Argentina's Federal Intelligence Agency (AFI) has called for an investigation into former President Mauricio Macri for allegedly spying on more than 400 journalists. Watch report.

Mauricio Macri accused of spying on 400 journalists | Ex-Argentine President

Alberto Fernandez was sworn in as president of Argentina, vowing to restore growth and redistribute wealth by reversing the austerity policies of his pro-business predecessor, Mauricio Macri.

Peronism returns to Argentina as Alberto Fernandez sworn in as President

In Argentina's sunny Mendoza province, officials had been preparing to break ground on the Vecaso solar park, a 115-megawatt project costing $90 million. The culmination of nearly four years of planning, Vecaso was one of several ambitious projects to take root under a renewable energy push by the government of President <a href="https://www.wionews.com/sports/argentina-president-mauricio-macri-requests-new-search-for-footballer-emiliano-sala-192898">Mauricio Macri</a>.

But that project is now in limbo, along with at least two other clean energy investments totalling half a billion dollars - victims of political and economic uncertainty that has crimped cash flow into Argentine industries from shale drilling to cars.

Latin America's no. 3 economy is facing default fears following a sharp market crash and has imposed stricter capital controls to protect the peso after an election last month that saw business-friendly Macri beaten by opposition candidate Alberto Fernandez.

Once a sector that represented more than $4.5 billion in investments and 9 per cent&nbsp;of the country's total generation, the clean energy projects have ground to a halt as companies and financial backers wait for signals from Fernandez on his approach to energy and economic policy.

"The idea was to start construction before the end of the year, but with the current uncertainty we have been forced to adjust," said Ramiro Marquesini of Verano Capital, the Latin American company responsible for building the Vecaso solar park.

Marquesini said he hopes the construction will not be delayed beyond June of next year if the situation has stabilized by then.

Fernandez' vice president will be firebrand former President <a href="https://www.wionews.com/world/argentina-inflation-expected-at-53-in-december-2019-treasury-officials-249184">Cristina Fernandez de Kirchner</a>, known for interventionist economic policies during her two terms between 2007 and 2015. The return of the Peronists to power from next month has prompted investor fears that Argentina could be headed again in a more protectionist direction.

A spokesman for Alberto Fernandez did not respond to request for comment for this story.

The political uncertainty - not to mention inflation running at nearly 51per cent - has put up a barrier to finishing renewable energy projects in development, like the Vecaso solar park, industry executives told Reuters.

Further complicating the landscape are capital controls imposed by Macri's government that require financing institutions to convert investment dollars into pesos upon entering Argentina.

"Development banks and export credit agencies all just stopped making disbursements," said Gustavo Castagnino, communications director for Genneia, an Argentine energy firm that suspended the development of four wind farms representing a total of 200 megawatts.

Marcelo Alvarez, president of the Argentine Chamber of Renewable Energies (CADER), told Reuters in an interview that the situation was affecting "one of the few sectors that had real investments in recent times," adding that projects requiring a large initial investment were particularly affected.

In northwestern Argentina, a planned solar park in Jujuy province - already home to South America's largest solar farm - stalled after the results of the August primary election indicated that Macri was on his way out, according to a source with direct knowledge of the project.

Those behind the project had been in talks with European development banks for $100 million in funding to build a 96-megawatt solar farm. The paperwork and due diligence was in advanced stages, according to the source, who declined to be named due to the political sensitivity of the issue.

Then, Fernandez trounced Macri by a wider-than-expected margin, sending the peso and markets tumbling.

"We had an informal 'ok,' but when they were presenting the project to their steering committees, after the results of the primary, they didn't say no - they told us they were going to wait until things were more stable," the source said.

The project leaders are now looking into alternative funding options, the source said.

In Argentina's sunny Mendoza province, officials had been preparing to break ground on the Vecaso solar park, a 115-megawatt project costing $90 million. The culmination of nearly four years of planning, Vecaso was one of several ambitious projects to take root under a renewable energy push by the government of President Mauricio Macri.

In Argentina's sunny Mendoza province, officials had been preparing to break ground on the Vecaso solar park, a 115-megawatt project costing $90 million. The culmination of nearly four years of planning, Vecaso was one of several ambitious projects to take root under a renewable energy push by the government of President Mauricio Macri. But that project is now in limbo, along with at least two other clean energy investments totalling half a billion dollars - victims of political and economic uncertainty that has crimped cash flow into Argentine industries from shale drilling to cars. Latin America's no. 3 economy is facing default fears following a sharp market crash and has imposed stricter capital controls to protect the peso after an election last month that saw business-friendly Macri beaten by opposition candidate Alberto Fernandez. Once a sector that represented more than $4.5 billion in investments and 9 per cent of the country's total generation, the clean energy projects have ground to a halt as companies and financial backers wait for signals from Fernandez on his approach to energy and economic policy. "The idea was to start construction before the end of the year, but with the current uncertainty we have been forced to adjust," said Ramiro Marquesini of Verano Capital, the Latin American company responsible for building the Vecaso solar park. Marquesini said he hopes the construction will not be delayed beyond June of next year if the situation has stabilized by then. Fernandez' vice president will be firebrand former President Cristina Fernandez de Kirchner, known for interventionist economic policies during her two terms between 2007 and 2015. The return of the Peronists to power from next month has prompted investor fears that Argentina could be headed again in a more protectionist direction. A spokesman for Alberto Fernandez did not respond to request for comment for this story. The political uncertainty - not to mention inflation running at nearly 51per cent - has put up a barrier to finishing renewable energy projects in development, like the Vecaso solar park, industry executives told Reuters. Further complicating the landscape are capital controls imposed by Macri's government that require financing institutions to convert investment dollars into pesos upon entering Argentina. "Development banks and export credit agencies all just stopped making disbursements," said Gustavo Castagnino, communications director for Genneia, an Argentine energy firm that suspended the development of four wind farms representing a total of 200 megawatts. Marcelo Alvarez, president of the Argentine Chamber of Renewable Energies (CADER), told Reuters in an interview that the situation was affecting "one of the few sectors that had real investments in recent times," adding that projects requiring a large initial investment were particularly affected. In northwestern Argentina, a planned solar park in Jujuy province - already home to South America's largest solar farm - stalled after the results of the August primary election indicated that Macri was on his way out, according to a source with direct knowledge of the project. Those behind the project had been in talks with European development banks for $100 million in funding to build a 96-megawatt solar farm. The paperwork and due diligence was in advanced stages, according to the source, who declined to be named due to the political sensitivity of the issue. Then, Fernandez trounced Macri by a wider-than-expected margin, sending the peso and markets tumbling. "We had an informal 'ok,' but when they were presenting the project to their steering committees, after the results of the primary, they didn't say no - they told us they were going to wait until things were more stable," the source said. The project leaders are now looking into alternative funding options, the source said.

Argentina's political uncertainty and debt crisis torpedo green energy push

Peronist candidate Alberto Fernandez won Argentina's presidential election in the first round on Sunday, official results showed, bringing to an end the crisis-plagued rule of market-friendly <a href="https://www.wionews.com/world/mauricio-macri-suffers-crushing-defeat-in-key-argentina-primaries-242365">incumbent Mauricio Macri</a>.&nbsp;

Fernandez, a 60-year-old law professor, had 47.36 per cent of the votes -- crossing the threshold for outright victory -- after 75 per cent of the votes had been counted, with center-right incumbent Mauricio Macri trailing at 41.22 per cent.&nbsp;

To win outright, Fernandez required 45 per cent, or 40 per cent with a 10 point margin over his nearest rival.

His win also caps a remarkable political comeback for his running mate, ex-president Cristina Kirchner, who will be his vice-president.

Thousands of ecstatic Fernandez supporters cheered and danced outside his Frente de Todos party headquarters in Buenos Aires.

"It's a great day for Argentina," a smiling Fernandez told reporters after exit polls and his own party's tallies, had given him victory.

Macri, 60, whose popularity has fallen sharply in the last year as Argentina battled recession and market turmoil, said after he voted that competing "visions of the future are at stake" in the vote.

The interior ministry said turnout in Sunday's general election was over 80 per cent after a campaign dominated by the crippling economic crisis affecting Latin America's second-biggest economy.

Macri had called for a massive turnout, which analysts saw as his main hope of closing a large opinion poll deficit on Fernandez and forcing a second round.

Fernandez vowed to end sharp divisions between his Peronist movement and supporters of the business-friendly incumbent.

"The days of 'Us' and 'Them' are over," the moustachioed leftist leader said after voting in the swanky Puerto Madero neighbourhood of Buenos Aires. "We are in an enormous crisis. Everyone has to take responsibility for what's ahead."

The election comes amid high tensions in the region, with massive protests in neighbouring Chile and Bolivia, as well as recent unrest over inequality in Ecuador.&nbsp;

Voter Maria Marta Rosauer, 54, said she would give Macri "another vote of confidence."

"I voted with the conviction and the certainty that he did things well and that he could have done better, but he needed time," she said.

"Nobody can put a country on its feet in four years, after how he found it. We opened our doors to the world after many years of being almost forgotten," she said, referring to the years when Argentina was a market pariah following a 2001 default.&nbsp;

There are "two models of government at stake here. Alberto and Cristina represent greater equity," said another voter, Liliana, a 64-year-old architect in the capital. "I'm excited to see the end of a country that only benefits a small group."

The populist Kirchner, 66, who is facing trial in one of several graft cases stemming from her time in office, voted in the southern city of Rio Gallegos before flying to Buenos Aires to join celebrations.

Kirchner has long been a polarizing figure who succeeded her husband Nestor Kirchner as president in 2007 and remained in power until 2015.

The return to power of protectionist Peronists comes amid a lengthy recession and a debt crunch, raising market fears of a possible default on a $57 billion IMF loan.

The peso fell 5.86 per cent in the week before the elections, and the week ended with the dollar at 65 pesos.

"The markets will be negative" in their reaction to a Fernandez triumph on Monday, said Nicolas Saldias, a senior researcher at the Wilson Center.

Peronist candidate Alberto Fernandez won Argentina's presidential election in the first round on Sunday, official results showed, bringing to an end the crisis-plagued rule of market-friendly incumbent Mauricio Macri.

Peronist candidate Alberto Fernandez won Argentina's presidential election in the first round on Sunday, official results showed, bringing to an end the crisis-plagued rule of market-friendly incumbent Mauricio Macri. Fernandez, a 60-year-old law professor, had 47.36 per cent of the votes -- crossing the threshold for outright victory -- after 75 per cent of the votes had been counted, with center-right incumbent Mauricio Macri trailing at 41.22 per cent. To win outright, Fernandez required 45 per cent, or 40 per cent with a 10 point margin over his nearest rival. His win also caps a remarkable political comeback for his running mate, ex-president Cristina Kirchner, who will be his vice-president. Thousands of ecstatic Fernandez supporters cheered and danced outside his Frente de Todos party headquarters in Buenos Aires. "It's a great day for Argentina," a smiling Fernandez told reporters after exit polls and his own party's tallies, had given him victory. Macri, 60, whose popularity has fallen sharply in the last year as Argentina battled recession and market turmoil, said after he voted that competing "visions of the future are at stake" in the vote. The interior ministry said turnout in Sunday's general election was over 80 per cent after a campaign dominated by the crippling economic crisis affecting Latin America's second-biggest economy. Macri had called for a massive turnout, which analysts saw as his main hope of closing a large opinion poll deficit on Fernandez and forcing a second round. Fernandez vowed to end sharp divisions between his Peronist movement and supporters of the business-friendly incumbent. "The days of 'Us' and 'Them' are over," the moustachioed leftist leader said after voting in the swanky Puerto Madero neighbourhood of Buenos Aires. "We are in an enormous crisis. Everyone has to take responsibility for what's ahead." The election comes amid high tensions in the region, with massive protests in neighbouring Chile and Bolivia, as well as recent unrest over inequality in Ecuador. Voter Maria Marta Rosauer, 54, said she would give Macri "another vote of confidence." "I voted with the conviction and the certainty that he did things well and that he could have done better, but he needed time," she said. "Nobody can put a country on its feet in four years, after how he found it. We opened our doors to the world after many years of being almost forgotten," she said, referring to the years when Argentina was a market pariah following a 2001 default. There are "two models of government at stake here. Alberto and Cristina represent greater equity," said another voter, Liliana, a 64-year-old architect in the capital. "I'm excited to see the end of a country that only benefits a small group." The populist Kirchner, 66, who is facing trial in one of several graft cases stemming from her time in office, voted in the southern city of Rio Gallegos before flying to Buenos Aires to join celebrations. Kirchner has long been a polarizing figure who succeeded her husband Nestor Kirchner as president in 2007 and remained in power until 2015. The return to power of protectionist Peronists comes amid a lengthy recession and a debt crunch, raising market fears of a possible default on a $57 billion IMF loan. The peso fell 5.86 per cent in the week before the elections, and the week ended with the dollar at 65 pesos. "The markets will be negative" in their reaction to a Fernandez triumph on Monday, said Nicolas Saldias, a senior researcher at the Wilson Center.

Alberto Fernandez wins Argentina presidential election

In South America, Argentina's Peronist Alberto Fernandez has swept back into the power on Sunday by defeating Mauricio Macri in the election results. Watch this video to know more.

South America: Argentina's Peronists swept back into the power

In the hard-up neighbourhood of Claypole on the outskirts of the Argentine capital Buenos Aires, Elena Escobar makes her way to the local Caritas Felices soup kitchen to serve food to street children who scrape by from meal to meal.

Escobar, 53, says the volunteer-run kitchen has seen a surge of kids and families seeking help over the last few months, amid a biting recession and fast-rising prices that have pushed millions of people into poverty.

"There are many children in need, many malnourished, with kids that get to dinner time and don't have any food," said Escobar. The kitchen receives over 100 children each week, up from around 20-30 when it opened its doors in April.

The rise in hunger and poverty creates a complex backdrop for the leaders of Latin America's number&nbsp;three&nbsp;economy, who are in knife-edge talks with creditors to avoid default on billions of dollars of debt amid economic and political upheaval.

Ahead of a presidential election on October&nbsp;27, officials will head to Washington this month to meet with the International Monetary Fund (IMF), a major backer that struck a $57 billion funding deal&nbsp;with the country last year.

Those talks are likely to weigh on the current administration of President Mauricio Macri and the next one, likely led by left-leaning Peronist Alberto Fernandez, the front-runner to win the vote.

The Claypole kitchen is far from alone in witnessing rising hardship, with government data showing poverty rates jumped to 35 per cent&nbsp;in the first half of 2019 amid recession and steep inflation, from 27.3 per cent&nbsp;a year earlier.

Around 13 per cent of children and adolescents went hungry in 2018, according to data from the Pontificia Universidad Católica Argentina, and rising food prices have become a regular target of popular anger in street protests around the country.

<a href="https://www.wionews.com/videos/argentina-recession-emergency-food-bill-approved-249399">Political leaders know something must be done</a>, but face a complex juggling act: bolstering growth and spending to ease issues such as hunger, while cutting debt and averting a damaging default that would shut off access to global markets.

"We can't live in peace with such a scourge," left-leaning Fernandez said in a speech on Monday in reference to hunger, which he described as Argentina's "greatest shame."

Fernandez, who has been buoyed by support for populist running mate Cristina Fernandez de Kirchner, blames Macri and austerity measures agreed with the International Monetary Fund for the rise in poverty and hunger.

Macri's running mate, Miguel Pichetto, meanwhile, said on Monday the way to eradicate hunger was to generate employment and attract "big global companies" to Argentina.

Both sides have said they would honour the country's debts with creditors, including the IMF, though neither has laid out a clear plan for how to do so while boosting spending at home.

Most investors expect some sort of loss.

Indeed, Moody's Investors Service anticipates holders of Argentina dollar bonds will need to write off 10 per cent&nbsp;to 20 per cent&nbsp;of their investments, while Fitch Ratings believes the government will write down local and dollar debt.

Hunger and poverty are not new in Argentina but have risen abruptly over the past two years amid a series of economic shocks that have rattled the grain-exporting nation, famed for its rich arable land and cattle.

The issues have become a lightning rod for anti-government protests and marches, with the hardships of the poor brought into sharp focus as the government has been locked in talks with creditors about repayments on around $100 billion in debts.

<a href="https://www.wionews.com/world/argentina-inflation-expected-at-53-in-december-2019-treasury-officials-249184">Driving the problem is stubborn inflation</a>, a tumbling peso and a slump in domestic production and consumption, which have hurt spending power, incomes, and jobs.

"There is just no work," said 46-year-old Isabel Britez, a volunteer at the Los Piletones dining room in Buenos Aires, who said that was the main message she heard from people eating at the kitchen, which serves around 2,000 meals a day.

Macri, looking to revive his election hopes, has rolled out plans to bolster jobs, including tax cuts for employers. He also announced a freeze on some food prices earlier this year.

Sergio Chouza, an economist at the University of Avellaneda in Buenos Aires, said food prices have rocketed nearly 60 per cent&nbsp;over the past year, with basics such as dairy up as much as 90 per cent.

"That results in a deterioration of diets and pushes many people below the poverty line," he said.

Poverty is a key reason for Macri's fall from grace. His economic austerity, part of the $57 billion funding deal agreed with the IMF last year, reined in deficits but hit growth and voters' wallets.

Macri was defeated heavily in a primary election in August. Since then, he has announced lower taxes for the middle class and higher subsidies for the poor along with food aid. The Senate approved an emergency food law last month.

"Perhaps we underestimated the impact of the economic situation on the elections. (The poverty issue) affected the vote for Mauricio," Eduardo Amadeo, a Macri ally and member of Argentina's house of deputies, told Reuters.

"The reforms we launched have stabilised the economy and we have tried to reduce the impact from the devaluation in August on people's wallets," Amadeo said.

A spokesman for the Ministry of Health and Social Development listed official measures to deal with the crisis but declined to comment further on poverty rates.

In the meantime, even as soup kitchens flourish, some volunteers say meals are getting more meagre amid tight funding conditions and as food donations dry up.

"Previously, people donated some meat and chicken; now we only get noodles and rice," said Lorena Nievas, who works at the Abrazando Hogares soup kitchen in the southern Patagonian city of Puerto Madryn.

For many residents, however, there is no choice.

"I have people from the street who come in for their lunch and snacks here. It's all the food they get," she said.

In the hard-up neighbourhood of Claypole on the outskirts of the Argentine capital Buenos Aires, Elena Escobar makes her way to the local Caritas Felices soup kitchen to serve food to street children who scrape by from meal to meal.

In the hard-up neighbourhood of Claypole on the outskirts of the Argentine capital Buenos Aires, Elena Escobar makes her way to the local Caritas Felices soup kitchen to serve food to street children who scrape by from meal to meal. Escobar, 53, says the volunteer-run kitchen has seen a surge of kids and families seeking help over the last few months, amid a biting recession and fast-rising prices that have pushed millions of people into poverty. "There are many children in need, many malnourished, with kids that get to dinner time and don't have any food," said Escobar. The kitchen receives over 100 children each week, up from around 20-30 when it opened its doors in April. The rise in hunger and poverty creates a complex backdrop for the leaders of Latin America's number three economy, who are in knife-edge talks with creditors to avoid default on billions of dollars of debt amid economic and political upheaval. Ahead of a presidential election on October 27, officials will head to Washington this month to meet with the International Monetary Fund (IMF), a major backer that struck a $57 billion funding deal with the country last year. Those talks are likely to weigh on the current administration of President Mauricio Macri and the next one, likely led by left-leaning Peronist Alberto Fernandez, the front-runner to win the vote. The Claypole kitchen is far from alone in witnessing rising hardship, with government data showing poverty rates jumped to 35 per cent in the first half of 2019 amid recession and steep inflation, from 27.3 per cent a year earlier. Around 13 per cent of children and adolescents went hungry in 2018, according to data from the Pontificia Universidad Católica Argentina, and rising food prices have become a regular target of popular anger in street protests around the country. Political leaders know something must be done, but face a complex juggling act: bolstering growth and spending to ease issues such as hunger, while cutting debt and averting a damaging default that would shut off access to global markets. "We can't live in peace with such a scourge," left-leaning Fernandez said in a speech on Monday in reference to hunger, which he described as Argentina's "greatest shame." Fernandez, who has been buoyed by support for populist running mate Cristina Fernandez de Kirchner, blames Macri and austerity measures agreed with the International Monetary Fund for the rise in poverty and hunger. Macri's running mate, Miguel Pichetto, meanwhile, said on Monday the way to eradicate hunger was to generate employment and attract "big global companies" to Argentina. Both sides have said they would honour the country's debts with creditors, including the IMF, though neither has laid out a clear plan for how to do so while boosting spending at home. Most investors expect some sort of loss. Indeed, Moody's Investors Service anticipates holders of Argentina dollar bonds will need to write off 10 per cent to 20 per cent of their investments, while Fitch Ratings believes the government will write down local and dollar debt. Hunger and poverty are not new in Argentina but have risen abruptly over the past two years amid a series of economic shocks that have rattled the grain-exporting nation, famed for its rich arable land and cattle. The issues have become a lightning rod for anti-government protests and marches, with the hardships of the poor brought into sharp focus as the government has been locked in talks with creditors about repayments on around $100 billion in debts. Driving the problem is stubborn inflation, a tumbling peso and a slump in domestic production and consumption, which have hurt spending power, incomes, and jobs. "There is just no work," said 46-year-old Isabel Britez, a volunteer at the Los Piletones dining room in Buenos Aires, who said that was the main message she heard from people eating at the kitchen, which serves around 2,000 meals a day. Macri, looking to revive his election hopes, has rolled out plans to bolster jobs, including tax cuts for employers. He also announced a freeze on some food prices earlier this year. Sergio Chouza, an economist at the University of Avellaneda in Buenos Aires, said food prices have rocketed nearly 60 per cent over the past year, with basics such as dairy up as much as 90 per cent. "That results in a deterioration of diets and pushes many people below the poverty line," he said. Poverty is a key reason for Macri's fall from grace. His economic austerity, part of the $57 billion funding deal agreed with the IMF last year, reined in deficits but hit growth and voters' wallets. Macri was defeated heavily in a primary election in August. Since then, he has announced lower taxes for the middle class and higher subsidies for the poor along with food aid. The Senate approved an emergency food law last month. "Perhaps we underestimated the impact of the economic situation on the elections. (The poverty issue) affected the vote for Mauricio," Eduardo Amadeo, a Macri ally and member of Argentina's house of deputies, told Reuters. "The reforms we launched have stabilised the economy and we have tried to reduce the impact from the devaluation in August on people's wallets," Amadeo said. A spokesman for the Ministry of Health and Social Development listed official measures to deal with the crisis but declined to comment further on poverty rates. In the meantime, even as soup kitchens flourish, some volunteers say meals are getting more meagre amid tight funding conditions and as food donations dry up. "Previously, people donated some meat and chicken; now we only get noodles and rice," said Lorena Nievas, who works at the Abrazando Hogares soup kitchen in the southern Patagonian city of Puerto Madryn. For many residents, however, there is no choice. "I have people from the street who come in for their lunch and snacks here. It's all the food they get," she said.

In farm-rich Argentina, hunger cries ring in leaders' ears amid crisis

Argentina's inflation rate is expected at 53 per cent in December 2019, but will fall back to 34 per cent the following year, according to projections in the forthcoming 2020 budget, treasury officials said on Wednesday.

The budget also predicts Argentina's economy, Latin America's third-largest, will contract by an average of 2.6 per cent in 2019 but will return to growth of 1 per cent in 2020.

The treasury officials, who shared the figures but asked not to be identified, said the budget would be sent to Congress on September 16.

The much anticipated fiscal plans will figure prominently into Argentina's efforts to stem an economic crisis that has plunged a third of its citizens into poverty and ratcheted up inflation.

Tight monetary policy had helped tame inflation in the months before the August 11 primary election. But the peso crashed along with the country's bonds after Peronist Alberto Fernandez trounced market-friendly president Mauricio Macri, sending consumer prices spiralling again.

The shock result spooked investors, who worry especially about Fernandez's running-mate, ex-President Cristina Fernandez de Kirchner, recalling the interventionist policies she imposed during her two terms between 2007 and 2015.

The peso lost a quarter of its value against the dollar in August and the central bank burned up reserves to stem the decline. Macri ultimately imposed currency controls, and the peso has steadied over the last week.

The 2020 budget predicts the average exchange rate will weaken to 67 pesos per dollar in 2020, from 48 pesos to the dollar in 2019, the treasury officials said.

The current account deficit is expected to hit 0.9 per cent of GDP in 2019, then revert to a surplus of 0.4 per cent of GDP in 2020.

The budget also forecasts a trade surplus of $16.1 bln in 2019, increasing slightly to $17.5 bln in 2020, the officials said.

Argentina's inflation rate is expected at 53 per cent in December 2019, but will fall back to 34 per cent the following year, according to projections in the forthcoming 2020 budget, treasury officials said on Wednesday.

Argentina's inflation rate is expected at 53 per cent in December 2019, but will fall back to 34 per cent the following year, according to projections in the forthcoming 2020 budget, treasury officials said on Wednesday. The budget also predicts Argentina's economy, Latin America's third-largest, will contract by an average of 2.6 per cent in 2019 but will return to growth of 1 per cent in 2020. The treasury officials, who shared the figures but asked not to be identified, said the budget would be sent to Congress on September 16. The much anticipated fiscal plans will figure prominently into Argentina's efforts to stem an economic crisis that has plunged a third of its citizens into poverty and ratcheted up inflation. Tight monetary policy had helped tame inflation in the months before the August 11 primary election. But the peso crashed along with the country's bonds after Peronist Alberto Fernandez trounced market-friendly president Mauricio Macri, sending consumer prices spiralling again. The shock result spooked investors, who worry especially about Fernandez's running-mate, ex-President Cristina Fernandez de Kirchner, recalling the interventionist policies she imposed during her two terms between 2007 and 2015. The peso lost a quarter of its value against the dollar in August and the central bank burned up reserves to stem the decline. Macri ultimately imposed currency controls, and the peso has steadied over the last week. The 2020 budget predicts the average exchange rate will weaken to 67 pesos per dollar in 2020, from 48 pesos to the dollar in 2019, the treasury officials said. The current account deficit is expected to hit 0.9 per cent of GDP in 2019, then revert to a surplus of 0.4 per cent of GDP in 2020. The budget also forecasts a trade surplus of $16.1 bln in 2019, increasing slightly to $17.5 bln in 2020, the officials said.

Argentina inflation expected at 53 per cent in December 2019: treasury officials

Argentina's Economy Minister Nicolas Dujovne resigned Saturday after a week of economic tumult caused by <a href="https://www.wionews.com/.../mauricio-macri-suffers-crushing-defeat-in-key- argentina-primaries-242365">President Mauricio Macri's defeat</a> in a primary poll ahead of a general election.

Dujovne will be replaced by Hernan Lacunza, economy minister for Buenos Aires province, Argentine media reported.&nbsp;

The country's peso ended the week having shed 20 per cent of its value against the US dollar as both Fitch and S&amp;P cut the South American country's long-term credit rating, citing increased uncertainty and a rising risk of default.

Dujovne said, in a letter posted on the website of La Nacion newspaper, he was "convinced that, under the circumstances, the (government's) management needs significant renewal in the economic arena."&nbsp;

He leaves in the middle of a <a href="https://www.wionews.com/.../argentinas-stock-exchange-crashes-after- president-macris-party-loses-in-primary-election-242522">deepening economic crisis</a> following last Sunday's primary elections in which market-friendly Macri was dealt a huge blow in his bid for re-election when he polled 15 points less than centre-left Peronist candidate Alberto Fernandez.

The primaries serve as a bellwether for general elections in October. Dujovne's announcement marks the first change in Macri's cabinet since voters went to the polls.

Fitch, which downgraded Argentina's credit rating two notches to "CCC," said the centre-right's defeat "increases risks of a break from the policy strategy of the current administration of Mauricio Macri guided by a program with the IMF."

Fernandez, now the clear favourite to unseat Macri, has questioned the reform program backed by a $56 billion rescue package from the International Monetary Fund.

Standard &amp; Poor's dropped Argentina's rating a single grade from "B" to "B-."

"My resignation is consistent with a government and political space that listens to the people and that acts accordingly," Dujovne said, in a clear message to the Argentine electorate, which still has two months left until voting in the presidential elections.

The country is currently in a recession and posted 22 per cent inflation for the first half of the year -- one of the highest rates in the world -- but the IMF said Macri's reform program was beginning to yield results.

The new economy minister will have the difficult task of trying to instil peace of mind in the markets while simultaneously dealing with the country's recession in the midst of Macri's uphill election battle.

In Argentina, 32 per cent of the population lives below the poverty line.

The country has annual inflation of more than 50 per cent.&nbsp;

Argentina's Economy Minister Nicolas Dujovne resigned Saturday after a week of economic tumult caused by President Mauricio Macri's defeat in a primary poll ahead of a general election.

Argentina's Economy Minister Nicolas Dujovne resigned Saturday after a week of economic tumult caused by President Mauricio Macri's defeat in a primary poll ahead of a general election. Dujovne will be replaced by Hernan Lacunza, economy minister for Buenos Aires province, Argentine media reported. The country's peso ended the week having shed 20 per cent of its value against the US dollar as both Fitch and S&P cut the South American country's long-term credit rating, citing increased uncertainty and a rising risk of default. Dujovne said, in a letter posted on the website of La Nacion newspaper, he was "convinced that, under the circumstances, the (government's) management needs significant renewal in the economic arena." He leaves in the middle of a deepening economic crisis following last Sunday's primary elections in which market-friendly Macri was dealt a huge blow in his bid for re-election when he polled 15 points less than centre-left Peronist candidate Alberto Fernandez. The primaries serve as a bellwether for general elections in October. Dujovne's announcement marks the first change in Macri's cabinet since voters went to the polls. Fitch, which downgraded Argentina's credit rating two notches to "CCC," said the centre-right's defeat "increases risks of a break from the policy strategy of the current administration of Mauricio Macri guided by a program with the IMF." Fernandez, now the clear favourite to unseat Macri, has questioned the reform program backed by a $56 billion rescue package from the International Monetary Fund. Standard & Poor's dropped Argentina's rating a single grade from "B" to "B-." "My resignation is consistent with a government and political space that listens to the people and that acts accordingly," Dujovne said, in a clear message to the Argentine electorate, which still has two months left until voting in the presidential elections. The country is currently in a recession and posted 22 per cent inflation for the first half of the year -- one of the highest rates in the world -- but the IMF said Macri's reform program was beginning to yield results. The new economy minister will have the difficult task of trying to instil peace of mind in the markets while simultaneously dealing with the country's recession in the midst of Macri's uphill election battle. In Argentina, 32 per cent of the population lives below the poverty line. The country has annual inflation of more than 50 per cent.

Argentina's economy minister Nicolas Dujovne resigns amid deepening crisis

Argentine President Mauricio Macri vowed to win a second term despite a surprisingly strong performance by the opposition in the primary election that set off a shockwave through markets, crashing the peso currency and sending stocks and bonds tumbling.

Argentina: Economic crisis follows poll results

Gold&nbsp;prices scaled their highest in more than&nbsp;six&nbsp;years on Tuesday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from&nbsp;riskier assets.

Spot&nbsp;gold&nbsp;rose 0.7 per cent to $1,521.98 per ounce as of 0715 GMT, its highest since April 2013.

US&nbsp;gold&nbsp;futures rose 1 per cent to $1,533 an ounce.

"It is a pretty straight forward case of&nbsp;risk&nbsp;aversion. Crisis in Argentina and <a href="https://www.wionews.com/opinions/hong-kong-protestors-have-made-their-point-to-china-241289">political deterioration in Hong Kong</a>; underlying all of this, global growth is slowing," said Ilya Spivak, senior currency strategist with DailyFx.

"Central banks can only do so much because a lot of them are at near record-low interest rates. There is not a lot of ammunition to deploy as countermeasures to the slowdown in global growth."

Protesters managed to shut down Hong Kong's airport, the world's busiest cargo airport, on Monday.&nbsp;

The protests, which started as an opposition to an extradition bill to mainland China, have expanded into wider calls for democracy.

On the other side of the globe, fears of a possible return to interventionist policies gripped the Argentine market after market-friendly President Mauricio Macri lost by a much bigger-than-expected margin in presidential primaries.

These uncertainties alongside fears of a drawn-out Sino-US trade war rattled financial markets, spurring investors to safe-haven assets.

Bullion, along with the Japanese yen and US Treasuries, is seen as a relatively safe investment in times of political and financial uncertainty.&nbsp;

The yen stood near a seven-month high against the dollar.

Investors are focused on the Federal Reserve's annual symposium next week.&nbsp;

Traders see a 74 per cent chance of a 25 basis-point rate cut by the Fed this September.

Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making&nbsp;gold&nbsp;cheaper for investors holding other currencies.

"Heightened geopolitical&nbsp;risks from Hong Kong protests along with global growth concerns remain largely supportive towards safe-haven flows," brokerage Phillip Futures said in a note.

"Gold&nbsp;prices must hold above $1,500 for an extension of the bullish wave in the current term."

Reflecting increased investor interest in&nbsp;gold, holdings of SPDR&nbsp;Gold&nbsp;Trust, the world's largest&nbsp;gold-backed exchange-traded fund, jumped 0.9 per cent to 847.77 tonnes on Monday from Friday.

Spot&nbsp;gold&nbsp;may test a resistance at $1,524 per ounce, a break above which could lead to a gain to $1,546, said Reuters technical analyst Wang Tao.

Among other precious metals, silver climbed 1.8 per cent to $17.36 per ounce. During the session, it hit its highest since January 2018 at $17.42. Platinum rose 1.3 per cent to $863.83 and palladium gained 0.7 per cent to $1,437.98 an ounce.

Gold prices scaled their highest in more than six years on Tuesday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from riskier assets.

Gold prices scaled their highest in more than six years on Tuesday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from riskier assets. Spot gold rose 0.7 per cent to $1,521.98 per ounce as of 0715 GMT, its highest since April 2013. US gold futures rose 1 per cent to $1,533 an ounce. "It is a pretty straight forward case of risk aversion. Crisis in Argentina and political deterioration in Hong Kong; underlying all of this, global growth is slowing," said Ilya Spivak, senior currency strategist with DailyFx. "Central banks can only do so much because a lot of them are at near record-low interest rates. There is not a lot of ammunition to deploy as countermeasures to the slowdown in global growth." Protesters managed to shut down Hong Kong's airport, the world's busiest cargo airport, on Monday. The protests, which started as an opposition to an extradition bill to mainland China, have expanded into wider calls for democracy. On the other side of the globe, fears of a possible return to interventionist policies gripped the Argentine market after market-friendly President Mauricio Macri lost by a much bigger-than-expected margin in presidential primaries. These uncertainties alongside fears of a drawn-out Sino-US trade war rattled financial markets, spurring investors to safe-haven assets. Bullion, along with the Japanese yen and US Treasuries, is seen as a relatively safe investment in times of political and financial uncertainty. The yen stood near a seven-month high against the dollar. Investors are focused on the Federal Reserve's annual symposium next week. Traders see a 74 per cent chance of a 25 basis-point rate cut by the Fed this September. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies. "Heightened geopolitical risks from Hong Kong protests along with global growth concerns remain largely supportive towards safe-haven flows," brokerage Phillip Futures said in a note. "Gold prices must hold above $1,500 for an extension of the bullish wave in the current term." Reflecting increased investor interest in gold, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, jumped 0.9 per cent to 847.77 tonnes on Monday from Friday. Spot gold may test a resistance at $1,524 per ounce, a break above which could lead to a gain to $1,546, said Reuters technical analyst Wang Tao. Among other precious metals, silver climbed 1.8 per cent to $17.36 per ounce. During the session, it hit its highest since January 2018 at $17.42. Platinum rose 1.3 per cent to $863.83 and palladium gained 0.7 per cent to $1,437.98 an ounce.

Gold hits over the six-year peak on risk-off sentiment

President Mauricio Macri suffered a crushing defeat as Argentines voted in party primaries on Sunday ahead of October's general election.

Given that all of the recession-hit South American country's major parties have already chosen their presidential candidates, the primaries effectively served as a nationwide pre-election opinion poll.

Centre-left nominee Alberto Fernandez led by around 15 points after partial results were revealed as centre-right, pro-business Macri admitted it had been "a bad election."

The first round of the presidential election will be held on October 27, with a run-off -- if needed -- set for November 24.

With 87 per cent of polling station results counted, Fernandez had polled 47.5 per cent with Macri on a little more than 32 per cent and centrist former finance minister Roberto Lavagna a distant third on just 8.3 per cent.

"For those who didn't vote for me, I promise to work hard so they understand me," said Fernandez to thousands of cheering supporters in Buenos Aires.

"We're going to begin a new stage. We always fix the problems that others create."

Macri had been hoping to earn a second mandate, but his chances appear all but over.

If Fernandez was to register the same result in October, he would be president as Argentina's electoral law requires a candidate to gain 45 per cent for outright victory, or 40 per cent and a lead of at least 10 points over the nearest challenger.

Political analyst Raul Aragon had said before the vote that "it would be very difficult to claw back a difference of five points due to polarization: there's no scope to claim votes."

Macri faces the unenviable prospect of having to somehow find three times as man

'It hurts'

"We've had a bad election and that forces us to redouble our efforts from tomorrow," said Macri, whose popularity has plunged since last year's currency crisis and the much-criticized $56 billion bail-out loan he secured from the International Monetary Fund.

"It hurts that we haven't had the support we'd hoped for," he added.

Fernandez had topped the most recent polls, boosted by his choice of running mate -- the corruption-tainted but still-popular former president Cristina Kirchner.

Around three-quarters of Argentina's 34 million eligible voters turned out for what was an obligatory vote, Interior Minister Rogelio Frigerio said.

Fernandez was a surprise nominee for the Peronist movement as Kirchner -- already president from 2007-15 -- was expected to run again.

However, she is embroiled in a dozen corruption investigations, the first of which has already gone to trial and is a controversial figure.

Adriana Lucheti, 60, who works in sanitation, said she had voted for Macri "so we can keep changing the 12 years of destruction from the previous governments that stole everything."

Kirchner's eight-year reign followed her late husband Nestor's single term as president.&nbsp;

Inflation and poverty

Argentina is currently in a recession and posted 22 per cent inflation for the first half of the year -- one of the highest rates in the world.

Poverty now affects 32 per cent of the population.

Backed by the IMF, Macri has initiated an austerity plan that is deeply unpopular among ordinary Argentines, who have seen their spending power plummet.

The peso lost half of its value against the dollar last year.

The Buenos Aires stock exchange actually shot up eight per cent on Friday amid expectation that Macri would do well in Sunday's vote.

The markets have little faith in Fernandez, who is widely seen as dependent on Kirchner, but that made a scant difference to voters.

"I'm going to vote for Fernandez and Kirchner because they're going to create jobs and secure public education. Macri represents unemployment and ignorance," said Josefina Sanchez, a 26-year-old who works for a metallurgy company.

President Mauricio Macri suffered a crushing defeat as Argentines voted in party primaries on Sunday ahead of October's general election. Given that all of the recession-hit South American country's major parties have already chosen their presidential candidates, the primaries effectively served as a nationwide pre-election opinion poll.

President Mauricio Macri suffered a crushing defeat as Argentines voted in party primaries on Sunday ahead of October's general election. Given that all of the recession-hit South American country's major parties have already chosen their presidential candidates, the primaries effectively served as a nationwide pre-election opinion poll. Centre-left nominee Alberto Fernandez led by around 15 points after partial results were revealed as centre-right, pro-business Macri admitted it had been "a bad election." The first round of the presidential election will be held on October 27, with a run-off -- if needed -- set for November 24. With 87 per cent of polling station results counted, Fernandez had polled 47.5 per cent with Macri on a little more than 32 per cent and centrist former finance minister Roberto Lavagna a distant third on just 8.3 per cent. "For those who didn't vote for me, I promise to work hard so they understand me," said Fernandez to thousands of cheering supporters in Buenos Aires. "We're going to begin a new stage. We always fix the problems that others create." Macri had been hoping to earn a second mandate, but his chances appear all but over. If Fernandez was to register the same result in October, he would be president as Argentina's electoral law requires a candidate to gain 45 per cent for outright victory, or 40 per cent and a lead of at least 10 points over the nearest challenger. Political analyst Raul Aragon had said before the vote that "it would be very difficult to claw back a difference of five points due to polarization: there's no scope to claim votes." Macri faces the unenviable prospect of having to somehow find three times as man 'It hurts' "We've had a bad election and that forces us to redouble our efforts from tomorrow," said Macri, whose popularity has plunged since last year's currency crisis and the much-criticized $56 billion bail-out loan he secured from the International Monetary Fund. "It hurts that we haven't had the support we'd hoped for," he added. Fernandez had topped the most recent polls, boosted by his choice of running mate -- the corruption-tainted but still-popular former president Cristina Kirchner. Around three-quarters of Argentina's 34 million eligible voters turned out for what was an obligatory vote, Interior Minister Rogelio Frigerio said. Fernandez was a surprise nominee for the Peronist movement as Kirchner -- already president from 2007-15 -- was expected to run again. However, she is embroiled in a dozen corruption investigations, the first of which has already gone to trial and is a controversial figure. Adriana Lucheti, 60, who works in sanitation, said she had voted for Macri "so we can keep changing the 12 years of destruction from the previous governments that stole everything." Kirchner's eight-year reign followed her late husband Nestor's single term as president. Inflation and poverty Argentina is currently in a recession and posted 22 per cent inflation for the first half of the year -- one of the highest rates in the world. Poverty now affects 32 per cent of the population. Backed by the IMF, Macri has initiated an austerity plan that is deeply unpopular among ordinary Argentines, who have seen their spending power plummet. The peso lost half of its value against the dollar last year. The Buenos Aires stock exchange actually shot up eight per cent on Friday amid expectation that Macri would do well in Sunday's vote. The markets have little faith in Fernandez, who is widely seen as dependent on Kirchner, but that made a scant difference to voters. "I'm going to vote for Fernandez and Kirchner because they're going to create jobs and secure public education. Macri represents unemployment and ignorance," said Josefina Sanchez, a 26-year-old who works for a metallurgy company.

Mauricio Macri suffers crushing defeat in key Argentina primaries

Argentines have their first chance on Sunday to head to the ballot boxes in a high-stakes presidential race in which they must choose between staying the course of painful austerity measures or a return to interventionist economics.

The country's main political parties have already chosen their nominees, so the primary election, known locally as the PASO, serves as the first concrete measure of voter sentiment after a slew of opinion polls showed a narrow margin between<a href="https://www.wionews.com/world/argentine-president-macri-has-slim-lead-for-re-election-in-early-poll-235126"> President Mauricio Macri</a> and main challenger Alberto Fernandez.

Business-friendly Macri is hoping some recent glimmers of economic revival are enough to encourage voters to stick with him despite the current recession and biting inflation. Argentina's country risk fell 20 basis points on Friday and the local Merval index rose 7 per cent.

For voters, sticking with him would mean seeing through painful cuts in public spending as part of the $57 billion standby agreement he negotiated with the International Monetary Fund last year.

Peronist candidate Fernandez, who has firebrand former President Cristina Fernandez de Kirchner as his running mate, has promised access to free medicines for retirees and better wages for workers while hammering Macri for the uptick in poverty and unemployment as the country grapples with the recession and 55 per cent inflation.

"I don't think that in the face of another Macri triumph, things will improve. On the contrary, they will get worse," said Pablo Vazquez, 48, adding that he is worried about losing his job and has noticed more homeless people on the streets.

Investors, though, see Fernandez and Kirchner as a riskier prospect than sticking with free-markets advocate Macri.

As recent polls show the pair with a narrow lead, markets are bracing for the Fernandez ticket to come out ahead of Macri in Sunday's primary, said Credit Suisse analyst Casey Reckman.

The severity of market reaction could depend on the margin of victory between Fernandez and Macri, and whether or not the winner netted enough votes to indicate a potential win in the first round of the presidential election in October, Reckman said.

To win the presidency outright in October, a candidate needs at least 45 per cent of the vote or 40 per cent and a difference of 10 percentage points over the second-place runner. If there's no clear winner, voters will return for a run-off on Nov. 24.

A widened gap between Fernandez and Macri on Sunday could spook markets, prompting a new wave of volatility that sends the peso spiralling, further dimming Macri's chances of re-election.

"It's a question of whether Macri can continue to build support. The backdrop for his momentum has been the absence of financial volatility, the decline in inflation, improving confidence and some signs of economic recovery. This event could influence sentiment around that question," Reckman said.

Argentines have their first chance on Sunday to head to the ballot boxes in a high-stakes presidential race in which they must choose between staying the course of painful austerity measures or a return to interventionist economics.

Argentines have their first chance on Sunday to head to the ballot boxes in a high-stakes presidential race in which they must choose between staying the course of painful austerity measures or a return to interventionist economics. The country's main political parties have already chosen their nominees, so the primary election, known locally as the PASO, serves as the first concrete measure of voter sentiment after a slew of opinion polls showed a narrow margin between President Mauricio Macri and main challenger Alberto Fernandez. Business-friendly Macri is hoping some recent glimmers of economic revival are enough to encourage voters to stick with him despite the current recession and biting inflation. Argentina's country risk fell 20 basis points on Friday and the local Merval index rose 7 per cent. For voters, sticking with him would mean seeing through painful cuts in public spending as part of the $57 billion standby agreement he negotiated with the International Monetary Fund last year. Peronist candidate Fernandez, who has firebrand former President Cristina Fernandez de Kirchner as his running mate, has promised access to free medicines for retirees and better wages for workers while hammering Macri for the uptick in poverty and unemployment as the country grapples with the recession and 55 per cent inflation. "I don't think that in the face of another Macri triumph, things will improve. On the contrary, they will get worse," said Pablo Vazquez, 48, adding that he is worried about losing his job and has noticed more homeless people on the streets. Investors, though, see Fernandez and Kirchner as a riskier prospect than sticking with free-markets advocate Macri. As recent polls show the pair with a narrow lead, markets are bracing for the Fernandez ticket to come out ahead of Macri in Sunday's primary, said Credit Suisse analyst Casey Reckman. The severity of market reaction could depend on the margin of victory between Fernandez and Macri, and whether or not the winner netted enough votes to indicate a potential win in the first round of the presidential election in October, Reckman said. To win the presidency outright in October, a candidate needs at least 45 per cent of the vote or 40 per cent and a difference of 10 percentage points over the second-place runner. If there's no clear winner, voters will return for a run-off on Nov. 24. A widened gap between Fernandez and Macri on Sunday could spook markets, prompting a new wave of volatility that sends the peso spiralling, further dimming Macri's chances of re-election. "It's a question of whether Macri can continue to build support. The backdrop for his momentum has been the absence of financial volatility, the decline in inflation, improving confidence and some signs of economic recovery. This event could influence sentiment around that question," Reckman said.

Argentines head to polls for primary in first Macri, Fernandez showdown

Argentine President Mauricio Macri has a narrow lead against his main challenger, candidate Alberto Fernandez, according to a poll published on Thursday, one of the first since candidates have officially announced their intention to run.

Macri was 2 percentage points ahead in the race to defeat Peronist candidate Fernandez, whose running mate is populist former President Cristina Fernandez, according to the 2,000 voters polled online, by telephone and in person by local firm Management &amp; Fit. That slight lead is less than the poll's margin of error of 2.2%.

According to the poll, Macri and his running mate, moderate Peronist Miguel Angel Pichetto, would win 45% of the votes in an election run-off scenario in November, with the Fernandez ticket at 42.9%.

But in an open field, which mirrors how the first round of voting would take place in October, the Fernandez ticket would have a slim lead of less than 2% over Macri, which would lead to a second-round head-to-head.

Alberto Fernandez and Cristina Fernandez are not related.

To avoid a run-off vote in Argentina, a candidate must take at least 45 percent of the first round vote in October, or a minimum of 40 percent of the vote but win by at least a 10 percentage point margin.

Macri's 2015 campaign promises to kick-start Latin America's third-largest economy have been slow to materialize, with the economy shrinking 2.5 percent in 2018. However, the economy has shown some recent signs of improvement. The government predicts the economy will shrink a more modest 0.8% and inflation will be under 40.3% for the year, down from 47.6% in 2018, according to the upcoming budget proposal. The local peso currency, which lost half its value in 2018, has strengthened 7.5% in five weeks to 41.80 per U.S. dollar.

Alberto Fernandez has criticized Macri's policies and vowed to "rework" Argentina's huge financing deal with the International Monetary Fund for $56.3 billion. Though the Fernandez ticket has yet to announce a specific economic plan, they said they would tackle unemployment and the slump in industrial production.

Investors are wary of former President Cristina Fernandez due to her past economic policies.

Argentine President Mauricio Macri has a narrow lead against his main challenger, candidate Alberto Fernandez, according to a poll published on Thursday, one of the first since candidates have officially announced their intention to run.

Argentine President Mauricio Macri has a narrow lead against his main challenger, candidate Alberto Fernandez, according to a poll published on Thursday, one of the first since candidates have officially announced their intention to run. Macri was 2 percentage points ahead in the race to defeat Peronist candidate Fernandez, whose running mate is populist former President Cristina Fernandez, according to the 2,000 voters polled online, by telephone and in person by local firm Management & Fit. That slight lead is less than the poll's margin of error of 2.2%. According to the poll, Macri and his running mate, moderate Peronist Miguel Angel Pichetto, would win 45% of the votes in an election run-off scenario in November, with the Fernandez ticket at 42.9%. But in an open field, which mirrors how the first round of voting would take place in October, the Fernandez ticket would have a slim lead of less than 2% over Macri, which would lead to a second-round head-to-head. Alberto Fernandez and Cristina Fernandez are not related. To avoid a run-off vote in Argentina, a candidate must take at least 45 percent of the first round vote in October, or a minimum of 40 percent of the vote but win by at least a 10 percentage point margin. Macri's 2015 campaign promises to kick-start Latin America's third-largest economy have been slow to materialize, with the economy shrinking 2.5 percent in 2018. However, the economy has shown some recent signs of improvement. The government predicts the economy will shrink a more modest 0.8% and inflation will be under 40.3% for the year, down from 47.6% in 2018, according to the upcoming budget proposal. The local peso currency, which lost half its value in 2018, has strengthened 7.5% in five weeks to 41.80 per U.S. dollar. Alberto Fernandez has criticized Macri's policies and vowed to "rework" Argentina's huge financing deal with the International Monetary Fund for $56.3 billion. Though the Fernandez ticket has yet to announce a specific economic plan, they said they would tackle unemployment and the slump in industrial production. Investors are wary of former President Cristina Fernandez due to her past economic policies.

Argentine President Macri has slim lead for re-election in early poll

Power returned to much of Argentina and two neighboring countries following a massive blackout that left tens of millions in the dark on Sunday, but Argentine President Mauricio Macri said the cause of the "unprecedented" outage was still unclear.

Power mostly restored after massive blackout in Argentina & Uruguay, but questions remain

Argentine labour unions staged a 24-hour nationwide strike on Tuesday (April 30) against President Mauricio Macri's fiscal austerity program, blocking streets in the capital Buenos Aires and shutting down traffic in the city centre.

WION Wallet: Argentine labour unions stage strike, slam Macri for subsidy cuts

Argentina President Mauricio Macri who is on a three-day visit to India met Prime Minister Narendra Modi at Hyderabad House today.&nbsp;

Macri landed in India on Sunday and visited Agra on the first day of his stay in the country.

The Argentina President was accorded a ceremonial reception at Rashtrapati Bhawan today morning.

Speaking to media after the reception, standing alongside President Kovind and PM Modi, he said, "Very Gald to be in India, such a wonderful country. We have great expectations about the future of the relations between both countries. We have many things to develop together in favour of the future of our people".

The visit comes at a time when both the countries are celebrating the 70th year of the establishment of diplomatic ties between India and Argentina.

PM Modi met with President Macri last year in Buenos Aires on the sidelines of G20 summit from November 30 to December 1.&nbsp;

Argentina which became the first Latin American country to host G20 last year assured full support to New Delhi which will host the G20 summit in 2022.

"We are at the disposal of India to share any kind of and all the experience we have. It's the job you do in the whole year, the summit is just last expression. India will do it pretty well, you have a lot of experience. There will be no problem", Ambassador of Argentina, Daniel Chuburu said.

The visit comes even as Venezuela has been the focus in South America. Argentina has recognised the opposition leader Juan Guaidó as the president. New Delhi has taken a cautious stand in the Venezuelan crisis since Caracas is the large oil exporter to India.&nbsp;

There may also be some special declaration on Pulwama attacks by the President of Argentina during his India visit.

Argentina President Mauricio Macri who is on a three-day visit to India met Prime Minister Narendra Modi at Hyderabad House today. Macri landed in India on Sunday and visited Agra on the first day of his stay in the country.

Argentina President Mauricio Macri who is on a three-day visit to India met Prime Minister Narendra Modi at Hyderabad House today. Macri landed in India on Sunday and visited Agra on the first day of his stay in the country. The Argentina President was accorded a ceremonial reception at Rashtrapati Bhawan today morning. Speaking to media after the reception, standing alongside President Kovind and PM Modi, he said, "Very Gald to be in India, such a wonderful country. We have great expectations about the future of the relations between both countries. We have many things to develop together in favour of the future of our people". The visit comes at a time when both the countries are celebrating the 70th year of the establishment of diplomatic ties between India and Argentina. PM Modi met with President Macri last year in Buenos Aires on the sidelines of G20 summit from November 30 to December 1. Argentina which became the first Latin American country to host G20 last year assured full support to New Delhi which will host the G20 summit in 2022. "We are at the disposal of India to share any kind of and all the experience we have. It's the job you do in the whole year, the summit is just last expression. India will do it pretty well, you have a lot of experience. There will be no problem", Ambassador of Argentina, Daniel Chuburu said. The visit comes even as Venezuela has been the focus in South America. Argentina has recognised the opposition leader Juan Guaidó as the president. New Delhi has taken a cautious stand in the Venezuelan crisis since Caracas is the large oil exporter to India. There may also be some special declaration on Pulwama attacks by the President of Argentina during his India visit.

Have great expectations about future of relation with India: Argentina President Mauricio Macri

Argentina's President Mauricio Macri arrived Sunday on a three-day India visit during which he will hold talks with Prime Minister Narendra Modi to enhance cooperation in key sectors such as economy, nuclear technology and space.

President Macri was received at the airport by Information and Broadcasting Minister Rajyavardhan Rathore. &nbsp;"Bienvenido Se or Presidente! President of #Argentina @mauriciomacri arrived in Delhi on a 3-days State Visit, accompanied by First Lady &amp; a high level delegation. India and Argentina are celebrating the 70th anniversary of establishment of diplomatic relations," Ministry of External Affairs Spokesperson Raveesh Kumar tweeted.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Bienvenido Señor Presidente! 
President of <a href="https://twitter.com/hashtag/Argentina?src=hash&amp;ref_src=twsrc%5Etfw">#Argentina</a> <a href="https://twitter.com/mauriciomacri?ref_src=twsrc%5Etfw">@mauriciomacri</a> arrived in Delhi on a 3-days State Visit, accompanied by First Lady &amp; a high level delegation. India and Argentina are celebrating the 70th anniversary of establishment of diplomatic relations. <a href="https://t.co/gdKkB0HWs2">pic.twitter.com/gdKkB0HWs2</a>
— Raveesh Kumar (@MEAIndia) <a href="https://twitter.com/MEAIndia/status/1097005697106087936?ref_src=twsrc%5Etfw">February 17, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Macri will hold delegation-level talks with Modi and have other official engagements on Monday.

During his visit, President Macri will also meet President Ram Nath Kovind. 
He will travel to Mumbai on February 19. He is also likely to visit Agra during his trip.

Macri's visit to India follows Modi travelling to Argentina in late 2018 for the G20 summit, during which the leaders had a "very productive" bilateral meeting.

The trade between the two sides stands at around USD 3 billion. 
"This visit will provide opportunity to the two sides to review progress in bilateral ties and to explore new avenues of cooperation," the MEA had said.&nbsp;

Argentina's President Mauricio Macri arrived Sunday on a three-day India visit during which he will hold talks with Prime Minister Narendra Modi to enhance cooperation in key sectors such as economy, nuclear technology and space.

Argentina's President Mauricio Macri arrived Sunday on a three-day India visit during which he will hold talks with Prime Minister Narendra Modi to enhance cooperation in key sectors such as economy, nuclear technology and space. President Macri was received at the airport by Information and Broadcasting Minister Rajyavardhan Rathore. "Bienvenido Se or Presidente! President of #Argentina @mauriciomacri arrived in Delhi on a 3-days State Visit, accompanied by First Lady & a high level delegation. India and Argentina are celebrating the 70th anniversary of establishment of diplomatic relations," Ministry of External Affairs Spokesperson Raveesh Kumar tweeted. Bienvenido Señor Presidente! President of #Argentina @mauriciomacri arrived in Delhi on a 3-days State Visit, accompanied by First Lady & a high level delegation. India and Argentina are celebrating the 70th anniversary of establishment of diplomatic relations. pic.twitter.com/gdKkB0HWs2 — Raveesh Kumar (@MEAIndia) February 17, 2019 × Macri will hold delegation-level talks with Modi and have other official engagements on Monday. During his visit, President Macri will also meet President Ram Nath Kovind. He will travel to Mumbai on February 19. He is also likely to visit Agra during his trip. Macri's visit to India follows Modi travelling to Argentina in late 2018 for the G20 summit, during which the leaders had a "very productive" bilateral meeting. The trade between the two sides stands at around USD 3 billion. "This visit will provide opportunity to the two sides to review progress in bilateral ties and to explore new avenues of cooperation," the MEA had said.

Argentina President Macri arrives on 3-day visit to India 

Argentina's President Mauricio Macri will be in India from Sunday on a 3-day visit that will end on Tuesday. The Argentine President will be accompanied by Argentina's First Lady Juliana Awada, Chamber of Deputies Speaker, Emilio Monzo and Foreign Minister Jorge Faurie, among other officials.&nbsp;

The visit comes at a time when both the countries are celebrating the 70th year of the establishment of diplomatic ties between India and Argentina.

The Ministry of External Affairs in a statement said, "This visit will provide an opportunity to both sides to review progress in bilateral ties and to explore new avenues of cooperation".

Ahead of the visit, <a href="http://www.wionews.com/india-news/india-will-do-pretty-well-in-hosting-g20-summit-2022-argentine-envoy-to-wion-197766">Argentina's envoy to India Daniel Chuburu spoke to WION</a> and said, "We are good friends with India and have worked politically for many many years in a lot of different places, we firmly believe, the potential our relations can achieve is not being done."

Indian Prime Minister Narendra Modi met Argentina's President in 2018 in Buenos Aires on the sidelines of G20 summit from November 30 to December 1. India will be hosting G20 summit in 2022. Argentina, which became the first Latin American country to host G20 last year, assured full support to New Delhi.

"We are at the disposal of India to share any kind of and all the experience we have. It's the job you do in the whole year, the summit is just last expression. India will do it pretty well, you have a lot of experience. There will be no problem", Chuburu said.

The visit comes amid the Venezuelan crisis which has been the focus in South America. Argentina has recognised the opposition leader Juan Guaidó as the Venezuelan president. New Delhi has taken a cautious stand on the Venezuelan crisis since Caracas is a crucial oil exporter to India.&nbsp;

There may be some special declaration on Pulwama attacks by the Argentine President during his India visit.

On Sunday, he will visit Agra while Monday will be the main day of engagement when he will meet Prime Minister Modi and President Ram Nath Kovind. He will end his visit in Mumbai on February 19. &nbsp;

Bilateral trade between both the countries at present is around $3 billion with India exporting two-wheelers, iron and steel, agrochemicals, yarn, organic chemicals, bulk drugs and drug intermediates and motor vehicles to the South American country. Argentina's exports to India has been mainly vegetable oils, finished leather, cereals, residual chemicals and allied products and pulses.

Several Indian companies have invested in IT, agro-chemical, pharmaceutical and cosmetic sectors in Argentina; total Indian investments stand at $1 billion.

Argentina's President Mauricio Macri will be in India from Sunday on a 3-day visit that will end on Tuesday. The Argentine President will be accompanied by Argentina's First Lady Juliana Awada, Chamber of Deputies Speaker, Emilio Monzo and Foreign Minister Jorge Faurie, among other officials.

Argentina's President Mauricio Macri will be in India from Sunday on a 3-day visit that will end on Tuesday. The Argentine President will be accompanied by Argentina's First Lady Juliana Awada, Chamber of Deputies Speaker, Emilio Monzo and Foreign Minister Jorge Faurie, among other officials. The visit comes at a time when both the countries are celebrating the 70th year of the establishment of diplomatic ties between India and Argentina. The Ministry of External Affairs in a statement said, "This visit will provide an opportunity to both sides to review progress in bilateral ties and to explore new avenues of cooperation". Ahead of the visit, Argentina's envoy to India Daniel Chuburu spoke to WION and said, "We are good friends with India and have worked politically for many many years in a lot of different places, we firmly believe, the potential our relations can achieve is not being done." Indian Prime Minister Narendra Modi met Argentina's President in 2018 in Buenos Aires on the sidelines of G20 summit from November 30 to December 1. India will be hosting G20 summit in 2022. Argentina, which became the first Latin American country to host G20 last year, assured full support to New Delhi. "We are at the disposal of India to share any kind of and all the experience we have. It's the job you do in the whole year, the summit is just last expression. India will do it pretty well, you have a lot of experience. There will be no problem", Chuburu said. The visit comes amid the Venezuelan crisis which has been the focus in South America. Argentina has recognised the opposition leader Juan Guaidó as the Venezuelan president. New Delhi has taken a cautious stand on the Venezuelan crisis since Caracas is a crucial oil exporter to India. There may be some special declaration on Pulwama attacks by the Argentine President during his India visit. On Sunday, he will visit Agra while Monday will be the main day of engagement when he will meet Prime Minister Modi and President Ram Nath Kovind. He will end his visit in Mumbai on February 19. Bilateral trade between both the countries at present is around $3 billion with India exporting two-wheelers, iron and steel, agrochemicals, yarn, organic chemicals, bulk drugs and drug intermediates and motor vehicles to the South American country. Argentina's exports to India has been mainly vegetable oils, finished leather, cereals, residual chemicals and allied products and pulses. Several Indian companies have invested in IT, agro-chemical, pharmaceutical and cosmetic sectors in Argentina; total Indian investments stand at $1 billion.

Argentine President Macri to visit India from February 17 to 19

Mauricio Macri, President of Argentina, came forward and joined calls for the search for missing Cardiff City footballer <a href="http://www.wionews.com/sports/factbox-cardiff-city-striker-emiliano-sala-192054">Emiliano Sala</a> to resume.&nbsp;

Cardiff City's new signing Sala and the aircraft's pilot, David Ibbotson, have been missing since Monday night.&nbsp;

Rescuers said on Thursday that they had <a href="http://www.wionews.com/sports/rescuers-end-search-for-missing-plane-carrying-football-star-emiliano-sala-192562">ended the search</a> stating that the chances of survival of both, pilot and footballer, were extremely remote.&nbsp;

As per an official statement, Macri&nbsp;told his foreign minister to issue formal requests to Britain and France.&nbsp;

Mauricio released a statement from his office stating that a formal request has been sent to the governments of Great Britain and France asking search Sala to resume.&nbsp;

The statement read, "President Mauricio Macri instructed foreign minister Jorge Faurie to make a formal request to the governments of Great Britain and France to ask them to maintain the search efforts."

It is expected that Mr Faurie will make the request to both nations' embassies soon.&nbsp;

Argentine footballer <a href="http://cms.wionews.com/sports/lionel-messi-requests-authorities-to-resume-search-for-missing-argentine-footballer-emiliano-sala-192878">Lionel Messi has also urged</a> the authorities to continue the search.&nbsp;

Messi wrote on his Instagram, "While there are possibilities, a thread of hope, we ask you to please do not stop looking."

Earlier, Romina Sala, sister of missing footballer Sala, made an <a href="http://www.wionews.com/sports/please-dont-stop-the-search-emiliano-salas-sister-pleads-192598">emotional plea to continue the search</a>.

"It is very difficult at the moment. I feel very confused. The only thing I want is for my brother to be found, for the pilot to be found," she said.&nbsp;

"I feel that they are alive and that they are OK and that they are waiting for us," she added.

When the search was called off,&nbsp;the rescuers had mentioned that chances of finding either of them alive were almost vanishingly slim.&nbsp;

Mauricio Macri, President of Argentina, came forward and joined calls for the search for missing Cardiff City footballer Emiliano Sala to resume. Cardiff City's new signing Sala and the aircraft's pilot, David Ibbotson, have been missing since Monday night.

Mauricio Macri, President of Argentina, came forward and joined calls for the search for missing Cardiff City footballer Emiliano Sala to resume. Cardiff City's new signing Sala and the aircraft's pilot, David Ibbotson, have been missing since Monday night. Rescuers said on Thursday that they had ended the search stating that the chances of survival of both, pilot and footballer, were extremely remote. As per an official statement, Macri told his foreign minister to issue formal requests to Britain and France. Mauricio released a statement from his office stating that a formal request has been sent to the governments of Great Britain and France asking search Sala to resume. The statement read, "President Mauricio Macri instructed foreign minister Jorge Faurie to make a formal request to the governments of Great Britain and France to ask them to maintain the search efforts." It is expected that Mr Faurie will make the request to both nations' embassies soon. Argentine footballer Lionel Messi has also urged the authorities to continue the search. Messi wrote on his Instagram, "While there are possibilities, a thread of hope, we ask you to please do not stop looking." Earlier, Romina Sala, sister of missing footballer Sala, made an emotional plea to continue the search. "It is very difficult at the moment. I feel very confused. The only thing I want is for my brother to be found, for the pilot to be found," she said. "I feel that they are alive and that they are OK and that they are waiting for us," she added. When the search was called off, the rescuers had mentioned that chances of finding either of them alive were almost vanishingly slim.

Argentine president Mauricio Macri requests new search for footballer Emiliano Sala

The lower house of Argentina's Congress approved Thursday an unpopular austerity budget designed to meet the requirements of a $57 billion IMF bailout.

The vote came in the early morning after 14 hours of debate and a day of unrest that saw police fire tear gas at people throwing rocks outside the legislature building to protest the 2019 blueprint's bitter cocktail of tax increases and spending cuts.

The vote tally was 138 in favour to 103 against, with eight abstentions. The draft now goes to the Senate for approval.

Unions and the leftist opposition have criticized center-right President Mauricio Macri's economic program of sweeping spending cuts to meet the deficit-reduction requirements of the IMF loan.

The bailout is supposed to help Argentina recover from an economic crisis in which the peso has lost half its value this year, inflation is forecast to finish the year at 40 per cent and the economy is expected to shrink by 2.6 per cent.

"We are in a crisis and the government must take responsibility. Social problems and the recession oblige us to pass the law," ruling Cambiemos party lawmaker Mario Negri said in a speech after the budget passed.

"To have no budget would be a defeat for the country," he added.

Macri has pledged cuts of $10 billion in health, education, science, transportation, public works and culture.

"No to the IMF budget. Don't cut our future!" shouted demonstrators outside while, inside the chamber, feelings ran high as lawmakers jostled and traded insults ahead of the vote.&nbsp;

Street protests have reflected growing public anger after Macri slashed civil service jobs as part of a bid to cut Argentina's fiscal deficit and tame inflation at the IMF's behest.

The budget deficit was 3.9 per cent of GDP last year. The government aims to get it down to 2.7 per cent in 2018 and zero by the end of next year.

The lower house of Argentina's Congress approved Thursday an unpopular austerity budget designed to meet the requirements of a $57 billion IMF bailout. The vote came in the early morning after 14 hours of debate and a day of unrest that saw police fire tear gas at people throwing rocks outside the legislature building to protest the 2019 blueprint's bitter cocktail of tax increases and spending cuts.

The lower house of Argentina's Congress approved Thursday an unpopular austerity budget designed to meet the requirements of a $57 billion IMF bailout. The vote came in the early morning after 14 hours of debate and a day of unrest that saw police fire tear gas at people throwing rocks outside the legislature building to protest the 2019 blueprint's bitter cocktail of tax increases and spending cuts. The vote tally was 138 in favour to 103 against, with eight abstentions. The draft now goes to the Senate for approval. Unions and the leftist opposition have criticized center-right President Mauricio Macri's economic program of sweeping spending cuts to meet the deficit-reduction requirements of the IMF loan. The bailout is supposed to help Argentina recover from an economic crisis in which the peso has lost half its value this year, inflation is forecast to finish the year at 40 per cent and the economy is expected to shrink by 2.6 per cent. "We are in a crisis and the government must take responsibility. Social problems and the recession oblige us to pass the law," ruling Cambiemos party lawmaker Mario Negri said in a speech after the budget passed. "To have no budget would be a defeat for the country," he added. Macri has pledged cuts of $10 billion in health, education, science, transportation, public works and culture. "No to the IMF budget. Don't cut our future!" shouted demonstrators outside while, inside the chamber, feelings ran high as lawmakers jostled and traded insults ahead of the vote. Street protests have reflected growing public anger after Macri slashed civil service jobs as part of a bid to cut Argentina's fiscal deficit and tame inflation at the IMF's behest. The budget deficit was 3.9 per cent of GDP last year. The government aims to get it down to 2.7 per cent in 2018 and zero by the end of next year.

Argentine lawmakers approve austerity budget

Argentina`s President Mauricio Macri`s center-right coalition swept crucial mid-term elections Sunday and emerged with a strengthened hand to carry through pro-market economic reforms, according to nearly completed count results.

Ex-president Cristina Kirchner took a seat in the Senate, marking a return to the political stage she dominated for 12 years before stepping down in 2015, and guaranteeing herself parliamentary immunity from a string of corruption charges.

&quot;We did not win as a party; what won was the certainty that we can change history, and build with love,&quot; a triumphant Macri told cheering supporters in Buenos Aires.

&quot;An Argentine with desire has no limits, we are unstoppable,&quot; he said.

Kirchner said her new center-left Unidad Ciudadana or &quot;Citizen`s Unity&quot; party had distinguished itself in the vote as the only alternative to Macri`s government.

&quot;We must be proud of this result. Unidad Ciudadana has emerged as the strongest opposition to this government,&quot; an ebullient Kirchner told her supporters.

&quot;Here nothing is over, everything starts now,&quot; she said.

Macri`s Cambiemos, or &quot;Let`s Change,&quot; won in 13 of Argentina`s 23 provinces, as well as in the capital Buenos Aires, according to almost completed counts early Monday.

Sunday`s vote, with an official turnout of 78 percent, was widely seen as a referendum on Macri after two years in office, in which he was seeking a mandate to further overhaul of an ailing G20 economy.

Macri has so far managed to push through a painful reform program with the help of allies, despite having only 87 seats in the 257-seat lower house of Congress and 15 of 72 senate seats.

Argentina`s TN television projected Cambiemos to gain 21 seats to take their representation in Congress to 108, which would be enough to deprive the opposition of a two-thirds majority to block Macri`s reforms, though still fall well short of an overall majority.&nbsp;

The opposition Peronist bloc was set to remain static at 145.

&quot;Peronism has suffered a fall in the vote,&quot; according to analyst Mariel Fornoni.

Aside from Buenos Aires province and city, Cambiemos candidates also polled strongly across the other major electoral centers -- Cordoba, Mendoza and Santa Fe.

Half of the Congress seats and a third of the Senate`s were being contested in Sunday`s vote.

Kirchner`s campaign pitch has been to promise to &quot;put the brakes on&quot; Macri`s cuts in tariffs on agricultural exports, deficit spending and loosening of labor laws.

Macri appealed to voters to &quot;not return to the past,&quot; attacking his predecessor`s populist policies.

&quot;I voted for the government candidates. I`m far from being convinced but I voted Macri in 2015. The most important thing is that Kirchner doesn`t come back,&quot; said teacher Sergio Peroti, 48, after voting in a school in the capital.

Macri`s Cambiemos is an alliance of parties of the right, center-right and social democrats of the historic Radical Civic Union.

Despite not having a legislative majority, Macri has been able to get laws passed by striking deals with Kirchner`s enemies in the Peronist movement and with governors who depend on federal funds to finance their budgets.Another ex-president, Carlos Menem, won a third term in the Senate at the age of 87, giving himself another four years of immunity despite being convicted for illegally trading weapons to Ecuador and Croatia.&nbsp;

Macri`s first year in office was marked by a 30 percent devaluation of the national currency and a 2.3 percent contraction of the economy.

But the economy has begun to recover, posting 1.6 percent growth in the first half of the year.

However, growth remains below the levels reached before 2010 under the back-to-back husband-and-wife governments of Nestor and Cristina Kirchner, in power from 2003 to 2015.

Macri has gained support for his economic reforms from the United States, the European Union and international lending institutions. He was showered with praise at a recent forum of Argentine business leaders.

Macri is an engineer by profession from a wealthy family that founded a business empire. His launching pad into politics was his chairmanship of the Boca Juniors football club, which won numerous local and international titles under his leadership.

Kirchner, on the other hand, is a former militant in the most combative Peronist factions during the difficult 1970s, when the country was run by a repressive military dictatorship. Her politics moderated with the return of democracy in Argentina.

She has been prosecuted for alleged corruption in office, but she insists she is the victim of political persecution.

Ex-president Cristina Kirchner took a seat in the Senate, marking a return to the political stage she dominated for 12 years before stepping down in 2015, and guaranteeing herself parliamentary immunity from a string of corruption charges.

Argentina`s President Mauricio Macri`s center-right coalition swept crucial mid-term elections Sunday and emerged with a strengthened hand to carry through pro-market economic reforms, according to nearly completed count results. Ex-president Cristina Kirchner took a seat in the Senate, marking a return to the political stage she dominated for 12 years before stepping down in 2015, and guaranteeing herself parliamentary immunity from a string of corruption charges. "We did not win as a party; what won was the certainty that we can change history, and build with love," a triumphant Macri told cheering supporters in Buenos Aires. "An Argentine with desire has no limits, we are unstoppable," he said. Kirchner said her new center-left Unidad Ciudadana or "Citizen`s Unity" party had distinguished itself in the vote as the only alternative to Macri`s government. "We must be proud of this result. Unidad Ciudadana has emerged as the strongest opposition to this government," an ebullient Kirchner told her supporters. "Here nothing is over, everything starts now," she said. Macri`s Cambiemos, or "Let`s Change," won in 13 of Argentina`s 23 provinces, as well as in the capital Buenos Aires, according to almost completed counts early Monday. Sunday`s vote, with an official turnout of 78 percent, was widely seen as a referendum on Macri after two years in office, in which he was seeking a mandate to further overhaul of an ailing G20 economy. Macri has so far managed to push through a painful reform program with the help of allies, despite having only 87 seats in the 257-seat lower house of Congress and 15 of 72 senate seats. Argentina`s TN television projected Cambiemos to gain 21 seats to take their representation in Congress to 108, which would be enough to deprive the opposition of a two-thirds majority to block Macri`s reforms, though still fall well short of an overall majority. The opposition Peronist bloc was set to remain static at 145. "Peronism has suffered a fall in the vote," according to analyst Mariel Fornoni. Aside from Buenos Aires province and city, Cambiemos candidates also polled strongly across the other major electoral centers -- Cordoba, Mendoza and Santa Fe. Half of the Congress seats and a third of the Senate`s were being contested in Sunday`s vote. Kirchner`s campaign pitch has been to promise to "put the brakes on" Macri`s cuts in tariffs on agricultural exports, deficit spending and loosening of labor laws. Macri appealed to voters to "not return to the past," attacking his predecessor`s populist policies. "I voted for the government candidates. I`m far from being convinced but I voted Macri in 2015. The most important thing is that Kirchner doesn`t come back," said teacher Sergio Peroti, 48, after voting in a school in the capital. Macri`s Cambiemos is an alliance of parties of the right, center-right and social democrats of the historic Radical Civic Union. Despite not having a legislative majority, Macri has been able to get laws passed by striking deals with Kirchner`s enemies in the Peronist movement and with governors who depend on federal funds to finance their budgets.Another ex-president, Carlos Menem, won a third term in the Senate at the age of 87, giving himself another four years of immunity despite being convicted for illegally trading weapons to Ecuador and Croatia. Macri`s first year in office was marked by a 30 percent devaluation of the national currency and a 2.3 percent contraction of the economy. But the economy has begun to recover, posting 1.6 percent growth in the first half of the year. However, growth remains below the levels reached before 2010 under the back-to-back husband-and-wife governments of Nestor and Cristina Kirchner, in power from 2003 to 2015. Macri has gained support for his economic reforms from the United States, the European Union and international lending institutions. He was showered with praise at a recent forum of Argentine business leaders. Macri is an engineer by profession from a wealthy family that founded a business empire. His launching pad into politics was his chairmanship of the Boca Juniors football club, which won numerous local and international titles under his leadership. Kirchner, on the other hand, is a former militant in the most combative Peronist factions during the difficult 1970s, when the country was run by a repressive military dictatorship. Her politics moderated with the return of democracy in Argentina. She has been prosecuted for alleged corruption in office, but she insists she is the victim of political persecution.

Argentina's President Mauricio Macri's center-right wins crucial mid-term poll

Argentina football legend Diego Maradona was unable to travel to Dubai because his passport was &quot;stolen&quot;, the World Cup winner&#39;s lawyer said. 
 
&quot;They (Buenos Aires airport authorities) told him his passport&nbsp;had been reported as stolen despite Diego holding it in his hands!&quot; Diego Morla, Maradona&#39;s lawyer said. 
 
&quot;Diego is really surprised by this saga, which has strangely happened right after he criticised the government,&quot; Morla told AFP. 
 
Maradona had recently slammed the new government. He had said the country had fallen to its knees ever since the Mauricio Macri administration had come to power. 
 
&quot;Logically, I&#39;d like for Macri to turn things around and give some joy to the people, but for now all I see is firings,&quot; Maradona had told Argentina&#39;s radio La Red.&nbsp; 
 
(WION with inputs from AFP)

The football legend was unable to travel to the Middle East despite him carrying his passport with him

Argentina football legend Diego Maradona was unable to travel to Dubai because his passport was "stolen", the World Cup winner's lawyer said. "They (Buenos Aires airport authorities) told him his passport had been reported as stolen despite Diego holding it in his hands!" Diego Morla, Maradona's lawyer said. "Diego is really surprised by this saga, which has strangely happened right after he criticised the government," Morla told AFP. Maradona had recently slammed the new government. He had said the country had fallen to its knees ever since the Mauricio Macri administration had come to power. "Logically, I'd like for Macri to turn things around and give some joy to the people, but for now all I see is firings," Maradona had told Argentina's radio La Red. (WION with inputs from AFP)

Maradona denied Dubai travel over 'stolen' passport

President Mauricio Macri on Saturday defended his move to hike Argentinas energy rates as a &quot;painful&quot; but necessary part of fixing the economy after years of mismanagement under his leftist predecessor. 
 
Macri&#39;s remarks came two days after an Argentine court halted price increases for gas and electricity, hurting his drive to narrow the fiscal deficit by cutting energy subsidies. 
 
The dispute will likely end up in the Supreme Court. 
 
&quot;If there had been an alternative I would have taken it, but there was no alternative,&quot; 
 
Macri said in a speech marking the countrys bicentennial independence day celebration. 
 
Macri cut energy subsidies and hiked power rates in January shortly after taking office, saying that frozen tariffs during the government of former President Cristina Fernandez had left the grid on the brink of collapse. 
 
Macri said the decision, which raised tariffs by more than 1,000 percent in some places, &quot;still pains me.&quot; 
 
&quot;All transitions are hard. We took over a country beaten down by lies and corruption,&quot; Macri said from the northern province of Tucuman, the cradle of Argentinas independence. 
 
&quot;Lets learn to consume the least amount of energy possible,&quot; 
 
Macri added, touting the environmental benefits of doing so. 
 
Macri, who assumed power in December, promised to double down on efforts to slow inflation while pulling the economy out of recession. 
 
He asked Argentines celebrating their countrys bicentennial for patience. 
 
&quot;Seven months is nothing out of 200 years,&quot; Macri said. 
 
(Reuters)

Macri?had cut?energy subsidies and hiked power rates only a month after taking office but a court recently halted the price increase

President Mauricio Macri on Saturday defended his move to hike Argentinas energy rates as a "painful" but necessary part of fixing the economy after years of mismanagement under his leftist predecessor. Macri's remarks came two days after an Argentine court halted price increases for gas and electricity, hurting his drive to narrow the fiscal deficit by cutting energy subsidies. The dispute will likely end up in the Supreme Court. "If there had been an alternative I would have taken it, but there was no alternative," Macri said in a speech marking the countrys bicentennial independence day celebration. Macri cut energy subsidies and hiked power rates in January shortly after taking office, saying that frozen tariffs during the government of former President Cristina Fernandez had left the grid on the brink of collapse. Macri said the decision, which raised tariffs by more than 1,000 percent in some places, "still pains me." "All transitions are hard. We took over a country beaten down by lies and corruption," Macri said from the northern province of Tucuman, the cradle of Argentinas independence. "Lets learn to consume the least amount of energy possible," Macri added, touting the environmental benefits of doing so. Macri, who assumed power in December, promised to double down on efforts to slow inflation while pulling the economy out of recession. He asked Argentines celebrating their countrys bicentennial for patience. "Seven months is nothing out of 200 years," Macri said. (Reuters)

Argentina's Macri defends energy rate hikes after court injunction

Argentina President Mauricio Macri has personally contacted star striker Lionel Messi and urged him not to call it quits on the national team. 
 
Twenty-nine-year-old Messi announced his retirement from international football after missing his spot-kick in the decisive shootout, as Argentina once again lost to Chile for a second straight year in the Copa America final at Met Life Stadium, the United States on Sunday. 
 
According to the goal.com, Macri said that he was really proud of the national team&#39;s performance and requested the Barcelona star ignore the criticism. The Argentina President also took to micro-blogging website Twitter, asking Messi not to leave the team.&nbsp; 
 
&quot;I never feel greater pride in our team. I hope the joy of seeing the best in the world will continue for many years more. #NoTeVayasLio,&quot; he tweeted. 
 
Meanwhile, Legendary Argentina footballer Diego Maradona also appealed to the Barcelona talisman to reconsider his retirement plans for the national team&#39;s benefit. &quot;He has to rely more on boys who can help take the team forward and less on those who say they have to go. Those who are saying he should quit are doing it so that we won&#39;t see what a disaster Argentine football has become,&quot; Maradona said. 
 
Following the 4-2 loss on penalties, a visibly distraught Messi said that it hurts not to be a champion despite reaching four finals before adding that &quot;The national team is over for me&quot;. 
 
Despite winning eight La Liga titles and four Champions Leagues with Barcelona, Messi&#39;s only major international honour is Olympic gold at the 2008 Games. In addition to losing three Copa America finals (2007, 2015, 2016), Messi&#39;s Argentina were beaten by Germany in the 2014 World Cup final. 
 
(ANI)&nbsp;

Legendary Argentina footballer Diego Maradona also appealed to the Barcelona star to reconsider his retirement plans

Argentina President Mauricio Macri has personally contacted star striker Lionel Messi and urged him not to call it quits on the national team. Twenty-nine-year-old Messi announced his retirement from international football after missing his spot-kick in the decisive shootout, as Argentina once again lost to Chile for a second straight year in the Copa America final at Met Life Stadium, the United States on Sunday. According to the goal.com, Macri said that he was really proud of the national team's performance and requested the Barcelona star ignore the criticism. The Argentina President also took to micro-blogging website Twitter, asking Messi not to leave the team. "I never feel greater pride in our team. I hope the joy of seeing the best in the world will continue for many years more. #NoTeVayasLio," he tweeted. Meanwhile, Legendary Argentina footballer Diego Maradona also appealed to the Barcelona talisman to reconsider his retirement plans for the national team's benefit. "He has to rely more on boys who can help take the team forward and less on those who say they have to go. Those who are saying he should quit are doing it so that we won't see what a disaster Argentine football has become," Maradona said. Following the 4-2 loss on penalties, a visibly distraught Messi said that it hurts not to be a champion despite reaching four finals before adding that "The national team is over for me". Despite winning eight La Liga titles and four Champions Leagues with Barcelona, Messi's only major international honour is Olympic gold at the 2008 Games. In addition to losing three Copa America finals (2007, 2015, 2016), Messi's Argentina were beaten by Germany in the 2014 World Cup final. (ANI)

Argentina President urges Messi not to call it quits

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