Argentina confirms it will not join Brics alliance in Milei’s latest policy shift

The move comes as Argentina has been left reeling by a deepening economic crisis.

Milei’s predecessor, former centre-left president Alberto Fernandez, endorsed joining the alliance as an opportunity to reach new markets. The Brics currently account for about 40 per cent of the world’s population and more than a quarter of the world’s GDP.

But economic turmoil left many in Argentina eager for change, ushering chainsaw-wielding political outsider Milei into the presidency.

Milei, who defines himself as an “anarcho-capitalist” – a current within liberalism that aspires to eliminate the state – has implemented a series of measures to deregulate the economy, which in recent decades has been marked by strong state interventionism.

In foreign policy, he has proclaimed full alignment with the “free nations of the West,” especially the United States and Israel.

Argentina’s pro-US leader Milei could rock Latin America – and the world

Throughout the campaign for the presidency, Milei also disparaged countries ruled “by communism” and announced that he would not maintain diplomatic relations with them despite growing Chinese investment in South America.

However, in the letter addressed to his counterpart Luiz Inácio Lula da Silva in neighbouring Brazil and the rest of the leaders of full Brics members – China’s Xi Jinping, India’s Narendra Modi, Russia’s Vladimir Putin and South Africa’s Matamela Ramaphosa – Milei proposed to “intensify bilateral ties” and increase “trade and investment flows”.

Milei also expressed his readiness to hold meetings with each of the five leaders.

Темы и теги

Аргентина Политика