Left-leaning candidate Alberto Fernandez has emerged victorious in Argentina’s presidential elections. Fernandez would replace the pro market incumbent Mauricio Macri whose rule witnessed economic instability. Fernandez is a 60-year-old law professor he secured got 47.36 percent votes surpassing the mark required for an outright victory.
The election results also saw the remarkable comeback for ex-president Cristina Kirchner, who is set to be the vice-president.
President Macri has conceded defeat and invited Fernandez for breakfast to start the transition process. Argentina’s economy has been plagued by debt crunch, raising fears of a possible default on an IMF loan of USD 57 million.