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U.S. Congress

Argentina's president-elect inherits large economic problems

Argentine President-elect Mauricio Macri on Monday prepared to confront myriad problems in Latin America's third largest economy, including soaring prices and high government spending that are a legacy of outgoing President Cristina Fernandez.

Macri, fresh off his historic election win late Sunday, began laying out how he would achieve some of the promises that helped him put an end to 12 years of "Kirchnerismo," a movement aligned with the poor led by Fernandez and her late husband and predecessor, Nestor Kirchner.

Macri, the outgoing mayor of Buenos Aires who will assume the presidency Dec. 10, said a key task is just spelling out the true nature of problems such...