Milay Promises Argentina Shock Therapy for its economy.

Hello and you're listening to the Marketplace Morning Report live from the BBC World Service.

I'm Leanna Byrne and a very good Monday morning to you.

Argentina's new president, Havee-Mille has been sworn in,

promising radical change to pull the nation out of its worst economic crisis in decades.

Adding the country will need shock treatment, but with a looming

recession his small coalition block will need to negotiate with his rivals from

Buenos Aires. Here's the BBC South America correspondent Katie

Watson.

Having Malay was sworn in to huge applause, chance of yes he can and freedom from those who voted for him.

This is a new political path that Argentina's embarking on

as he reflected himself in his speech shortly afterwards.

I started a new era

a new era for Argentina.

Today ends a long and sad history of decadence and decline and we start the journey of rebuilding our

country. There's no going back. Today we bury decades of failure.

Mr Malay has been hugely critical of traditional politics in Argentina.

Just as the Berlin Wall marked the end of a tragic period for the world, he said,

these elections have marked a tipping point for Argentina's history.

But most of Havi Amala's speech was dedicated to the country's economic crisis.

Argentina's facing 150% annual inflation,

and four in 10 Argentinians now live in poverty.

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