Macro Analysis /

Argentina: Let’s Change routs ruling FPV in surprising midterm primaries

    13 September 2021
    • Opposition Let's Change wins at the national level with 41.5% to FPV's 31.8%
    • Margin of victory surprises, election was expected to be tight
    • FPV would lose Senate control and lower house first minority in Nov 14 main election
    • Markets will celebrate primaries that signal change of government is likely in 2023
    • But FPV loss could lead to dangerous radicalization of policy over next two years