Elections in Argentina: Peronism loses control of the Senate

After the votes were fully counted, Argentina's elections on 14 November reflected results that were a far cry from those seen in previous elections. The ruling Frente de Todos (FTD) party, made up of Peronist ideologies, scored nine points less than its main opponent, the centre-right coalition Juntos por el Cambio.

The mid-term legislative elections have dealt a blow to the Peronist government of President Alberto Fernández and Vice-President Cristina Fernández. The results show the loss of support in virtually the entire country, including the traditionally Peronist capital, Buenos Aires. The Frente de Todos coalition is facing the biggest setback experienced by Peronism since 1983, losing its quorum and majority in the Senate, where of the 41 seats it held, it has retained only 35 of a possible 72.

According to the provisional count, the Frente de Todos list obtained the majority of votes in 9 of 24 jurisdictions, while the Juntos por el Cambio list, to which former president Mauricio Macri belongs, won in 12. These results mean that the Peronist government, despite remaining the leading political force in the Chamber of Deputies, will not be able to impose its legislative objectives as easily, which will undoubtedly limit its legislative action considerably.

President Fernández, after the results, appeared on national television and admitted to having made mistakes: "We have made mistakes, I have made mistakes and our obligation is to learn from them". He also announced that "today begins the second part of our government".

In Argentina's main province, the ruling party, represented by Victoria Tolosa Paz, won 38 per cent of the vote, while the candidate of the Juntos por el Cambio party won 40 per cent of the support.

In the country's capital, the City of Buenos Aires, former governor María Eugenia Vidal, candidate of the Juntos por el Cambio party, came out comfortably ahead of her rivals, with 47% of the vote in her favour. In contrast, the party of President Alberto Fernández obtained 25 per cent, followed by the far-right candidate Javier Milei, who became the third political force in the Argentine capital.

The 2019 general elections gave a comfortable victory to current president Alberto Fernández, although two years later his image seems to have lost followers mainly due to the continuing economic crisis plaguing Argentina.

During the 2019 campaign, Alberto Fernández promises to "ignite the economy" with a socio-economic policy, the results of which have worsened the 2018 figures, which showed a fall of 2.01% and which, in 2020, promoted by the COVID-19 pandemic, has fallen by 9.9%.

The CPI stood at 52% in 2021, making Argentina the fifth most inflated nation in the world, behind only Venezuela, Zimbabwe, Suriname and Sudan. This situation has led to rising inflation affecting the salaries and pensions of Argentine citizens which, together with rising commodity prices, has pushed three million Argentines into poverty during the Fernández government, reaching a total of 20 million poor out of the country's 45 million inhabitants, 46% of the population, according to official data from the National Institute of Statistics (INDEC).

Internationally, Argentina has a debt equivalent to 103% of GDP, of which 44 million dollars are owed to the IMF. This could result in the country facing a possible default and incurring penalties.

The election results are evidence of a change in the orientation of the population, which is now opting for the centre-right party as an alternative, distancing itself from the government's Peronism. With this situation, Fernández's government will have to face the 2023 presidential elections without being the favourite in the polls and with many fronts to tackle.

The publication of the official results will mark the beginning of a new stage for the Argentine government, which will try to resolve the problems facing the country, including the imminent renegotiation of the debt with the IMF.

"In this new stage we must prioritise national agreements. If we want to resolve the challenges we face, we need the great majorities to generate consensus. In this sense, and as soon as possible, I will address the representatives of the popular will and the political forces they represent, in order to agree on an agenda that is as shared as possible", said Alberto Fernández in his appearance after the election results were announced.

Latin America Coordinator: José Antonio Sierra.