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BUENOS AIRES, ARGENTINA - OCTOBER 28: A homeless sleeps next to posters advertising winning ticket of Frente de Todos represented by Alberto Fernandez and Cristina Fernandez on October 28, 2019, in Buenos Aires, Argentina. (Photo by Marcos Brindicci/Getty Images)
BUENOS AIRES, ARGENTINA - OCTOBER 28: A homeless sleeps next to posters advertising winning the ticket of Frente de Todos represented by Alberto Fernandez and Cristina Fernandez on October 28, 2019, in Buenos Aires, Argentina. (Photo by Marcos Brindicci…

Elections in Argentina, the return of Peronism

Peronist leader Alberto Fernández will be the new president of Argentina after defeating Mauricio Macri by eight points.

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Argentina expects a peaceful transition after the polls this Sunday gave the victory to politician Alberto Fernández, who took 48% of the votes versus 40.5% in favor of the current president Mauricio Macri.

In the midst of a deep economic crisis due to the freezing of tariffs, selective default and capital control, Mauricio Macri's government finally gave in to unpopularity and gives way to a new period of Peronism in power.

With inflation of more than 50%, Macri's failure to recover the country's economy after years of socialist government cost him popular support.

Shortly after his defeat was announced on Sunday, the central bank of Argentina announced new currency control measures, CNN reported.

Who is the new Argentine president?

Alberto Fernández joined the team of the late President Néstor Kirchner in 2003 as chief of staff and accompanied the transition of the presidency of Senator Cristina Fernández de Kirchner, who still faces allegations of corruption during her tenure.

This didn’t prevent her to join the campaign again as vice president of Fernandez.

The president-elect led a campaign based on the renegotiation of the International Monetary Fund agreement, the decriminalization of abortion and the creation of the Ministries of Housing and Women, as well as the de-dollarization of public service fees and an economic approach to Russia and China.

After the results on Sunday, both Fernández and Macri have announced a peaceful and collaborative transition.

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