Editor's Note: Argentina holds its first, and possibly only, round of presidential elections on Oct. 27. This assessment, originally published Sept. 16, explains the economic problems that the victor will face. In the primary presidential vote on Aug. 11, populist candidate Alberto Fernandez handily defeated the country's conservative president, Mauricio Macri. For months, opinion polls had given Macri a fair chance of winning the Oct. 27 presidential ballot, and Fernandez's victory caught financial markets largely off guard, deepening the country's economic tailspin. Instead of using the upset to fight even harder to secure reelection, Macri will spend the next few weeks trying to prevent the country's financial situation from deteriorating further.