The two centre-left candidates sent shockwaves through the continent after picking up 47 percent of votes in Sunday’s primary election. President M
The two centre-left candidates sent shockwaves through the continent after picking up 47 percent of votes in Sunday’s primary election. President Mauricio Macri scrambled to announce a sweep of tax cuts and economic relief measures after the surprise result triggered a run on the Peso – leading an expert on the country to suggest that Argentina would face economic sabotage in order to scare voters into electing the pro-austerity incumbent.
Dr Daniel Ozarow claimed that, alongside the nation’s central bank, the Argentinian economy would be manipulated in order to fool voters.
He said voters will be made to feel that if the Fernandez ticket ends up winning the presidency, the economy would respond in the same volatile way it did to the primary result.
The Senior Lecturer at Middlesex University told Express.co.uk: “Macri blamed the voters for having wrongly selected their choice, which is an arrogant way of doing politics.
“He said that if they go ahead and elect this new government, the markets would lose value and the economy would be a disaster.
Macri will trigger economic sabotage, according to an expert
The Peso crashed hard on Monday
“Macri is attempting to scare the electorate into voting for him again.”
Macri was elected in 2015 after narrowly defeating the opposition Justicialist Party.
He has since overseen a volatile economic situation, including a mass devaluation of the Peso in 2018.
A neoliberal agenda led to deep spending cuts and a drop in living standards.
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Despite Macri’s patchy record in office, Dr Ozarow claims he could yet convince Argentinian voters that Fernandez and Ms De Kirchner would be worse.
He added: “Over the last four years, the Argentinians have suffered tremendously thanks to mass austerity and the fluctuating dollar.
“There’s been massive inflation, unemployment, increases in poverty and misery for the population.
“Macri will try to address this desperation by essentially blackmailing the population.
“It will be similar to the economic terrorism that has been used historically by politicians.”
Dr Ozarow claimed Macri’s tactic has already backfired on him, however, with many pro-government commentators rejecting the President’s response to the currency crisis.
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Macri was elected in 2015
The election is on October 27
Macri’s words will not just be rhetoric either, but may convert into actions that damage the economy in the long term.
He said: “There’s some evidence that he’s already taken steps towards doing that.
“For example, the central bank tried to stabilise the currency to keep the value of the Peso from tanking.
“They brought in a floating currency when Macri came in, which was more in line with neoliberal thinking.
“Because of high inflation, the Peso lost a lot of value and they changed that again to shore the currency up.
Fernandez could isolate the US further as well
“But after Monday’s result the central bank deliberately stopped buying up more Pesos – which made it crash.
“The central bank is not independent, so it’s used politically.”
Since Monday the US dollar has risen against the Peso from around 52 to over 60, leading to accusations that the government and central bank will work together to stop Fernandez from taking office.
Dr Ozarow added: “The suspicion is that they’re doing this to try and create an atmosphere of fear.
“They want people to think that if Fernandez comes in, there will be economic chaos, but you only have to look at the last four years to see how the current government has created this economic catastrophe.”
As well as the economy, Macri may invoke fears over Ms De Kirchner’s bullish stance on the Falkland Islands dispute.
Fernandez outperformed the polls
Earlier this year Ms De Kirchner released an emotional video reiterating her desire to take back the territory from the British.
However, the Argentinian constitution was amended in 1994 to ensure that the islands can never be reclaimed by force.
Argentinian voters will next head to the polls on October 27 with a choice of six main candidates, including Macri and Fernandez.
Sunday’s poll delivered a surprisingly large majority for Fernandez as he outperformed all previous polling.