Political result raises fears of fresh Argentine debt crisis

Fears are rising that Argentina may be headed for another debt crisis, with president Mauricio Macri’s pummelling at the polls on Sunday leading to a sell-off of the country’s shares and debt.

The upset in the primary election — ahead of October’s presidential vote —both paves the way for a more protectionist government to take over in December and increases the view in the markets that outstanding bonds and an IMF programme will have to be renegotiated.