Alberto Fernández at his lowest ebb as president of Argentina

Alberto Fernández delivers a speech in Buenos Aires. Photo: Leo Suhring/Shutterstock
Alberto Fernández delivers a speech in Buenos Aires. Photo: Leo Suhring/Shutterstock

Pollsters show that President Alberto Fernández of Argentina is at his worst point since taking office in 2019, as the country continued to spiral into a debt and currency crisis throughout the week.

Only 21 percent of Argentinians polled by Synopsis said they had a positive view of Mr. Fernández. The percentage of respondents with a negative image of the president reached 78 percent in the latest measurements, 5 points above June.

The drop reflects what has been a month of political and economic instability, with Martín Guzmán resigning from the Economy Ministry and his replacement Silvina Batakis scrambling to contain a massive currency run with a series of austerity promises.

The Argentinian Peso has continued to lose value regardless, peaking at ARS 350 to the U.S. Dollar earlier today, and now trading at USD 1 : ARS 330 in the free market. 

The regulated official rate, meanwhile, stands at USD 1 : ARS 130, but Argentina’s Central Bank is heavily limiting imports to keep it at that value — as demand for cheap dollars outpaces supply.

Analysts have long-feared that this will ultimately lead to the inevitable devaluation of Argentina’s official exchange rate, making food and basic inputs even more expensive locally. 

Yesterday, social leader Juan Grabois — an on-and-off ally of the Fernández administration and close confidant of Pope Francis — was at his angriest during a public rally demanding further aid for the poor, warning of blood in the streets and potential looting if the situation did not improve.