Javier Milei has been inaugurated as Argentina’s new president – and was flanked by right-wing leaders from around the world

After ‘the madman’ – as he is called by his followers – was sworn in as president on Sunday, he travelled in a convertible to the presidential palace and met with foreign officials.

Volodymyr Zelenskyy was one of many world leaders to meet with Mr Milei, making his first trip to Latin America since Russia invaded Ukraine in February 2022.

Milei handed a menorah to Zelenskyy, who is Jewish, after the two leaders greeted each other outside Casa Rosada in a handoff captured on an Argentinian TV broadcast of the inauguration.

“This is a new beginning for Argentina, and I wish President Milei and the entire Argentinian people to surprise the world with their success,” Mr Zelenskyy said on social media after attending the ceremony.

Mr Zelenskyy and Mr Milei shared a close exchange just before the inaugural address and held a bilateral meeting later in the day.

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Mr Zelenskyy was joined by Hungarian Prime Minister Viktor Orban, former Brazilian leader Jair Bolsonaro, and the head of Spain’s Vox party, Santiago Abascal.

Bertalan Havasi, Mr Orban’s press chief, said the Hungarian and Mr Milei had talks concerning a “more effective fight against international leftist forces”, among other topics.

And Mr Zelenskyy said in a video that he and Mr Orban had a brief talk about Ukraine’s EU membership, which Hungary has opposed.

“It was as frank as possible – and obviously, it was focused on our European affairs,” Mr Zelenskyy said.

In a sign of tensions between the Latin American countries, Brazil’s current president Luiz Inácio Lula da Silva was not present.

Mr Milei called the left-wing leader “obviously” corrupt in an interview, and asserted during his campaign that if he was elected he would not meet with Lula.

The Brazilian leader was reportedly invited regardless by letter, but Lula dispatched his foreign minister to attend Mr Milei’s inauguration.

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‘There is no money’

After winning the election run-off by 56%, Mr Milei gave a downbeat speech at his inauguration, warning of short-term economic hardship.

“There is no alternative to a shock adjustment,” the president said after taking the baton and sash at yesterday’s ceremony. “There is no money.”

He added that “the challenge we have ahead is titanic,” having previously said he will cut state spending and attempt to overturn a deep deficit.

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Argentina is grappling with annual inflation of higher than 140% and a 40% poverty rate. The country owes $45bn to the International Monetary Fund.

Luis Caputo, Mr Milei’s minister of ecomomy, will lay out Argentina’s economic measures on Tuesday.

Presidential spokesman Manuel Adorni said: “Argentina is in a state of emergency. Inflation is the central issue worrying people.”

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