This article is more than 4 years old

This article is more than 4 years old

After 12 years of leftist government, Argentina shifted towards the centre-right on Sunday by giving a presidential victory to Buenos Aires mayor Mauricio Macri of the Cambiemos (Let’s Change) party.



Argentina election: second round vote could spell end for 'Kirchnerism' Read more

With 98.87% of the vote counted, the former chief executive of the Boca Juniors football club was on 51.44%, nearly three points ahead of his rival Daniel Scioli of the Peronist Victory Front who was on 48.56%.

The result is likely to reverberate across Latin America.



In his victory speech, the winner promised to boost the economy, tackle narco-trafficking and defend democracy.

“This is a historic day,” said Macri, who will next month replace Christina Fernández de Kircher in the Casa Rosada presidential palace. “What emotion, what happiness, what hope.”

Facebook Twitter Pinterest Supporters of Mauricio Macri celebrate in Buenos Aires on Sunday. Photograph: Eitan Abramovich/AFP/Getty Images

Thousands of campaigners cheered and danced in the Macri campaign bunker as the results came in. Outside, supporters banged drums and honked car horns in jubilation.

The scenes were unthinkable just two months ago, when Scioli was so far ahead that many pundits predicted he would win in the first round. But Macri – a wealthy businessman from a family of Italian migrants – successfully presented himself as the candidate of change at a time when many voters are concerned about inflation, slowing growth and crime.

“Winning feels great, but so does recognition,” said Hernan Iglesias, a speech writer for Macri. “We were underdogs for a long time. So this feels like a political upset.”



“I’m very happy we have recovered hope,” said Jackie Fox, a psychological counsellor who was among the supporters in the bunker, “It’s the beginning of a new era. This is the end of corruption. We have someone who doesn’t need to become richer than he already is.”



The consequences of change could be enormous. Macri has promised to strengthen institutions, introduce more pro-business policies, cut deals with foreign creditors and realign Argentina’s foreign policy away from Venezuela and Iran and closer to the US. He has also indicated that he will adopt a less confrontational stance over the Falkland Islands.



Facebook Twitter Pinterest Argentina’s ruling party presidential candidate Daniel Scioli, right, after he acknowledged his defeat on Sunday. Photograph: Alejandro Pagni/AFP/Getty Images

For his opponents, this was a dark day. The loss is the most significant defeat for a leftist candidate in South America for more than 10 years.



Critics fear Macri plans a return to the neo-liberal policies of the now almost universally reviled former president Carlos Menem in the 1990s, when state utilities were privatised and huge numbers of state employees were laid off as part of a free market programme that ended with economic collapse in 2002.



During the campaign, Scioli – who was handpicked by the outgoing president – criticised his rival as a representative of “savage capitalism” and warned that social benefits would be cut if the Casa Rosada changes hands.



Since 2003, it has been the home of the Kirchners. Elected during a “pink tide” of leftist administrations in Latin America, Nestor Kirchner initially made impressive gains, securing deals with most of Argentina’s creditors, reducing inequality, boosting employment and supporting closer regional integration.



Facebook Twitter Pinterest Mauricio Macri, left, kisses his wife Juliana Awada after winning a runoff presidential election in Buenos Aires on Sunday. Photograph: Ricardo Mazalan/AP

However, since his death in 2010, Argentina’s economy has lost momentum, inflation has surged to around 30% and poverty appears to be creeping back. Fernández has also fought a series of bruising battles with the country’s biggest media group, Clarin.



The 32 million eligible voters had to weigh up whether Scioli or Macri could improve the situation.



“We need a change,” said Luciana Esteruelas, a hotel employee who voted against the ruling camp. “Cristina did some good things in the beginning. But there have been more problems in the last few years. It’s time to give someone else a chance.”