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imageBUENOS AIRES: Argentina's conservative president-elect Mauricio Macri promised a "marvelous" new era was starting for the country after he won a runoff election on Sunday.

The former football executive, favored candidate of big businesses and foreign investors, is expected to be Argentina's most economically liberal leader since the 1990s.

"This is a historic day, a change of era which is going to be marvelous," a beaming Macri told cheering supporters after his leftist rival Daniel Scioli conceded defeat.

"We cannot waste time on revenge or score-settling," he said. Shortly afterwards he was swung his hips, dancing Argentine "cumbia" to deafening music.

Macri and Scioli fought a tense battle for votes in a country largely weary after 12 years under leftist leader Cristina Kirchner and her predecessor and late husband Nestor Kirchner.

Breaking with 12 years of leftist rule in Latin America's third-biggest economy, Macri has vowed to ease foreign trade and dollar restrictions.

Celebrating on Sunday, he said it was time "to build an Argentina with zero poverty, defeat drug-trafficking and strengthen democracy" in the country.

Official results gave Macri 51.8 percent of the votes and 48.2 percent for Scioli, with 95 percent of ballots counted.

Copyright AFP (Agence France-Presse), 2015

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