Argentina's Peronists are celebrating their return to power after incumbent President Mauricio Macri conceded defeat in a dramatic election that likely swung the country back to the center-left and threatened to rattle financial markets.
Peronist presidential candidate Alberto Fernández waves to supporters in front of a large image of his running mate, former President Cristina Fernández, after incumbent President Mauricio Macri conceded defeat at the end of election day in Buenos Aires, Argentina, Sunday, Oct. 27, 2019.
Late Sunday night, authorities said Alberto Fernández had 48.1% of the votes compared to 40.4% for Macri, with almost 97% percent of the votes counted. He needed 45% support, or 40% support with a 10 percentage point lead, over the nearest rival to avoid a runoff vote on Nov. 24. No official winner has yet been declared.
“We need an orderly transition that will bring tranquility to all Argentines, because the most important thing is the well-being of all Argentines,” Macri said. Gedan said Fernández is “an untested leader,” whose proposed solutions to Argentina’s daunting challenges remain a mystery and who inherits a ruinous economy and unfavorable international conditions.
For many voters, the Fernández ticket was more palatable because the moderate Alberto Fernández was in the top spot, handpicked - in a shrewd move - by Cristina Fernández, who represents the more radical wing of the Peronist party and enjoys hard-core support of some 30% of Argentines, according to Michael Shifter, head of the Inter-American Dialogue, a Washington-based think tank.
The result would mark a shift leftward for South America, which has seen conservative governments elected in Brazil, Colombia and Chile in recent years. Cristina Fernández was considered part of the “pink tide” of leftist governments that arose in the region in the 1990s and 2000s. Macri retained wide support among the key farming sector in one of the world’s top suppliers of grains. But overall frustration over the economy eroded the popularity of the pro-business former mayor of Buenos Aires and ex-president of the popular Boca Juniors soccer club.
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