Cristina Fernandez, President of South American nation Argentina looks poised to win her reelection bid in Argentina’s October 2011 election. With most of the votes counted and reported in the heated primary, President Cristina Fernandez is set to win the primary against her challengers by a large margin. Cristina Fernandez is set with over 50 percent of the reported ballots, with her nearest challengers over 30 percent behind. Challenging the leftist President is Ricardo Alfonsin and the nation’s former President Eduardo Duhalde.
Even though the Argentina political parties had essentially already chosen their candidates, the primary is still significant as a nationwide opinion poll. With these results being as they were, it looks as if Cristina Fernandez should easily walk back into the nation’s high office with little challenge by her opponents.
Cristina Fernandez, a leftist candidate has already turned Argentina into a market unfriendly nation in her first term as President. By placing price controls in effect and nationalizing private pension funds, she is supplying the nation with higher debts and taking away the efficiencies the free market would provide. Her regime also released inflation reports that were significantly lower than private estimates, suggesting manipulation in the data and the failure of her price controls.
Argentina is currently Latin America’s third largest economy. However with inflation rising and the nationalization of many entities, debt is rising as well. President Cristina Fernandez will have to control inflation in her second term while also limiting the increasing debt and finding a way to pay off the debtors without depleting Argentina’s central bank reserves.
When asked how she plans to cover the upcoming debt payments for next year, she simply side stepped the large economic issue and stated that it is a long time away and not worth worrying about right now, comparing it to something that is centuries away. Expanding upon these comments she stated that in her first term she used many unorthodox methods to overcome past obstacles, however an example was not given.
President Cristina Fernandez is a member of the Peronist party.