In his first speech as president, Fernandez urged unity to help pull the country out of an intractable economic crisis and at the same time attend to the needs of the less privileged, Xinhua news agency reported.
Fernandez, 60, takes over from his predecessor Mauricio Macri.
As the third largest economy in Latin America, after Brazil and Mexico, the country is currently influenced by a monetary crisis, which has led to a record loan amounting to nearly 60 billion dollars from the International Monetary Fund (IMF), its largest ever granted.
Fernandez indicated that his government plans to renegotiate the terms of the IMF loan to enable economic recovery.
The incoming government will strive to alleviate the debt burden and resume the development of a productive economy that will allow the country to export and in that way create the capacity to pay, Fernandez said.
--IANS sdr/
