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Argentina has a new president. His
is Javier Milei. He was a
winner of the country's election in November. Mr Milei has promised to turn around Argentina's
economy. In particular, he said he would cut
, which is currently around 140 per cent. He also wants to slash the
debt. Argentina has borrowed a lot of money in the past few
. Mr Milei wants to start repaying it. In his first
as president, he said the economy needed "shock treatment" to recover. He said
governments had spent too much and that "there is no money left". He warned Argentinians that life would be
for a few years. He said people would have to live in "
" to help the economy.
