Fernandez was widely tipped to run for president later this year, but she has instead positioned herself as deputy. Former cabinet chief Alberto Fernandez, a more moderate candidate, will take the top ticket.
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Argentina's former president, Cristina Fernandez de Kirchner, surprised voters on Saturday by announcing that she was running for vice president instead of the top job.
Fernandez had been widely tipped to run a populist campaign against President Mauricio Macri in presidential elections in October. But she will instead be running as a deputy to former cabinet chief Alberto Fernandez, a more moderate candidate.
"The situation of the people and the country is dramatic, and I'm convinced this arrangement we're proposing best reflects what is needed in Argentina at this time," Fernandez said in a video on her official Twitter account.
"I have asked Alberto Fernandez to lead a team that includes both of us, him as the presidential candidate and me as candidate for the vice position."
Presidential hopeful Alberto Fernandez said he wanted to "restore dignity to millions of Argentines that this government has plunged into marginality and poverty."
Corruption, bribery or power abuse: DW takes a look back at some prominent world leaders who have been convicted in the past five years.
Image: picture-alliance/AP Photo/E. Peres
Luiz Inacio Lula da Silva, Brazil
Lula has been found guilty of corruption and money laundering for his involvement in the "Car Wash" scandal, an extensive corruption probe that uncovered widespread bribery among Brazil's elites. Lula, who held the presidential office between 2003 and 2010, was sentenced to 12 years in jail. He still has a chance to appeal the ruling.
Image: picture-alliance/AP Photo/E. Peres
Cristina Fernandez, Argentina
Cristina Fernandez, who served as Argentina's first lady and then as its president from 2007 to 2015, was indicted on corruption charges in 2016. She was accused of granting public construction contracts to favored companies. She denies any wrongdoing. Fernandez is now seeking a political comeback, which some observers say is a bid to seek immunity against the charges.
Image: picture-alliance/dpa/L. La Valle
Park Geun-hye, South Korea
Following months of public outcry over a wave of corruption allegations, South Korea's first female president Park Geun-hye was removed from office. She has been charged with extortion, bribery and abuse of power. Park was impeached in December 2016.
Image: Getty Images/A.Young-Joon
Ehud Olmert, Israel
The 71-year-old Olmert, who was premier between 2006 and 2009, was convicted of corruption in 2014. He entered prison in February 2016 but was was released in early July 2017 after his sentence was shortened. He was the first former prime minister of Israel to go to prison. Benjamin Netanyahu was his successor.
Image: Reuters/O. Zwigenberg
Adrian Nastase, Romania
Adrian Nastase was convicted of corruption charges in 2012 and sentenced to a two-year imprisonment term. At the time when the sentence was pronounced, he was the only head of government sentenced to prison in the 23 years following the Romanian Revolution. He was Romania's prime minister from 2004-2006.
Image: Getty Images/AFP/
Charles G. Taylor, Liberia
Charles G. Taylor was sentenced to 50 years in prison in 2012 for his role in atrocities committed in Sierra Leone during its civil war in the 1990s. Taylor was the first former head of state convicted by an international tribunal since the Nuremberg trials in Germany after World War II. He was Liberia's president from 1997-2003.
Image: Getty Images/AFP/K. van Weel
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Corruption allegations
Polls had shown Fernandez could defeat Macri, who has overseen painful market reforms, in a second round of voting. But with her relegated to deputy, it is unclear what her party's prospects are.
Complicating her bid is an upcoming Supreme Court case in which she is accused of corruption. She allegedly took bribes in exchange for public work contracts. She has denied these claims and said lower courts did not allow her to present more witnesses.
Fernandez is also facing separate cases of alleged bribery, money laundering and criminal association during her administration and that of former president Nestor Kirchner, Cristina Fernandez's late husband.