Ecuador's Correa quips he almost 'brings down' new Argentine leader

As indication of a serious and increasingly personal dispute, the outgoing president Cristina Fernandez had disagreed with the arrangements for the handover of power, saying it was a waste of time for Macri to take the oath of office at Congress and then travel to the Casa Rosada presidential palace to receive the presidential sash and scepter.

Mr Macri, 56, told Congress: "As president I want to be a citizen who can communicate with all Argentines". Argentina has the potential to be both a regional and global energy leader, but after 12 years of Kirchnerismo, Macri has a long road ahead.

Argentina's President Mauricio Macri has kicked off talks with several Wall Street banks for $5 billion to $10 billion of loans in a bid to shore up central bank reserves, according to two people with knowledge of the matter.

Macri said his government will have "zero tolerance" for corruption and will continue to support the country's "independent justice" system. I will always be honest with you.

"We have enormous challenges that we are not going to solve overnight, but with small daily steps", he concluded.

In his first speech as president, the former centre-right mayor of Buenos Aires vowed to make the economy grow, lift all Argentines out of poverty and tackle endemic graft.

Alternately exultant and emotional, Macri, even began dancing on the balcony while Vice President Gabriela Michetti launched into a song.

"Finally, the day of change has come", said Nelly Lopez, a 58-year-old waving Argentine and Venezuelan flags outside of Congress. "This (economic) model is ending, just like it is in Venezuela".

The fifty six-yr-previous ran on promises to usher in an period of extra civil discourse and roll again a lot of the Fernandez administration spending that many economists say has introduced Argentina to the brink of one other monetary disaster.

Macri has promised to end the previous Peronist government's interventionist policies and open up Latin America's third largest economy to spur growth.

Fernandez has not been supportive of Macri.

Kirchner, 62, insisted that the whole thing could be done at Congress - in line with the constitution and the tradition she and Nestor set out, she argued.

President Mauricio Macri succeeds former president Cristina Fernandez of Argentina.

On the surface, the tiff was about inauguration logistics.

The oath of office was administered by incoming Senate speaker Federico Pinedo, who had served as provisional president since midnight after a court ruled Kirchner's term officially ended on Wednesday.