Pinera takes over from socialist Michelle Bachelet who capped a second term in office. He has vowed to fight economic “stagnation” from years of center-left rule. Conservative billionaire Sebastian Pinera was sworn in as Chile’s president on Sunday for the second time in eight years. “The state must be austere and efficient in the use of public resources… and must never be captured by bureaucracy, corruption or political operators,” Pinera said. Leaders from neighboring Latin American countries, including Argentina, Bolivia, Mexico and Peru attended the inauguration ceremony in the coastal city of Valparaiso.

Source: Egypt Independent March 12, 2018 04:41 UTC