Argentines have elected far-right libertarian outsider, 53-year old Javier Milei, as their new president.

With almost all votes counted, Mr. Milei had won close to 56 percent in the decisive run-off, ahead of his left-wing rival, Sergio Massa, with 44 percent.

The radical newcomer’s victory has been described as “a political earthquake”.

It has been welcomed by like-minded politicians such as US ex-President Donald Trump, who said Mr Milei would “Make Argentina Great Again”.

Brazil’s former leader Jair Bolsonaro said that “hope would shine again in South America”.

Sometimes dubbed “El Loco”, the madman, by his critics, Mr. Milei has promised drastic changes, which include ditching the local currency, the peso, for the dollar and “blowing up” the central bank.