Argentine President Mauricio Macri speaks to the press after voting during the primary elections in Buenos Aires on August 11, 2019.
He also announced an unspecified increase in the monthly minimum wage – currently 208 dollars, or 12,500 pesos – saying it would benefit two million workers. A man holds a 100 peso bill in the cashier of a restaurant in Buenos Aires, Argentina. August 14, 2019 The market-friendly Macri was dealt a huge blow in his bid for re-election when he polled 15 points less than centre-left Peronist candidate Alberto Fernandez in Sunday's primary elections, which served as a bellwether for general elections in October.
"My task is to ensure governance," Macri said in his message released before markets opened. "Dialogue is the only way. Uncertainty has caused a lot of damage and forces us to be responsible. I want to convey peace of mind in this electoral process that has begun." Earlier, a contrite Macri, who has slashed subsidies and trimmed the public sector since his election in 2015 in a bid to tame runaway inflation, acknowledged that what he had asked of Argentines "was very difficult, like climbing Aconcagua" – Argentina's highest mountain.
The measures "reflects the need to focus on those segments of the population who have been most significantly affected by the country's economic crisis, and who overwhelmingly turned their back on the president during the recent primaries," said Argentine expert Paula Garcia Tufro of the Atlantic Council.
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