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Alberto Fernandez wins Argentine Presidential elections

Alberto Fernandez of The Peronist Justicialist Party has swept to a first-round triumph in Argentina’s presidential election. His win brought an end to the crisis-plagued rule of market-friendly incumbent Mauricio Macri.

The 60-year-old law professor had nearly 48% of the votes – crossing the threshold for outright victory – after 94% of the votes had been counted, with center-right incumbent Mr. Macri trailing at 40.53%.To win outright, Mr. Fernandez required 45% or 40% with a 10 point margin over his nearest rival. His win also caps a remarkable political comeback for his running mate, ex-president Cristina Kirchner, who will be his vice-president.

Mr.Macri said he concedes to people’s decision and pledged to  “a healthy and constructive opposition.”

“It’s a great day for Argentina,” a smiling Mr. Fernandez told reporters after exit polls and his own party’s tallies had given him victory. He vowed to pull Argentina from the economic recession with a revamp of policies.

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