Updated December 30th, 2023 at 15:03 IST
Javier Milei pulls Argentina out of plans to join BRICS, writes a letter to member nations
In a dramatic foreign policy shift, Argentina has formally announced that it will not join the BRICS bloc. Argentina’s new president wrote a letter to the body.
- World News
- 2 min read
Buenos Aries: In a dramatic foreign policy shift, Argentina has formally announced that it will not join the BRICS bloc. The decision was confirmed by Argentina's new far-right populist president, Javier Milei. In a letter addressing the leaders of Brazil, Russia, India, China and South Africa along with all leaders of the alliance, Milei noted that currently it is not a “right moment” for Argentina to join as a full member, The Guardian reported. While the letter was dated December 22, it was released by the Argentinian government on Friday, which is the last working day for the government in 2023.
The Latin American nation was among six countries which was invited to join the bloc as a permanent member, back in August. The growing international bloc was expected to become an 11-nation group on 1 January 2024. The move comes as Argentina struggles with a grave economic crisis. Right before Milei was elected as the president, the populist leader pledged to “dollarize” the country's economy. However, BRICS has time and again expressed their intention to de-dollarize International trade.
Milei's love with the West
Milei's predecessor, the former Argentinian President Alberto Fernández endorsed the idea of the Latin American nation to join the group. Fernández reasoned that joining the international body would help the country in reaching new markets. The former president also stressed the fact that BRICS currently accounts for over a quarter of the world's GDP making it one of the most crucial international bodies.
While campaigning, Milei defined himself as an “anarcho-capitalist” – a current within liberalism that focuses on eliminating the state. Not only this, the Argentine president has also expressed full alignment with the “free nations of the West” – especially the United States and Israel. However, in the letter, Milei proposed to the BRICS counterpart that the member nation can focus on “intensifying bilateral ties” with Argentina and increase “trade and investment flows”.
Published December 30th, 2023 at 08:14 IST