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| https://www.theguardian.com/ |
Argentina, led by the new far-right populist president Javier Milei,
has formally announced its decision not to join the Brics bloc of developing
economies. The move marks a significant shift in Argentina's foreign and
economic policy. In a letter addressed to the leaders of Brazil, Russia,
India, China, and South Africa, Milei cited the current moment as "not
opportune" for Argentina to become a full member. The letter, dated December
22, was released by the Argentinian government on the last working day of
2023.
Argentina was initially among six countries invited to join the Brics bloc
in August, set to become a member on January 1, 2024. The decision comes
amid a deepening economic crisis in Argentina. Milei's predecessor, Alberto
Fernández, had endorsed joining the alliance as an opportunity to access new
markets. The Brics nations collectively represent approximately 40% of the
world's population and over a quarter of the global GDP.
Javier Milei, who identifies as an "anarcho-capitalist," has implemented
measures to deregulate the economy, departing from the strong state
interventionism of previous decades. In foreign policy, he aligns with the
"free nations of the west," particularly the United States and Israel.
Despite the withdrawal from Brics, Milei proposed in his letter to intensify
bilateral ties and increase trade and investment flows with the full Brics
members. He also expressed readiness to hold meetings with the leaders of
China, India, Russia, South Africa, and Brazil.