Fernández won 48 per cent to current Argentine President Mauricio Macri’s 32 per cent. The peso dropped over 30 per cent, and the country’s main stock market fell 35 per cent. (Financial Times, BBC)

Talking point: If Fernández can maintain his current support levels, he’s on track to win the presidency during the October 27 general election; Argentine law grants victory to a candidate with over 45 per cent of the vote, or over 40 per cent with a 10-point lead. Fernández’s priorities include boosting workers’ rights, expanding pensions and undoing many of the austerity measures Macri has put in place since 2015. Macri has opened the country up to foreign investment and focused on a number of business-friendly policies. The election also has significant implications for the International Monetary Fund, which provided its largest-ever loan, US$56 billion, to Argentina and has backed Macri. Fernández has repeatedly suggested that loan should be renegotiated.