Poverty in Argentina rose to 35.4% of the population in the first half of the year, the highest officially recorded level since 2001, the INDEC national statistics bureau reported today. This means that some 15.8 million Argentines are now considered poor, INDEC's data indicates. At the end of 2018, 32% of Argentines were said to be living in poverty.
Argentina’s embattled President Mauricio Macri took to the streets on Saturday with a defiant message: “Yes we can,” he told crowds of supporters in Buenos Aires as he looks to launch an unlikely comeback ahead of general elections next month.
Tens of thousands of Argentines jammed streets in the capital Buenos Aires and other cities on Saturday to show support for conservative President Mauricio Macri, who is facing a tough fight heading into general elections in October in a country beset with economic challenges.
Conservative president Jair Bolsonaro warned on Monday that Brazil could see a wave of migrants fleeing Argentina if a presidential election in that country returns leftist politicians to power, after their strong showing in a Sunday primary vote.
Argentina's currency collapsed 30.3% to a record 65 Pesos to the US dollar while government bonds sold off steeply on Monday after the country’s market-friendly, President Mauricio Macri, performed worse than expected in Sunday primary elections.
President Mauricio Macri suffered a crushing defeat as Argentines voted in party primaries on Sunday ahead of October's general election. Given that all of the recession-hit country's major parties have already chosen their presidential candidates, the primaries effectively served as a nationwide pre-election opinion poll.
Argentines are facing what is probably the tightest presidential race since the return of the country’s democracy in 1983 with conservative President Mauricio Macri facing an opposition ticket including ex-President Cristina Fernández, and the primary elections Sunday are expected to provide a hint of who might win October’s vote.
Ahead of Sunday's primaries' mandatory vote, The Economist published the following on Argentine president Macri's chances of reelection, in what seems a very tight competition with Kirchnerism.
Argentina’s election primary on Sunday will determine President Mauricio Macri’s chances of winning a second term in October, with the country’s embattled peso currency expected to take a fresh beating next week if the business-friendly does not accomplish as expected.
Argentina’s peso fell 1.8% on Monday to 45.49 per U.S. dollar due to uncertainty over the country’s presidential election and the fallout from U.S.-China trade tensions, traders said.