“I pledge to God and country… to fulfill the role of president of the Argentine nation with loyalty and patriotism,” declared Javier Milei. The libertarian economist took the oath of office on Sunday, becoming Argentina’s new president following a decisive election victory driven by public frustration over the economic crisis.
During the swearing-in ceremony, Milei emphasized the urgent need for a fiscal “shock” in his inaugural address. He pointed out that his predecessors had depleted the country’s funds, leading it towards hyperinflation.
Milei, a former TV pundit and political outsider, rode a wave of voter discontent stemming from triple-digit inflation, dwindling foreign currency reserves, and increasing poverty, marking Argentina’s most severe economic downturn in over two decades.
In his speech, Milei stressed the necessity of a fiscal adjustment targeting the state rather than the private sector, asserting, “There is no money.” After taking the oath, outgoing President Alberto Fernandez placed the presidential sash over Milei’s shoulders.