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Argentine Peronists face mid-year elections

The alliance on the left of President Alberto Fernández will struggle to control Congress as the Argentine people are outraged by rising prices and rising voting in poverty. mid-term elections on the Sabbath.

A recent survey shows that Peronists’ rulers are pursuing an alliance with the right hand and 8 percent worldwide. Such consequences, if repeated this weekend, could devastate many Fernández in the Senate and further undermine the government’s role in the lower court, where it relies on the support of independent states to legislate.

In another sign that the government could be defeated, protests this week took place in La Matanza, a working-class district of Buenos Aires for a long time for Peronists to seek a “better future” after the death of a 40-year-old shopkeeper. shot and killed at his door.

“They are worried that young people are leaving the country, but they are not doing anything to continue,” said Tomás Sabo, one of the hundreds of protesters. “I want to leave [ . . .] they will not give me anything here, ”he said.

La Matanza, home to about 1m, voted Peronist in every election since Argentina returned to democracy in 1983. In the primaries in September the ruling coalition won by a 19-point margin in the neighboring region. As prices rise and wages fail, government subsidies dwindle.

The bigger question when it comes to voting results, according to senior analyst Ignacio Labaqui at Medley Global Advisors, is that if it comes Monday the Fernández government will “discuss the serious inequalities facing the Argentine economy”, including government subsidies and economic cuts. by printing money, or volunteering, in the lyrics of the famous tango song “persevere and go”.

Voting is legal in Argentina, although non-compliance fines are low and voter turnout has been declining in recent years. Sunday’s election will give a strong signal to opposition parties as they prepare for the next two-year presidential election. Half of the lower house and one-third of the Senate are being renewed this weekend.

Horacio Rodríguez Larreta, the famous mayor of Buenos Aires, hopes that the clear victory of allies in the Buenos Aires capital and surrounding areas, home to about 40 percent of the electorate, will make him more inclined to lead the opposition in 2023. Competition comes around.

In an effort to allay the anger of the people before the vote, the government has increased their Covid-19 vaccine, increased spending and stopped prices of more than 1,400 household items.

However, inflation has failed to control inflation, which is moving at an annual rate of 52.1 percent, according to recent developments. Poverty has risen. About 40.6 percent of Argentine people were living in poverty in the first half of 2021, up from 35 percent when Fernández took office.

The price of the dollar in the same market has almost doubled in government terms in recent weeks as Argentines bet the government will be forced to lower the peso price, which Finance Minister Martín Guzmán insists is not happening.

Traders criticize the government for intimidating investors. Sustainable governance and economic reforms have undermined growth. Foreign exchange earnings are declining, and due to the inability to access global markets, the central bank’s currency has declined sharply this year.

There are growing fears that Buenos Aires will not be able to negotiate with a IMF in debt restructuring of $ 44bn, most of which comes as a result of payment next year by 2023. The government says it has no money to pay.

Argentine economist Eduardo Levy Yeyati noted the government’s lack of direction: “Magicians know the economic crisis is the end of the state,” the Financial Times reported.

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