Even if Mr Fernandez wins outright in October (avoiding a run-off election), he will not be sworn into office until December.
But his words already have the power to move markets and shape the economy.
His claim on August 30th that Argentina was in "virtual default" deepened the market sell-off
(Standard & Poor's, a rating agency, also declared that there had been a temporary, selective default on some of Argentina's obligations).
Creditors will not renegotiate their debts with Mr Macri's lame-duck government,
fearing that Mr Fernandez might force bigger concessions later. The same worry may give pause to the IMF.
Why should it give billions of additional dollars to Argentina,
when its next president accuses it of helping to create a "social catastrophe" of rising prices, unemployment and poverty?
Advisers to Mr Fernandez say his campaign rhetoric should not be taken too seriously.
"Alberto is acting now as a candidate…appealing to the base; he will govern very differently," says one of his inner circle.
His chief economic adviser, Guillermo Nielsen, has published a more moderate ten-point agenda that leaves some room for optimism.
It recognises the need for a budget surplus. And it envisages a "social pact" between the unions
and business to tame inflation by moderating wage-claims and price increases.
A Peronist government under Mr Fernandez may find it easier to bring the unions into line than today's government does.
According to Federico Sturzenegger, the former governor of Argentina's central bank,
Mr Macri's administration has eschewed that kind of dealmaking because it "did not want to sit the 'old-politics players' at the decision table".
The next government may even consider much-needed reforms of labour laws and welfare entitlements,
according to Emmanuel Alvarez Agis, another adviser who served under Nestor Kirchner, Ms Fernandez's late husband and predecessor as president.
另一名顾问Emmanuel Alvarez Agis说如是，他曾在费尔南德斯已故丈夫、前任总统内斯托尔·基什内尔手下任职。
"The future depends on building coalitions, for change, not governing just from one side or the other," he has said.
Mr Nielsen says the next government will negotiate with the IMF, rather than walk away from it.
Having already borrowed almost 80% of the $57bn on offer, Argentina will need new loans from the fund to help it repay the old ones.
Mr Nielsen has also described China as a potential "financial life jacket".
Ms Fernandez, who has remained remarkably quiet during the campaign, is known to covet Chinese investment,
which might be attracted to Argentina's infrastructure, 5G networks and renewable-energy projects.
If that is the extent of Ms Fernandez's influence on the next government, foreign investors will be relieved. And so will some Argentines.
"Many of us could never vote for Cristina and Alberto Fernandez," says a retired woman,
waiting at her bank this week to change pesos into dollars.
"But who can trust any of our politicians after all this?...I trust only my purse."