Mauricio Macri Sworn In As Argentina President

“Macri has a very strong chance of settling this issue, mainly because he has the political will to do so and enjoys the trust of the markets”, said Jimena Blanco, head of Americas with global risk and strategy consultancy Maplecroft.

After taking the oath of office in Congress, Macri made an appeal to the legislative assembly and Argentinians in general for “dialogue, respect and working together”.

Dollars are in high demand from importers and savers seeking a safe-haven currency to protect them from the financial volatility that has buffeted Argentina in recent decades.

He also scored a win with the resignation of central bank chief Alejandro Vanoli, who had questioned Macri’s plans to let the peso float freely, likely leading to a sharp devaluation.

Macri promised to battle corruption and restore the judiciary’s independence which opponents of the Peronist movement say waned during Fernandez’s leadership.

She accused Mr Macri of shouting at her on the phone and said that this was not appropriate as a man speaking to a woman.

The Buenos Aires Herald says Ms Fernandez’s last day showed her “at both her best and her worst” with a “display of petty political mischief” but with “a grip on the popular imagination”.

He has pledged to oversee a shift from the mainly state-controlled economy run by his predecessor.

Thousands of supporters cheered as Macri danced on the Casa Rosada presidential palace balcony, accompanied by his wife and daughter, while Fernandez boycotted the ceremony.

Mauricio Macri waves after being sworn in as new president at the Congress in Buenos Aires, Argentina, Thursday, Dec. 10, 2015.

“I think that we all agree on the need to create jobs”, Macri said.

I will always be honest with you. “And being honest means telling you that the challenges in front of us are enormous”.

Mr. Macri has vowed to cut inflation to a single digit within two years, though advisers are trying to find way to do so without weakening the economy.

But other Argentines were happy at the end of the Kirchner era, with #ChauCristina (ciao, or bye, Cristina) trending on Twitter.

Macri, who was sworn in Thursday, has an opportunity to not only diversify Argentina’s energy outlook beyond hydrocarbons, but to develop the country’s lethargic renewable sector. The power couple sharply increased spending on social welfare programs while raising tariffs in attempts to protect local industries and aligning the country with leftist leaders like late Venezuelan President Hugo Chavez and Bolivian President Evo Morales.

Macri, a conservative businessman and mayor of Buenos Aires, won the presidential election last month by pledging to ease trade and currency controls and give the free market a chance. The loans would be repaid by the monetary authority in a year, said one of the people.

Macri already updated the presidential website with his personal biography, photos, official activities, and other news ahead of the inauguration ceremony.