Conservative Macri wins Argentina's presidential election
Nov 23, Buenos Aires: Opposition candidate Mauricio Macri has won Argentina's presidential elections after 12 years of leftist rule. Macri defeated Christina Kirchner in runoff vote.
Argentina's election body said that Macri had 53 percent of votes and Scioli had 47 percent with returns in from three-quarters of polling stations.
Macri promised that a "marvelous" new era was starting for the country after he won the runoff vote on Sunday.
"This is a historic day, a change of era which is going to be marvelous," the pro-market leader told cheering supporters after ruling party candidate Daniel Scioli conceded defeat.
Neither candidate achieved the 45 percent of votes needed to avoid a runoff in the first round of the election held in October.
The country is facing inflation and is involved in a legal battle against two American hedge funds that reject its plans to restructure the $100bn in debt it defaulted on in 2001.
The firms, which Kirchner condemns as "vulture funds", successfully sued for full payment in US federal court. Kirchner's refusal to pay them pushed Argentina into a new default last year, Al Jazeera reported.
The Oslo Times