The left-populist Alberto Fernández will be the new president of Argentina. After counting 91 percent of the votes, he has an 8 percentage point lead over current President Mauricio Macri, who has already admitted his election defeat.
Fernández won 48 percent of the votes on Sunday, so there is no second round of voting. This is not necessary in the country if one of the candidates receives at least 45 percent of the votes.
The election victory also brings an old acquaintance back to the political top in the South American country. Cristina Fernández de Kirchner, Alberto Fernández’s right-hand man, becomes vice president. Between 2007 and 2015, she was at the helm of the country. She was succeeded by Macri.
In his election period, left-wing populist Fernández promised to raise wages. Partly because of that, he became the absolute favorite for the presidency, although critics were left with big question marks.
They wonder how the new president wants to implement his plans, since the country has been in recession since mid-2018.
The price of the Argentine Peso has fallen considerably in recent years. Macri promised when he was appointed in 2015 that he would pull the economy out, but did not succeed. The International Monetary Fund (IMF) even helped the country with a loan of 57 billion euros.