With Victory in Sight, Fernandez Must Explain His Plan for Argentina
- Likely next president has yet to detail his economic policies
- Risk of bumpy transition highlighted by peso’s record collapse
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Thrust into pole position for Argentina’s presidential elections, Alberto Fernandez suddenly finds himself in the awkward situation of having to explain himself.
Stocks, bonds and the peso plunged on Monday after Fernandez, 60, trounced President Mauricio Macri in a primary that served as a gauge of public opinion for the upcoming presidential vote. The result all but ensures Fernandez’s victory on Oct. 27, but it also put the onus on him to clarify his scant economic program to halt the rout and ensure he doesn’t inherit a full-blown crisis.