Argentina opposition scores big primary win, hurting Macri’s re-election bid
BUENOS AIRES, (Reuters) - Argentine voters soundly rejected President
Mauricio Macri’s austere economic policies in primary elections yesterday, raising serious questions about his chances of re-election in
October, early official results showed.
A coalition backing opposition candidate Alberto
Fernandez - whose running mate is former president Cristina Fernandez - led by a wider-than-expected 14 percentage points with 47.1% of votes, with fourth-fifths of ballots counted.
On Sunday, Macri told supporters the primary vote was a “bad election” for his coalition ahead of the official results.
“Recognizing that we have had a bad election, that forces us, starting tomorrow, to redouble our efforts so that in October we will get the support that is needed to continue the change,” Macri said.
“This is something that nobody expected. Nobody had these numbers. All the pollsters have failed.”
Analysts predict a slide in Argentine stock and bond prices when financial markets open on Monday if Fernandez records a lead of more than five to six percentage points - slightly more than the level predicted in recent opinion polls.
There could be an even stronger degree of market volatility if final results show that Fernandez has enough support to clinch the presidency in October’s first round, analysts said.
In order to win the presidency outright, a candidate needs at least 45% of the vote or 40% and a difference of 10 percentage points over the second-place runner. If there is no clear winner, voters will return for a runoff on Nov. 24.