BREAKING: Javier Milei elected next president of Argentina

Populist libertarian Javier Milei has won the presidential election in Argentina. His opponent, Sergio Massa, has conceded giving Milei the win.

"The results are not what we expected," Massa said. "I have contacted Javier Milei to wish him luck, because he is the President of Argentina for the next four years." Massa was the country's economy minister and that economy has been in dire straits.

Milei was mobbed by supporters ealier on Sunday when he cast a vote in the presidential election. 

He takes the helm of the country as Argentina faces the worst economic crisis in decades, and he's promised to fix it. Milei has stated plans to shrink the size of government, eliminate the central bank, and bring in the US dollar. Argentina currently owes the IMF $44 billion.

Milei, a 53-year-old economist, was also a television pundit. He has criticized parties both on the right and the left. His campaign symbol has been a chainsaw, which he uses to emphasize his plan to cut costs. He favors privatizing some state-run enterprises and making big changes to both health and education.

Inflation in Argentina has hit upwards of 140 percent. Two-fifths of Argentinians currently live in poverty and a recession has been looming. Massa has been blamed for his failure to control or combat rising prices. 

This is a breaking story and will be updated.

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