Argentina Dumps Plan To Join BRICS Bloc

Argentina's new President, Javier Milei, has withdrawn the country from its planned entry into the expanding Brazil, Russia, India, China, and South Africa (BRICS) club of nations, as reported by Robert Plummer for BBC News.

The country's change of heart comes after Milei, a populist right-wing outsider, won a surprise election victory in November with radical pledges to overhaul the South American nation's ailing economy. I Photo: Javier Milei

In a letter to the leaders of Brazil, Russia, India, China, and South Africa, Milei said decisions taken by the preceding government had been revised.

The BRICS countries are often seen as a counterweight to the Western-led world. Argentina had been among a much-vaunted new tranche of six countries poised to join the grouping next month.

It would have been admitted to the BRICS club on January 1, 2024, alongside Egypt, Iran, Ethiopia, Saudi Arabia, and the United Arab Emirates (UAE).

Its change of heart comes after Milei, a populist right-wing outsider, won a surprise election victory in November with radical pledges to overhaul the South American nation's ailing economy.

He succeeded left-wing Peronist Alberto Fernández, whose views were more aligned with those of the bloc's existing members. Milei said that although he did not consider it "appropriate" for Argentina to become a full BRICS member, he was still committed to strengthening bilateral ties, particularly to increase trade and investment flows.

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