Argentina's Javier Milei was sworn in as President on Sunday, warning the country to brace for painful austerity measures as he seeks to cut spending and curb triple-digit inflation, all with empty coffers.
The libertarian economist, 53, broke with tradition to address thousands of supporters from the steps of Congress.
They waved flags and chanted “freedom” and “chainsaw”, referring to the tool he carried around while campaigning to symbolise spending cuts.
“There is no money,” said Mr Milei, vowing to put an end to “decades of decadence” by his overspending predecessors who he said left him “the worst inheritance” of any prior government.
“The bottom line is that there is no alternative to austerity and there is no alternative to shock treatment.
“We know that in the short term the situation will worsen. But then we will see the fruits of our efforts.”
Inflation has hit almost 140 per cent year on year and 40 per cent of the population lives in poverty.
Analysts have warned government reserves are deeply in the red, and the heavily indebted country has few credit options.
Mr Milei warned of spending cuts equal to five per cent of gross domestic product in Latin America's third-biggest economy.
After his speech he made his way – partly on foot, partly in a convertible – from the neoclassical Congress building to the Casa Rosada (Pink House) presidential palace, waving to supporters and flanked by his sister Karina, his closest confidante.
Mr Milei 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 days.
Earlier, Mr Milei spoke briefly to Ukraine's President Volodymyr Zelenskyy on the steps of Congress, and the two men shared a warm embrace.
Mr Zelenskyy said on social media he had also held talks with leaders of Ecuador, Paraguay and Uruguay as he sought to shore up support for war-torn Ukraine.
Also attending the ceremony was Hungary's nationalist Prime Minister Viktor Orban – the only EU leader who has maintained close ties to Russia.
“The Right is rising not only in Europe but all around the world,” Mr Orban wrote on social media, sharing a picture of a meeting with his “good friend,” Brazil's far-right ex-president Jair Bolsonaro, who is also in town for the ceremony.
Chile's leftist leader Gabriel Boric and the King of Spain Felipe VI were also attending, alongside representatives from other major nations.
The chainsaw
Mr Milei's inauguration caps a meteoric rise for the former television panellist who entered politics only two years ago.
His rants against the “thieving” establishment fired up voters and drew comparisons to leaders like Mr Bolsonaro and former US president Donald Trump.
With his deliberately dishevelled mop of hair and rock star persona, he would wave a powered-up chainsaw at political rallies, promising to slash public spending and a bloated cabinet.
He vowed to “dynamite” the central bank and replace the ailing peso with the US dollar.
But for Argentines, the future is mired in uncertainty over what exactly their new president plans to do.
With few politicians from his party in Congress the hard reality of politics has set in, and Mr Milei has softened many of his stances and allied with politicians he previously insulted, incorporating some into his cabinet.
Talk of shutting the Central Bank, dollarisation and welfare cuts has dissipated.
“Milei 2.0 will still face an uphill climb, but he appears to have adopted a more pragmatic agenda and sought the advice of more experienced political figures,” said Benjamin Gedan, director of the Argentina Project at the Washington-based Wilson Centre.
The%20specs
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EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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The specs
Engine: 2.0-litre four-cylinder turbo
Power: 268hp at 5,600rpm
Torque: 380Nm at 4,800rpm
Transmission: CVT auto
Fuel consumption: 9.5L/100km
On sale: now
Price: from Dh195,000
Company profile
Name: The Concept
Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal
Based: Abu Dhabi
Founded: 2017
Number of employees: 7
Sector: Aviation and space industry
Funding: $250,000
Future plans: Looking to raise $1 million investment to boost expansion and develop new products
RESULTS
Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO
Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke
Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke
Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO
Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision
Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision
Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO
Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)
Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)
Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision
Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke
Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO
Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision
Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision
The Intruder
Director: Deon Taylor
Starring: Dennis Quaid, Michael Ealy, Meagan Good
One star
Killing of Qassem Suleimani
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
MATCH INFO
Burnley 0
Man City 3
Raheem Sterling 35', 49'
Ferran Torres 65'
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
Company%20profile
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THE%20SWIMMERS
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RESULT
Arsenal 2
Sokratis Papastathopoulos 45 4'
Eddie Ntkeiah 51'
Portsmouth 0
