Duhalde, New President of Argentina

Senator Eduardo Duhalde, a senior Peronist was appointed as the new president of Argentina in both Congresses with overwhelming support on 1st. In his inauguration speech, the fifth president Duhalde, after two week`s interim president, clarified his will to continue the policy of suspending payments on $132 billion foreign debt, requesting for the international understanding and assistance saying, "we have not a penny to pay salary, pension, or bonus."

President Duhalde strongly suggested to give up the one-to-one peg of the peso to the dollar, which had caused economic crisis, saying, "this system deprived us of everything." And he didn`t mention anything about the former president Adolfo Rodriguez Saa`s plan to introduce a new currency `Argentino` implying no intention to continue.

He promised security measures for bank deposits and the formation of non-partisan cabinet within this week.

President Duhalde will serve out the term of the former president Fernando de la Rua, who was stepped down on 21st last month by the civil riot, till December 31st 2003.

Eun-Taek Hong euntack@donga.com