If Argentina’s President Mauricio Macri was under any illusions about the
size of the task he faces to secure re-election in October, events over the course
of this week will have disabused him of them. Firstly, former president
Cristina Fernández (2007-2015) was showered with popular acclaim while
presenting her memoirs at the Buenos Aires book fair, a testament to her
enduring popularity which will shake the markets. Secondly, the main opposition
Partido Justicialista (PJ, Peronists) broke post-dictatorship records with
the size of its victory in provincial elections in Córdoba. And thirdly,
Fernández made an unexpected effort to heal the internal divisions within the
PJ, albeit they remain sufficiently deep to provide Macri with a ray of hope,
which was brightened by the release of improved inflation figures.

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