UPDATE 1-Argentine libertarian Milei takes presidency with economic crisis in focus

Argentina libertarian economist Javier Milei was sworn in as president on Sunday in a sharp swerve for the South American country as it seeks a radical fix for the worst economic crisis in decades and inflation rapidly heading towards 200%. Milei, 53, a former TV pundit who shot to fame with expletive-ridden tirades against rivals, China, and the pope, took the presidential sash from outgoing Peronist Alberto Fernandez in a packed Congress with crowds gathered outside. The wild-haired outsider marks a major gamble for Argentina: his shock therapy economic plan of sharp spending cuts has gone down well with investors and could stabilize the embattled economy, but it risks pushing more people into hardship with over two-fifths already in poverty.