BUENOS AIRES/MADRID: Argentina's likely next President, opposition front-runner Alberto Fernandez, laid out his populist credentials during a visit to Madrid on Thursday, saying local Argentine interests would trump those of creditors and energy investors.
Fernandez, a moderate Peronist running alongside populist ex-leader Cristina Fernandez de Kirchner, added he was committed to meeting debt obligations as long as it did not harm Argentines. Wary investors have been seeking clues about how Fernandez would lead South American's No. 2 economy since he soundly defeated incumbent President Mauricio Macri in an August primary, dashing the center-right president's chances of winning a general election in October.The shock result caused a market tailspin with the peso and bonds tumbling to record lows.
On Thursday, Argentina country risk fell by 140 basis points to 2,000, after it recently hit the highest levels since 2005 on political and economic concerns. The peso edged down 0.1per cent to 56.08 per dollar by early afternoon, traders said.
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