An abolished central bank, dollarization of the local currency, and the legal sale of human organs may be expected in Argentina.

According to preliminary figures, it will be the controversial ultra-liberal Javier Milei who wins the election in Argentina and becomes the country's next president, reports the BBC.

With 87 percent of the votes counted, Milei has 56 percent of the vote and his challenger, centrist politician and current finance minister Sergio Massa, 44 percent.

Sergio Massa has already conceded defeat during the night, Reuters reports.

"Obviously, the results are not what we expected. I have contacted Javier Milei to congratulate him," Massa said in a speech.

Compared to Trump

Javier Milei has previously been frequently compared to America's Donald Trump. He calls himself an "anarcho-capitalist", claims that global warming is a lie, and wants to solve poverty in the country by allowing the sale of human organs.

The strong support for Milei is above all a reaction to several years of economic decay, says Latin America expert Andrés Rivarola.

He wants to close down the Argentine central bank and instead use the dollar as the country's official currency.