Milei Sworn In as Argentina's President, Vows Deep Cuts to Tackle Crises Despite Likely Backlash
• Argentina's new president, Javier Milei, gave his inaugural speech on Sunday, warning of imminent economic pain
• The "dollar-loving libertarian" said aggressive fiscal cuts are unavoidable due to lack of funds ("There is no money")
• Milei aims to rein in 143% inflation and pull economy out of its 6th recession in 10 years
• He pledged to make "chainsaw" cuts equal to 5% of GDP, likely targeting state over private sector
• After campaigning to scrap the peso for the US dollar, Milei recently showed signs of pragmatism on that promise