement and reliable official statistics.

As vice president, Cristina Fernández de Kirchner will be leading the Senate. Kirchner has already woven a network of supports that will allow her to control the Upper House without problems. Her son, Deputy Máximo Kirchner, will lead the official bloc in the Lower House.

The last public act of the outgoing president before the delivery of command was Sunday in Luján, interior of the Buenos Aires province. He participated in a Catholic mass for peace celebrated where Macri and Fernández embraced without passion, after four months of tensions in the transition.