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Argentina’s new president promises ‘light at end of tunnel’ after months of hardships

Javier Milei described the current situation in the country as "critical," saying that it is an "emergency situation"

BUENOS AIRES, December 10. /TASS/. Argentina’s new President Javier Milei has promised that the situation in the country will finally improve after months of hardships.

"There will be light at the end of the tunnel," he said in his first speech after the inauguration. He also promised that his office term will be the beginning of a "new era" in Argentina’s history.

He described the current situation in the country as "critical," saying that it is an "emergency situation." "Gradual reforms require financing. But, regrettably, I must say once again that we have no money," he said. During his election campaign, he repeatedly stressed that Argentina should refuse from many infrastructure projects that are being funded from the budget and reduce its spending.

According to Milei, shock measures are inevitable and they will tell adversely on "the economic activities, employment, wages, the poverty level." He warned about risks of hyperinflation and place the blame for it on the previous government.

Being a libertarian politician, Milei stands for dissolving the Central Bank as an anti-inflation measure and promises to privatize government-run companies. Apart from that, he doesn’t exclude the use of US dollars.

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