Argentina swears in new president, has old economic woes

BUENOS AIRES, Argentina -- Adolfo Rodriguez Saa, a populist provincial governor, was sworn in as Argentina's interim president Sunday, saying he will suspend payment of a crushing foreign debt and risking the biggest sovereign default in history.

The announcement by the 54-year-old leader, who was sworn in days after deadly riots drove predecessor Fernando de la Rua from power, prompted a rousing ovation from Congress. Minutes earlier, it had voted 169-38 to appoint him as caretaker president following a night-long debate and wrangling.

Rushing to fill the term vacated last week by de la Rua during a popular rebellion, Rodriguez Saa is to rule pending the results of a special election on March 3.

"We are going to talk about the foreign debt," Rodriguez Saa said in his inaugural address. "The Argentine state will suspend the payment of the foreign debt."

"All the resources allocated in the budget to pay the foreign debt will be dedicated instead to create jobs while debt payment remains suspended," Rodriguez Saa added.