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Argentina’s Coalition Loses Senate Majority After Vote
Posted
November 15, 2021
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November 15, 2021
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2:38Now PlayingArgentina’s ruling coalition lost control of the senate after a stinging defeat in midterm elections, piling pressure on President Alberto Fernandez’s government as it struggles with a wrecked economy.
Fernandez’s left-wing bloc was behind in six of eight senate races with at least 98% of votes counted in each province after Sunday’s ballot, signaling that the government will drop below the 37 senators needed to move legislation forward by itself. It marks the first time since 1983 that Peronism, the movement founded by Juan Peron in the 1940s, won’t have control of the chamber.
Losing its senate majority represents a major setback for Vice President Cristina Fernandez de Kirchner, who presides over the chamber, and will complicate the passage of legislation. However, investors will probably cheer the prospect of a bigger role for the opposition in curbing the coalition’s power.
Voters appear to have punished Fernandez’s government for its fumbled handling of the pandemic and an economy marked by 52% annual inflation, 40% poverty and jitters over its weakened currency.
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