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Argentina votes with economy in chaos

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By Euronews
Argentina votes with economy in chaos

Argentina is voting for a new president with Buenos Aires state governor Daniel Scioli well ahead in the opinion polls.

He is the favoured candidate of outgoing president Cristina Fernandez, the most popular politician in the country.

This is an unusual election as the ruling party has overseen a economy where inflation is soaring, state control is in place,its international bonds are in default and the country is locked out of the lending markets.

A potential recipe for disaster, but not in Argentina.

Generous welfare reforms have kept the government popular.

Scioli has more orthodox ideas on the economy than Cristina Fernandez, but has kept his platform deliberately vague during the campaign.

The main threat to Scioli comes from the mayor of Buenos Aires, Mauricio Macri.

Macri, though popular in the capital, he has failed to make an impact in the wider country.

He is running at 20 to 25 percent, far short of the 40 percent needed for overall victory.