Investors hope that a victory for the opposition in 2023 could put an end to the current government’s flailing attempts to boost growth through regulation
The vote was technically a primary for congressional elections due in November, halfway through the president’s term, when a third of senators and half of the chamber of deputies will be chosen. In Argentina’s unusual electoral system, however, primaries function more like the first round of a two-round election. Voting is compulsory, and voters are presented with lists of candidates from all registered parties. They select one list for each office to go forward to the general election.
Other challengers could emerge. Within the opposition coalition another party, the Radical Civic Union, saw an uptick in votes for its candidates. And Javier Milei, a libertarian economist, took 14% of votes in the city of Buenos Aires. That could force the, including foreign-exchange controls, price freezes and export bans. It has also been printing money to spur the economy, but has succeeded only in spurring inflation, which is voters’ main concern .
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