Argentina Moves Left: Fernández/Kirchner Slate Triumphs in Sunday’s First Round Vote

RIO DE JANEIRO, BRAZIL – Incomplete latest figures from the ballot boxes indicate that left-wing candidate Alberto Fernández will become the new president of Argentina, although the current government had hoped to reverse the trend, said Diario Uno in a report.

According to the earlier numbers, the Fernández-Kirchner ticket would get about 50 percent of the votes, while the incumbent slate, Mauricio Macri-Miguel Angel Pichetto, would have about 35 percent.

The almost-final results showed Fernández/Kirchner with 48 percent, and Macri/Pichetto with 40 percent, closer than polls had predicted.

To be elected president on the first round, the candidates need at least 45 percent of the votes, or 40 percent and 10 or more percentage points ahead of the second most voted candidate.

According to the numbers of the Electoral Justice, until 5 PM on Sunday, more than 70 percent of the national populace had already cast their votes. This means that the number of voters who voted in the election Primaries (PASO) of August 11th was surpassed.

What will happen to the dollar?

One of the biggest fears is what will happen to the dollar after the elections.

After the PASO, with the result indicating a first-round Fernández victory, the American currency rose 15 pesos, jumping from 45 pesos to 60 pesos.

Finance Minister Hernán Lacunza said the government is prepared for any result and denied new measures against the dollar.

However, on Sunday evening Argentina’s Central Bank imposed severe restrictions on the purchase of dollars by individuals, reducing the monthly limit from US$ 10,000 to US$ 200.

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