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The Political Comeback That Could Change Everything in Argentina

Former Argentinian President Cristina Fernandez de Kirchner speaks in Buenos Aires on June 20, 2017.

Former Argentinian President Cristina Fernandez de Kirchner speaks in Buenos Aires on June 20, 2017.

Photographer: EITAN ABRAMOVICH/AFP/Getty Images
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Since Argentine ex-President Cristina Fernandez de Kirchner announced June 24 that she would be attempting a political comeback by running for a senate seat in elections Oct. 22, the country’s currency has weakened more than any other in emerging markets and its borrowing costs have begun to rise again. That reflects the jitters investors have about a return to Fernandez’s protectionist policies, which President Mauricio Macri is slowly unwinding after scoring a surprise victory over her alliance’s candidate in 2015. So-far cautious investors have been looking to the mid-term elections to gauge public appetite for Macri’s center-right policies. Voters go the polls first on Aug. 13 in a widely anticipated primary election.