Centre-Right President: Mauricio Macri and Fern Ndez

centre-right president: Fern ndez dominated the poll against the centre-right president, Mauricio Macri, who has struggled to revitalise the economy and curtail high inflation, according to The Guardian. The presidential election is due to take place next month. A stronger than expected victory for Alberto Fern ndez, whose running mate is the former populist leader, triggered a 30% fall in the value of the peso, which hit a fresh record low against the US dollar on the global money markets. Fern ndez secured 47.4% of the vote, against Macri's 32.3%. Financial analysts said the prospect of a populist left-leaning government taking over in Buenos Aires could raise the chances of the country defaulting on its debt, which caused markets to slump in response. Edward Glossop, a Latin America economist at the consultancy Capital Economics, said The comprehensive victory for Alberto Fern ndez in Argentina's primary election paves the way for the return to leftwing populism that many investors fear. Shares in Argentinian companies also fell sharply on Monday, with the country's Merval stock index tumbling by almost 30%. The cost of insuring government bonds from default spiked, and the price of a 10-year government bond denominated in US dollars fell by between 18 and 20 cents to trade around 60 cents on the dollar. (news.financializer.com). As reported in the news.