Ultraliberal economist and populist Javier Milei was sworn in as Argentina’s new president on Sunday. In his first speech as president, he promised “a new era” for the South American country, although he warned that things will get worse first.
53-year-old Milei was elected in November as a political newcomer with 56 percent of the votes. For his swearing-in ceremony, Ukrainian President Volodymyr Zelensky, Spanish King Felipe, Hungarian government leader Vitkor Orban, Uruguayan President Luis Lacalle Pou and Paraguayan President Santiago Peña, among others, traveled to the Argentine capital Buenos Aires.
The new president, Alberto Fernández’s successor, promised a new era for Argentina, which is in a deep economic crisis. Inflation is more than 140 percent, and about 40 percent of the population lives below the poverty line. But in the short term, things will get worse first, Milei warned. “There is no money”, it sounded, so there is no other choice than “a shock”.
The ultra-liberal had previously said that he wants to introduce the US dollar as legal tender and abolish the central bank, just like many ministries.