Argentina’s new President, Javier Milei, has decided that the country will not join the Brics group of nations, a club that includes Brazil, Russia, India, China, and South Africa.
In a letter to the leaders of these countries, Milei mentioned that decisions made by the previous government were reconsidered. Originally, Argentina, along with five other nations, was set to join Brics on January 1. The change in plans follows Milei’s election win in November, where he promised significant changes to the country’s struggling economy.
While he expressed that Argentina shouldn’t fully join Brics, he emphasized a commitment to strengthening ties for trade and investment. Notably, Milei has been critical of China, a major player in the Brics alliance, despite China supporting Argentina’s previous bid for membership.
This shift reflects Argentina’s complex economic challenges, including high inflation and debt, as Milei implements drastic economic measures.
It also suggests a potential reorientation toward closer ties with the United States.
Source: BBC
https://www.bbc.com/news/world-latin-america-67842992