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Argentina's Fernandez Presents New Party, Eyes Senate Seat

Wall posters reading "For Us, It's Her" in reference to former Argentine president Cristina Fernandez, in downtown Buenos Aires, Argentina, June 14, 2017. Fernandez on Wednesday announced the formation of a new party ahead of mid-term elections in October.

Former Argentine president Cristina Fernandez on Wednesday announced a new political party as she eyes a bid for a Senate seat in October's mid-term election.

Rather than affiliating for the election with Peronism, the country's dominant political movement, Fernandez and allies unveiled the "Citizen's Unity" party, which aims to fight "the reinstatement of the neo-liberal model" under President Mauricio Macri.

By further polarizing the opposition, however, the populist Fernandez increases the chances of Macri's "Cambiemos" coalition making a strong showing in October's legislative election that would enable him to deepen his free-market reforms.

"The good news for the government is that the opposition is divided," said Ricardo Rouvier, a political analyst.

Fernandez could end up competing against her former transportation minister Florencio Randazzo, who has already announced his candidacy.

She has not formally launched her candidacy and has until June 24 to do so, but two sources close to her told Reuters she intends to run in Argentina's most populous province.