Mauricio Macri has been officially inducted as Argentina's president. Macri ushers in a new era of change for Argentina, whose economy has remained stagnant for quite some time.

BBC reported that, while Macri's inauguration was met with merriment by his supporters, the event was boycotted by his predecessor, Cristina Fernandez de Kirchner, in a heated argument over the venue. Macri had accused the outgoing president of trying to "sabotage" his government. 

Kirchner also accused Macri of "shouting at her" over the phone. During her last days of office, Kirchner has kept herself busy by making changes to next year's budget, as well as other changes to the current office, which could potentially hurt Macri's administration. 

In his inaugural speech, Macri vowed to battle Argentina's biggest problems as a country, which include corruption, poverty, and drug trafficking. The former mayor of Buenos Aires also promised "team work," and vowed to put an end to confrontation in politics.

"Politics for me is not a competition to see who's got the bigger ego. It's working together for the good of the people." Macri said.

Former president, Cristina Kirchner, bid her supporters farewell on Wednesday. In an emotional speech, she urged her supporters to take their protests to the streets to announce the betrayal of the new centre-right government.

Macri won the presidential bid in November's election run-off, beating Kirchner's favorite, Daniel Scioli, who is also a member of the Socialist party.

Macri was a favorite among the people who want to see a new Argentina. Macri vowed to bring about this change by incorporating it into his campaign, "Let's Change!" His victory in the recent election was a political upset that Argentina has not seen in recent years. 

The charismatic Macri's victory spells a new era for change for the country. Macri has promised to unite all Argentines and take the country to the rest of the world. He plans to make the Argentine market into something that is free market-oriented. He also plans to ease trade and currency controls, reports The Wall Street Journal.

Macri has also promised to better the country's relations with the United States.

"We've got to take confrontation out of the centre of politics. With fighting no-one wins, with dialogue, everyone wins. A new time is coming, a time of dialogue, a time of teamwork." Macri said in a speech with Congress.