the chamber of deputies and a third of its upper house the senate prior the election frenze de todos the coalition led by fernandez had a majority of NUMBER_TOKEN of the NUMBER_TOKEN seats in the senate but a minority of NUMBER_TOKEN of the NUMBER_TOKEN seats in the chamber of deputies meaning that they still needed the support of minor parties to pass legislation the midterms made things a fair bit worse for the perinis though as they lost a handful of senate seats meaning that they've now got a slight minority in the senate too and this marks the first time in NUMBER_TOKEN years the peronists have failed to hold a majority in the senate you get the point then it's pretty bad news for the incumbent perinis and it's possible that electoral blowback for economic mismanagement may finally force peronis and argentine politicians more generally to take their economic duties more seriously but this is in no way guaranteed argentina has been an economic chaos for most of its modern history and argentine politicians peronists or not have historically favored economically illiterate but immediately popular policies these have typically required lots of inflation-fuelling money spending which is why inflation has stayed so reliably above NUMBER_TOKEN for the last NUMBER_TOKEN years for context the uk is currently freaking out about the prospect of four percent inflation so you can see that argentina's economy has basically followed a pattern of extreme boom and bust oscillating manically between periods of impressive growth and steep recession since NUMBER_TOKEN argentina has posted negative annual gdp growth a staggering NUMBER_TOKEN times which basically means that in NUMBER_TOKEN out of the last NUMBER_TOKEN years argentina's economy has been in recession for context the uk has been in recession for just eight of those years and chile argentina's neighbor for just NUMBER_TOKEN. and in the same period argentina has required a staggering NUMBER_TOKEN imf loans second only to pakistan with NUMBER_TOKEN including a massive NUMBER_TOKEN billion loan in NUMBER_TOKEN the imf's largest loan ever the point is that argentina's economy has been struggling for nearly NUMBER_TOKEN years which is why solving their current economic woes will require some very tough decisions which so far argentine politicians have been too reluctant to make anyway what do you think will the results of these elections force the perineus to confront argentina's economic woes or will they just carry on doing what they've always done comment your thoughts down below also down below you'll find links to all of our other channels as well as the bulgarian election video i mentioned earlier so subscribe to this channel and the others for updates on topics like this and hit the bell to be notified every time we post especially thanks to our patreon backers who make videos like this one possible and if you want to see your name at the end of videos then you too can back us on patreon the link to that is in the description
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