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In Argentina, the Ghost of Populism Haunts Investors Ahead of Elections

By Lucia He

Sunday’s primaries will test the strength of Cristina Fernández de Kirchner’s challenge to President Macri’s economic agenda.

Every morning María Graciela Ottaviani sets up a cart by the beach in Mar del Plata, Argentina, where she sells popcorn to the tourists that flock to the coastal city. It’s not easy work for the 71-year-old, who recently broke an elbow when she fell on the stairs.

But ever since President Mauricio Macri took office in December 2015, embarking on a reform program meant to attract investors and reignite the economy – including painful cuts to utility and transport subsidies common under his predecessor Cristina Fernández de Kirchner – Ottaviani’s retirement pension hasn’t been enough...

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