Argentina Makes Complete U-Turn, Declines BRICS Invitation

Argentina has turned down the invitation extended to it to join the BRICS Group, suggesting a pivot in foreign policy as a result of the entrance of a new administration championed by Javier Milei. 

Argentina Dissaproves BRICS Plan

According to Diana Mondino, Milei’s pick for Foreign Affairs Minister when he takes office, the South American nation would not be joining the BRICS Group of emerging economies as was initially planned. Mondino spoke to some journalists in Buenos Aires about her doubt on the real value of the bloc. Some of the members of the group are China and Brazil, two key commercial partners of Argentina. 

The Foreign Affairs Minister asked if there was going to be any difference seeing that it already has members of the BRICS bloc as the country’s primary trading partners. 

While the latest development is being hinged on an existing relationship between Argentina and a few BRICS member countries, it is worth noting that Milei who will officially assume office as the President of the nation on December 10, is a core supporter of the United States.

As a libertarian and an admirer of the former president of the United States Donald Trump, he has the vision to align Argentina’s interests with those of the U.S.

This dramatic U-Turn is one of Milei’s drastic policies which also includes plans to take out the Central Bank as reported earlier.

Argentina President Criticizes Brazil and China

As is well-known, member countries of the BRICS Group are pushing to reduce dependence on the US Dollar. 

Much more, they are trying to achieve this feat by pursuing de-dollarization. Argentina’s newly elected president is obviously not in support of this vision and the latest move underscores his stance.

Milei once criticized China while also threatening to sever its diplomatic ties with the country on the premise that he was not interested in doing business with “any communist.” Brazil’s government led by Luiz Inácio Lula da Silva was equally lambasted by the newly elected Argentine president for his cozying up to China.

Argentina is one of the six countries that was invited to join the bloc during the last BRICS Summit held in Johannesburg, South Africa. Their addition would have made the BRICS Group an 11-nation bloc but with Argentina’s refusal to join, this may no longer happen as expected.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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