Argentine President seen losing strength in mid-term elections

|By:, SA News Editor

Cristina Fernandez de Kirchner, the President of Argentina, is expected to lose a significant amount of strength in the country's legislature today as Argentinians vote for half of the lower house of Congress and a third of the Senate.

The elections come amid inflation that's estimated at 25%, import limits and a shortage of dollars, which have helped the popularity Kirchner and her left-wing Victory Front coalition to slump.

Argentine stocks (ARGT) and bonds have been rallying ahead of the vote on hopes that more business-friendly politicians will do well and set them up nicely for a Presidential run in 2015. Markets are expected to rise further if Kirchner's left-wing Victory Front coalition does as badly as the polls indicate.