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President Fernandez Will Not Seek Re-Election This Year

ARGENTINA
  • Argentina’s President Alberto Fernández announced Friday he won’t seek re-election for a second term this year, a decision that follows months of infighting among the ruling coalition as it grapples with a fragile economy and galloping inflation.
  • Fernández has suffered a significant deterioration in opinion polling as Argentina has been stuck economically with more than 50 percent of children living in poverty and rampant annual inflation, exceeding 100%.
  • Around seven-in-10 Argentines see Fernández in a negative light, according to a March poll by Giacobbe & Asociados, a local consultancy. Only 10% have a positive image of the president, according to the survey.
  • The president’s decision not to seek re-election came at the end of a week in which the local currency suffered a sharp depreciation and sovereign bond prices plunged as interest rates were increased once again by the BCRA to 81%.
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