Argentina's President Javier Milei has bemoaned Argentina's economic woes, describing the situation as "regrettable".
This comes as the Argentine leader eyes a takeover of the oil-rich Falklands Islands.
Speaking on Saturday alongisde Security Minister Patricia Bullrich, he warned that Argentina is on the verge of a crisis.
He said: "There is no money. The truth is that they have looted the country.
Javier Milei was elected last month
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"They have left us with a consolidated deficit of 15 points of GDP".
His government has been forced to implement a major fiscal adjustment, equivalent to five per cent of GDP.
Speaking about the changes, he said: "We are confident; the key in our economic program is the savings that the adjustment will generate", adding that he has also implemented a "counter-proposal of investment".
Speaking about the last government, Milei said: "They left the country on the verge of what could be the worst crisis in history".
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But he added: "We cannot govern with a rear-view mirror; we have to look forward."
Milei also said Argentina has "started to win the cultural battle."
During his presidential campaign, Milei claimed that Britain returning the Falkland Islands to Argentina was "non-negotiable", adding that the territory is Argentine.
He called for an agreement similar to the one the UK had with China in Hong Kong, which saw the territory handed over Chinese control after 1997.
Milei, who was elected last month, said: "What do I propose? Argentina's sovereignty over the Malvinas Islands is non-negotiable.
"The Malvinas are Argentine. Now we have to see how we are going to get them back.
"It is clear that the war option is not a solution.
"What we are proposing is to move towards a solution like the one England had with China over the Hong Kong issue and that in this context the position of the people who live on the islands cannot be ignored.
"You cannot deny that those people are there. You cannot disregard those human beings.
"You have to negotiate with Britain and consider the views of the people who live on the islands.
"We are looking for a solution for the Malvinas Islands to return to Argentina through diplomacy, a solution that is viable, that is achievable."
In his victory speech, Milei promised that the "reconstruction of Argentina begins today".
But hitting back, Rishi Sunak's spokesperson ruled out any movement on the issue.
They said: "It's obviously a settled issue, a long-settled issue, and we have no plans to revisit it."
Pressed on the suggestion of an agreement similar to that reached over Hong Kong, the official added: "The position of the Falkland Islands was settled some time ago and will not be changed."
A 2013 referendum in the oil-rich Falklands saw 99.8 per cent of people vote to remain part of the UK.