A large crowd gathered in Buenos Aires to hear Argentina’s President, Cristina Fernandez de Kirchner, bid farewell as she bows out of office.
In a rather emotional speech, she defended her record and urged the people to take to the streets if they feel betrayed by the new centre-right government.
Conservative Mauricio Macri, who won a run-off election in November, is due to be sworn in as president later.
According to BBC, officials’ figures revealed that Mr Macri inherited a host of economic problems including inflation running at almost 15 per cent but other experts put it much higher at closely 25 per cent.
Argentina has suffered badly from a slump in commodity prices and foreign currency reserves have dropped, making attracting external investment difficult.
The new Argentine leader has promised a new era of change and reconciliation.
It will be the first time since the end of Argentina’s military dictatorship that a president has not attended the inauguration of a successor.
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