Milei sworn in as Argentina's president promising drastic economic reforms

Far-right outsider Javier Milei was sworn in Sunday as Argentina’s president, as the country steels itself for harsh spending cuts and economic reforms aimed at curbing rampant inflation.

The 53-year-old libertarian economist has vowed there will be no “half-measures” as he tackles decades of overspending, debt and convoluted currency controls in Latin America’s’ third-biggest economy.

“I swear to God and country to carry out with loyalty and patriotism the position of president of the Argentine nation,” he said as he took the oath of office. Thousands of supporters lined the streets outside Congress, waving the country’s blue-and-white flag.

“We will be able to work and strive to fulfill our dreams without the burden of suffocating taxes, inflation and the strain of a currency system that is crippling our nation” he added.

After taking the oath of office, Milei will give his first speech as president from the steps of Congress. He will later swear in a cabinet of nine ministers – a major slimdown from the current 18. He has said his first set of measures will be presented to Congress in a matter of days.