MAY 11, 2015
What's Driving Argentina's Presidential Race?
Argentines will go to the polls in October to select a new president and members of Congress. In early April, a poll by consulting firm Poliarquía had Daniel Scioli of the ruling Front for Victory party leading the race with 33.4 percent of the vote, while Mauricio Macri of the Republican Proposal (PRO) party had 27.3 percent and Sergio Massa of the Renewal Front trailed with 20.1 percent. What issues are driving the race? What is at stake in the race in terms of foreign investment in Argentina and the government's battle with so-called "holdout" bondholders? What influence is outgoing President Cristina Fernández de Kirchner having on the election?
Eduardo Amadeo, former member of Argentina's Congress and former Argentine ambassador to the United States: "The race is about continuity versus change. The Kirchner family has been in power for more than 11 years, with a populist style of government that combines an increase in consumption and low investment; state intervention; as well as low respect for the Constitution and basic institutions of democracy. The commodities boom has helped them to sustain the economy, but that support is over and there is a clear fatigue for the violations of democratic institutions. The question is whether this fatigue will be enough to defeat the political base that the Kirchners have built over these years. Foreign investment in Argentina is at a historically low level, and this critically affects the..." MORE
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