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Weekly Report - 19 October 2023 (WR-23-42)
ARGENTINA: Milei in pole position as campaign ends
The Day of Peronist Loyalty fell on 17 October, five days before the first round of presidential elections. In any ordinary electoral year it would provide the stage for a massive rally to conclude the campaign on a high for the Peronist presidential candidate. But Peronist loyalty has been sorely tested this year. Inflation continues to scale new heights, the annual rate reaching 138.3% in September, according to the latest figures released by the national statistics institute (Indec); more than 40% of Argentines are now living beneath the poverty line; and the peso is in freefall. Economic desperation and political disillusionment have combined to catapult the far-right populist Javier Milei to the top of the polls.
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