Economist Podcasts Poll reposition: Macri fights back
Aug 15, 2019
Join David Smith, an analyst of Argentina’s tumultuous political scene, and Katrine Bragg, a climate change expert, as they delve into the alarming effects of political shifts in Argentina after President Macri's recent primary loss. They discuss the lifting of austerity measures to win back voters amid economic turmoil. Meanwhile, Katrine shares insights on the catastrophic wildfires ravaging the Arctic, highlighting their devastating impact on global temperatures. The conversation also touches on the unique literary culture emerging in the Gulf states despite stringent censorship.
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Macri's Primary Loss
- Argentinian President Mauricio Macri suffered a significant loss in the primary presidential election against left-wing opponent Alberto Fernández.
- This surprising result led to a sharp decline in the Argentinian stock exchange and peso.
Market Reaction
- The market reacted dramatically to Macri's primary loss, with the stock exchange falling 37% and the peso plummeting 48% against the dollar.
- This reflects market fear of a return to interventionist policies under the potential Fernández government.
Market Concerns
- The markets view a potential Fernández win negatively due to concerns about a return to policies of the previous Kirchner government.
- These include increased welfare programs, high public deficits, and policies unfriendly to businesses.