Don’t cry for me
As Argentina prepares for its presidential elections on Sunday, investors are sighing with relief and commentators are craning their necks to see if there will be an economic change of course. After 12 years of being ruled by the Kirchners – first the now-deceased Néstor who came to power in 2003 and then his wife Cristina – the outcome is wide open. The oficialista candidate Daniel Scioli leads the polls with nearly 40 per cent of voting intentions but he probably won’t do enough to avoid a second-round run-off in November. Regardless, Cristina Fernández de Kirchner, defined by her contempt for hedge funds (which she refers to as “vultures”) and a love of long televised speeches, will leave a power vacuum.