Argentina's Jorge Begoglio has been elected new Pope.The 76 year old now takes on a new name Pope Francis I.He was elected after two days and five rounds of voting.The chimney of the Sistine Chapel in Rome emitted white smoke, Wednesday evening signalling that a new Pope had been elected.Before then black smoke had emerged from the chimney indicating the voting had been inconclusive.Thousands of people who besieged the St Peters Basilica burst out in jubilation on seeing the white smoke but they had to wait a while longer for the new pope to be outdoored.The moment finally came. Cardinal Jorge Begoglio, Archbishop of Buenos Aires and the 266th pontiff was finally outdoored to the crowd amid wild cheers from the crowd.Begoglio was voted ahead of Ghana's Peter Cardinal Appiah Turkson who was speculated as one of the favorites for the position.