Walter Bianchi

BUENOS AIRE (Reuters) – Argentina’s Peronists licked the wounds of a disastrous midterm election loss. In key congressional battles, the conservative opposition won and defeated the ruling coalition.

In the fight for the Senate, the opposition Juntos coalition was badly defeated by the Frente de Todos in 2019. A third of the seats in that race were up for grabs.

It won the lower house by a smaller margin, but it was still significant. This result is in part due to the close fight in Buenos Aires province, which is the largest region and a stronghold of Peronists.

Beatriz Arguello, an elderly housewife from the capital said that “the people made themselves heard.” “Now, we are hopeful for some changes.”

After the vote, Alberto Fernandez from Argentina’s center-left declared that he would listen and promise a new platform for the country. He asked for consensus between the government and the opposition.

After the Peronists lost control of the Senate majority, which they have held since 1983, this will make it crucial that Fernandez, as well as his radical Vice President, Cristina Fernandez de Kirchner will reach across the aisle.

Local newspapers responded to defeat with front page comments, such as “hard electoral failure” and “devastating diagnose”. Pagina 12, which is more closely aligned with the party, looked for positives. “Defeat but the fight continues.”

The markets reacted muted to the slight increase in sovereign bond prices. The result is generally viewed positively by analysts if the government has to collaborate more closely with the opposition. Investors favor this outcome.

Voters called upon the opposition and government to address the country’s inflation problems. The peso currency is at an all-time low against the dollar with over 41% of the population living in poverty.

It was a surprise result. Heactor Lopez of small-business owners, 60, said that all politicians should get on the job to help this country get out of its current predicament.

Leaders of the opposition cheered. Former President Mauricio Maciel said that the conservatives must build upon the victory, and party great Patricia Bullrich praised the voters’ “great choice”.

“The best: We were able to secure the quorum for Cristina Fernandez de Kirchner’s Senate seat!” She spoke on Twitter (NYSE :).

Supporters of the government pointed out an improvement in September’s primary vote and a smaller defeat in Buenos Aires, which lost just under one percent.

Jimena Cueva 35, said that they ended the day asking for votes to be stopped because it was becoming smaller. She hoped the ruling coalition would win back the presidency vote in 2023.

Shila Vilker (head of Trespuntozero consultancy) said that government had “paid” most of the costs of defeat following the open primaries vote. That led to a major cabinet restructuring, although the Senate majority loss would still be painful.

She stated, “I think it’s a dignified victory for the government. And a dignified and non-catastrophic loss gives it some breathing room to go on.”