Argentina's president-elect Alberto Fernandez pledged to lead the country in a new direction on Tuesday amid a “difficult” domestic backdrop, as financial markets jumped around with investors grasping for any signs of the Peronist's future plans.
Argentine president Mauricio Macri and president-elect Alberto Fernandez met on Monday midmorning at Government House, Casa Rosada, to discuss terms for an orderly transition until next 10 December when the new government takes office, plus exchange names of the two teams that will be involved in the discussions.
Argentines head to the polls on Sunday with the Peronist opposition strong favourites to take back the presidency from business-friendly reformer Mauricio Macri, who has been stung by a tumbling economy and financial crises.
Argentina's front-running candidate for president, Alberto Fernandez, has been asked by advisors within his left-leaning coalition to freeze natural gas and power tariffs and to peg oil product prices to pesos instead of dollars as measures to contain inflation and spur economic growth.
Argentina could be downgraded again by Fitch Ratings if further weakness in the Peso boosts the risk of default, the agency’s head of sovereign ratings said in an interview. Argentina has issued billions of dollars worth of bonds denominated in U.S. currency.
Argentine primary winner, Alberto Fernandez is like the Russian mamushka doll, “you open it and out pops Cristina Fernandez, again you open it and out pops Lula, and again, Hugo Chavez”, said Brazilian foreign minister Ernesto Araújo.
A bishop had denied point-blank any involvement of Pope Francis in Argentine politics, following on August 11 presidential primaries, which have quashed President Mauricio Macri's reelection aspirations, increasing opposition candidate Alberto Fernandez chances of taking office next 10 December, while Latin America's third economy was driven into financial chaos as the word default creeps intensely as a possibility in the near future.
Argentina's peso slipped further against the dollar Tuesday while the stock market partially recovered as South America's third-largest economy continued to take a pummeling in the wake of pro-business President Mauricio Macri's crushing defeat in party primaries.
Presidential candidate Alberto Fernández pulled off a resounding victory in Argentina’s primary elections last Sunday when he received 47% of the vote. Argentine President Mauricio Macri, a conservative leader known for tough austerity measures, received just 33% of the vote.