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(15 May 1995) Eng/Spanish/Nat There have been celebrations across Argentina where President Carlos Menem, whose free market reforms tamed hyperinflation and revived the Argentine economy, has won his bid for a second presidential term. Official returns, based on 80 per cent of the vote, give Menem 49.5 per cent and a 20-point lead over his main rival, Jose Bordon. Menem's victory leaves him with the difficult job of reducing the record unemployment his anti-inflationary policies have caused. It was not just a victory, it was a landslide. He had beaten his closest opponent by 20 per cent, enough of a margin to avoid a second round of voting. The scale of the triumph was already apparent before the evening was over. The opposition were forced to concede defeat. SOUNDBITE (Spanish) I have no regrets, and I feel very proud of the decision we've taken. A new chapter has begun in Argentina's history and I know that we are going to fight for a better Argentina. SUPER CAPTION Senator Jose Bordon, centre-left coalition FREPASO Supporters decided not to wait for the official results. Government supporters thronged Plaza de Mayo square in downtown Buenos Aires until the small hours of the morning to celebrate Menem's victory with fireworks, drums and flags. People were celebrating all over the city. By daylight the landslide was official, and the press could talk of nothing else. With his victory secure, Menem has vowed to tackle the social costs of Argentina's economic turnaround. Since taking office in 1989, Menem has vanquished hyperinflation and his free market policies have fueled unprecedented growth, turning Argentina into one of the world's leading emerging markets. But unemployment has soared to a record 12.2 per cent and analysts say it could exceed 14 per cent when new figures are released next month. Menem's pledge to maintain a balanced budget should keep the markets happy, but charges of government corruption and criticism of a 1990 amnesty to the oppressors of the 1970's still persist. VOX-POP SOUNDBITE: I think that people gave a lot of importance to the economic stability that Menen achieved, and not so much to other problems, for instance corruption, which is more or less generally accepted that this government is corrupt." With inflation under control, the markets are unlikely to turn on the government and this will make other economic targets attainable. Menem has pledged to create 1.5 (m) million new jobs by the end of the century. But with unemployment at a record 14 per cent, if the president fails to deliver the people are unlikely to afford him the same luxury. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: / ap_archive Facebook: / aparchives Instagram: / apnews You can license this story through AP Archive: http://www.aparchive.com/metadata/you...