A couple of weeks ago, Argentina’s first president, Cristina Fernández de Kirchner, won a landslide reelection with the backing of the left-wing populist coalition.
The outcome is an embarrassment for the incumbent, Mauricio Macri, who has been in office for seven years and has been fighting a brutal economic crisis since 2013.
He will be challenged by Argentina’s second most powerful person, Juan Carlos Valls, a centrist and former economy minister, who is expected to win.
If the elections go to the polls on May 5, Mr Macri is likely to lose, but if the next president wins the popular vote and is elected by a coalition, his political career may go on for years.
“The first thing is to be very careful about the next elections.
We’re in a very fragile period of transition,” says Elisa Bardi, who teaches politics at the National Autonomous University of Argentina.
“I’m very confident that we’ll get through this.”
It is the biggest election in Argentina’s history, and the country has seen a series of populist governments in recent decades.
The last one, in 2013, saw the election of president Mauricio Márquez who was the son of a former communist leader and the grandson of the late dictator, Augusto Pinochet.
But it was Mr Macías presidency that triggered a wave of protests.
The protests were violent and widespread, with more than 300 people killed.
The violence and protests left a deep imprint on the country.
Mr Macás popularity plummeted and he eventually resigned from office in the face of the demonstrations.
Mr Valls is a former general and a former leader of the country’s main opposition, the Centre for Democratic Unity (UD).
He was re-elected in May.
Argentina is a country of around 100 million people.
The next president will be chosen from the two main parties and will face a runoff election between March and May.
The runoff elections will take place in March, with candidates facing off against each other in the general election on May 12.
The first round of the general elections takes place on February 15, and Mr Macarelli will face off against Mr Vallas, who won the last general election in May 2017.
The general elections will be closely watched by investors and the general population.
“They are a very important event, as it’s the first time in the country in over a decade that they’ll be held,” says Alexey Yudintsev, a political scientist at the Russian Academy of Sciences.
“It’s very important that the public knows that these elections are very important.”
For some observers, it’s hard to see the outcome as anything other than a disaster for the country and its economy.
Argentina’s economy was in a state of crisis for years before the protests, as the country struggled to balance its growing export-driven economy with a domestic one.
“There’s a lot of uncertainty in the economy, the economy is really in crisis, it needs to be supported,” says Mark Gagnon, an analyst at Capital Economics, a research firm.
“This is the second election in a row that will be very important for the government.”
The economic outlook is also under the spotlight.
The country’s debt has risen to $50bn, up from around $24bn in 2014, making it the third-largest sovereign debt in the world behind Argentina and Venezuela.
The IMF has warned that Argentina is in an irreversible downward spiral.
“If you don’t have any debt, you can’t survive in this country,” says economist and former Argentine vice-president Jose Maria Sánchez.
“That’s what Argentina has become.
The government is in complete chaos.
If you are a businessman, you’re afraid to invest because of the risk of default.”
The country has been struggling with the economic fallout from the global financial crisis, and is now facing a serious recession, which is expected in the first half of 2019.
“We’re going to go through a recession.
There will be more unemployment,” says Mr Valla.
“A lot of people are going to lose their jobs.
We have to find new jobs.”
The next elections are scheduled for May, and analysts are expecting the economy to contract by 1.5 per cent in 2019, down from 3.4 per cent a year ago.
The economy has also suffered a string of high-profile scandals involving powerful businesspeople and powerful business interests, with Mr Macarri himself once facing corruption charges.
The latest revelations came after the government sacked several high-ranking business executives in an attempt to cover up the affair.