Numerous emerging markets are going to the polls in 2019. We survey some of the key results so far and look ahead to the big votes in the second half of the year.
An illustrated look at the elections that matter in 2019.
Ukraine
Generel election - April
In a television show, ‘Servant of the People’, Volodymyr Zelensky played a schoolteacher who accidentally becomes president. This year he became president for real, winning a huge majority in April’s election on an anti-corruption ticket. Zelensky has sought to reassure sceptical investors by affirming his commitment to reform and refusing populist calls to default on government debt.
Indonesia
General election - April
Joko Widodo beat retired general Prabowo Subianto to win his second term in office as Indonesia’s president, reflecting the popularity of his efforts to tackle corruption, boost growth and reduce poverty. Investors will be hoping for more progress on infrastructure investment and cutting red tape.
India
General election - May
Having won a decisive victory at the Indian election, Narendra Modi’s Bharatiya Janata Party is expected to use its majority to press ahead with policies to drive economic growth, such as liberalising the labour market and infrastructure development. But while investors welcomed the result, Modi’s divisive brand of Hindu nationalism is a lingering concern.
South Africa
General election - May
As expected, the African National Congress (ANC) won the general election, but with a reduced parliamentary majority. President Cyril Ramaphosa will now try to tackle corruption to win back disaffected voters, without alienating powerful elements of the ANC. Reforming land laws and bailing out the troubled state energy provider Eskom are other priorities.
Argentina
General election - October
President Mauricio Macri’s hopes of winning re-election have been damaged by last year’s currency crisis, which stoked inflation and plunged Argentina into recession. He will hope his record in building infrastructure will help him see off populist opposition. Elsewhere in Latin America, Bolivia and Uruguay also hold general elections in October.
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