Argentina opposition candidate Mauricio Macri wins presidential race

Argentina’s conservative opposition leader Mauricio Macri has defeated ruling party candidate Daniel Scioli in the presidential election, pledging a “marvelous” new era for the Latin American country.

Ending 12 years of leftist rule in Argentina, Macri won 52.1 percent of votes and left Scioli defeated with 47.9 percent on Sunday, Argentina’s election body said.

“This is the beginning of a new era that has to carry us toward the opportunities we need to grow and progress,” Macri said.

Macri also pledged “good relations with all countries,” including the United States.

“We cannot waste time on revenge or score-settling,” he said.

He has proposed easing restrictions on imports and dollar transactions and liberalizing the economy.

Macri, the son of one of Argentina’s richest men, was favored by investors, and the country’s asset prices were expected to rise on Monday, according to market analysts.

His victory put an end to a political era dominated by former President Christina Kirchner and her late husband Nestor Kirchner.

The president-elect will take office on December 10.