Opposition Candidate Wins Presidential Election in Argentina

Reports from the initial results of the second round of the presidential election in Argentina indicate that Mauricio Macri, the conservative opposition candidate, has won the election. According to Reuters, Mauricio Macri, the mayor of Buenos Aires, has managed to surpass his rival, Daniel Scioli, by a margin of five to eight percent of the votes. The report states that Mauricio Macri was not ahead of his rival in any of the pre-election polls leading up to the second round. Reports indicate that Mauricio Macri promised to reduce government intervention in the economy during his campaign. Mr. Macri will take office after 12 years of leftist government in Argentina. Cristina Fernández, the current president of Argentina, who was legally barred from running for a third term, supported Daniel Scioli. According to Reuters, as Cristina Fernández's presidency comes to an end, many criticized her administration's interventionist and supportive policies. Daniel Scioli had secured over 36 percent of the votes in the first round of the presidential election held in October, while Mauricio Macri received over 34 percent. The International Monetary Fund states that Argentina, which is the third-largest economy in Latin America after Mexico and Brazil, will experience negative economic growth next year.