The decision by populist and anti-IMF former president, Cristina Fernández de Kirchner, to run for vice president in October’s election (with a more moderate Peronist at the top of the ticket) has reduced the odds of a disorderly post-election default. But to the extent that the move helps to unite the Peronists, it reduces the more investor-friendly President Macri’s chances of re-election.
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