South America could be thrown into economic chaos if former Argentine leader Cristina Fernandez de Kirchner returns to power as vice-president in an election this Sunday, Brazil has warned.
Kirchner is the running mate of left-wing candidate Alberto Fernandez and would be seen by many as the power behind the throne if they unseat current president Mauricio Macri, as polls predict they will.
Although facing criminal allegations and blamed by many for economic chaos, Kirchner remains highly popular among many voters who see her as a champion of the working class.
Jair Bolsonaro, the right-wing leader of Brazil, warned that she could ‘endanger’ South America’s Mercosur trading bloc if she returns to office.
‘What we want is that Argentina continues the trade policies of Macri in case the opposition wins,’ Bolsonaro said.
Comeback: Argentina’s former president Cristina Fernandez de Kirchner (pictured at a campaign rally in Santa Rosa last week) is expected to return to power as vice-president
Commanding lead: Kirchner casts her vote at a polling station during primary elections on August 11 which put her ticket on course for victory
Argentina could be suspended from the trading bloc if those trade policies are overturned, the Brazilian president hinted.
‘If not, we may get together with Paraguay and Uruguay to make a decision,’ Bolsonaro warned.
Fernandez and Kirchner (no relation) are widely predicted to win the election after their ticket took a commanding lead in the primary election in August.
The election could head to a second round in November but the latest polls show Fernandez and Kirchner on course for an outright win.
Kirchner was president from 2007 to 2015, succeeding her husband Nestor who had run the country for the previous four years. He died in 2010.
The 66-year-old faces investigations into alleged fraud, money laundering and other allegations, although she enjoys immunity from arrest as a member of Congress and would keep it as vice-president.
She has often visited Cuba to see daughter Florencia, who has received medical treatment there this year. Her son Maximo is a deputy in Congress and also faces legal problems.
However, Kirchner retains immense popularity among Argentines who view her as a champion of the poor.
Warning: Brazil’s far-right leader Jair Bolsonaro (pictured at the Japanese imperial enthronement in Tokyo earlier this week) has warned of economic chaos if Kirchner wins
Advertisements: A series of election posters for Fernandez and Kirchner are seen covered in graffiti in Buenos Aires yesterday
Supporters wear T-shirts bearing her image, refer to her affectionately by her initials CFK and barely mention presidential candidate Fernandez.
‘She’s the one who has the votes, she makes it all happen,’ said Gaston Perez, who waited more than four hours to see her in Buenos Aires.
At the rally she electrified the crowd, reflecting an emotional connection that eludes most other Argentine politicians.
‘If I’m a candidate for vice president, it’s not because I want to be vice president. That’s clear. I thought of it as a way to help shape a new majority in Argentina,’ she said.
Her campaign is tapping into anger over an austerity package imposed by Macri’s government as part of a $55billion financing deal with the IMF.
The current president’s supporters counter that the big spending and state intervention under Kirchner’s leadership got Argentina into trouble in the first place.
The stunning results of the primary – a win for Fernandez by nearly 16 points – sparked economic panic and a market sell-off.
On the day after the primary Argentines rushed to buy dollars as a hedge against possible economic volatility.
Incumbent: Argentina’s current president Mauricio Macri (holding the microphone) faces an uphill battle to stay in power
Challenger: Left-wing candidate Alberto Fernandez (pictured during an election debate on Sunday) is expected to win the election with his running mate Kirchner
After loud complaints from bankers, consumers and business leaders, the central bank started spending its dollar reserves to bolster the local currency.
Macri’s campaign has sought to exploit those fears, arguing that Kirchner would be the puppet master under a new left-wing presidency.
‘She’ll be the one who governs,’ said Miguel Pichetto, Macri’s candidate for vice president. ‘She’s the one who would have power, have no doubt.’
Nicolas Trotta, an aide on the Fernandez-Kirchner ticket, dismissed that theory but said the new president would ‘gladly consult’ his deputy.
Another analyst, Patricio Giusto, also doubted she would try to sideline Fernandez.
‘I don’t see Cristina wanting to turn Alberto into a puppet, speaking over him, making her own administrative agenda,’ he said.
The Mercosur trade bloc was established in 1991 and now includes Argentina, Brazil, Paraguay and Uruguay as full members.
Venezuela was a full member but was expelled in 2016.