The End Of Kirchnerísmo

President Cristina Fernández and her ruling Frente para Victoria bloc have suffered defeat in last Sunday's mid-term elections, in which the ruling coalition lost its majority in both houses of congress. Although we caution that this could lead to an increase in public spending to boost the party's popularity ahead of the 2011 presidential election, we see this development as a positive step for Argentina's long-term economic outlook, as it should put an end to the government's grip on the private sector.

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