AFP: Macri predicts worse to come as Argentine peso, stock exchange plunge13 August 2019 | 05:00 | FOCUS News Agency
Markets panicked as the peso closed at 57.30 to the dollar, a drop of 18.76 percent from its Friday closing figure, while the Merval index crashed 38 percent by close.
On the New York stock exchange, Argentine bonds lost around 20 percent and shares in companies from the recession-hit South American country hemorrhaged more than 50 percent.
"This is just a taste of what's going to happen" if the Peronist Fernandez, whose running mate is corruption-tainted former president Cristina Kirchner, comes to office, Macri warned.
"This is about the past, there's a ton of people who don't keep their money in this country, who are leaving this country. It's incredible what could happen."
Ever since taking office, Macri has blamed Argentina's economic woes on the polices enacted by three successive Kirchner governments -- Cristina Kirchner's 2007-15 time in office was preceded by a single term for her late husband Nestor.
"We cannot go back to the past because the world sees this as the end of Argentina," said Macri.
"The Kirchnerist alternative has no credibility in the world."
Macri called a meeting with Central Bank president Guido Sandleris before the markets opened on Monday.
The Central Bank bought $50 million in pesos to try to halt the slide, but to no avail.
Speaking before the worst of the day's losses were known, Fernandez blamed the market reactions on government policies.
"The president cannot have peace of mind. The markets are giving warning that the government has put itself in a position it cannot respond to," Fernandez told Radio 10.
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