Argentina President Alberto Fernandez Declare Intention Of Not Running For Reelection
Alberto Fernandez, the president of Argentina, shocked the nation on Friday by declaring that he will not run for reelection in the election in October.
The revelation comes as the third-largest economy in Latin America has experienced inflation skyrocket to about 22% over the last three months and more than 100% over the past year.
In addition to having one of the highest rates of inflation in the world, Argentina also experiences ongoing depreciation of the peso in relation to the US dollar.
Although Alberto Fernandez stated in his Friday video presentation that his center-left Frente de Todos (Everyone’s Front) alliance has to produce a new cycle of leaders, it has yet to present a candidate for the August primary.
“We will commemorate 40 years of democracy on December 10, 2023, to the precise day. In the video, Fernandez, 64, is heard saying, “On this day, I will hand over the presidential sash to whoever has been duly chosen by the people at the polls.
Vice President Cristina Kirchner, who served as Argentina’s president from 2007 to 2015, declared at the end of last year that she will not run in the primary elections.
That declaration came soon after the 70-year-old was found guilty of fraud and wrongdoing while she was president, albeit her parliamentary immunity prevented her from going to jail.
Economy Minister Sergio Massa, 50, has been mentioned as a probable candidate in certain press sources.
In the roughly eight-minute footage that was uploaded to Twitter, Fernandez said, “I will work tirelessly so that someone like me represents our political space.”
In response to speculations that the economy minister was set to resign, the president tweeted pictures of a lighthearted encounter between Fernandez and Massa on Thursday.
Fernandez has led a coalition that is split into rival factions, not least of all between him and the powerful Kirchner.
Massa was the third economy minister to be nominated to the position in less than a month when he took office in July.
Martin Guzman, who was originally appointed to replace Fernandez, resigned under pressure from the Kirchner side because they disapproved of his participation in negotiating the restructuring of Argentina’s $44 billion debt with the IMF.
Expected close election
According to polls, there will likely be a close race between the government camp and its right-wing opposition, as well as a sizable proportion of people who are still undecided.
Former president Mauricio Macri (2015–19) has disqualified himself from consideration within the opposition.
Horacio Larreta, the mayor of Buenos Aires, and Patricia Bullrich, a former security minister under Macri, both announced their candidacy for the opposition alliance Juntos por el Cambio (Together for Change).
Also running is the liberal economist Javier Milei, 52, who supports Jair Bolsonaro and Donald Trump.
With double-digit inflation in each of the previous 12 years, Argentina has been struggling with its economic problems for years.
There are several variables that contribute to inflation, such as ongoing deficit spending, ongoing devaluation, and outside influences like the conflict in the Ukraine that affected the cost of grain and energy.
Last month, Fernandez vehemently defended his performance over the previous three years, citing obstacles he had to overcome as the Covid-19 pandemic, the effects of the Ukraine War, the enormous Public Debt, and escalating Inflation.
He also met with President Joe Biden in March at the White House. He emphasized Argentina’s commitment to work with the United States to combat climate change and mentioned that it was experiencing the worst drought in its history.
Election day in Argentina is October 22, with a possible second round runoff scheduled for November 19.
