Economy

Argentina rejects invitation to join BRICS

Dec, 29, 2023 Posted by Gabriel Malheiros

Week 202347

In a letter sent to Brazil, Argentine President Javier Milei expressed his intention to decline entry into the BRICS group.

In the document obtained by GloboNews, Milei stated that he does not see joining the bloc of emerging economies, which already includes Brazil, Russia, India, China, and South Africa, as “opportune.” In August of this year, Argentina, along with five other countries, was invited to join BRICS.

If Argentina were to accept the invitation, formal accession to BRICS would occur from January 1, 2024.

“Some decisions made by the previous administration (of former President Alberto Fernández) will be reviewed. Among them is the creation of a specialized unit for the active participation of the country (Argentina) in BRICS,” wrote Milei.

The letter arrived in Brasília on December 22 and was also sent to leaders of the other BRICS member countries.

Sources in the Brazilian government, as reported by GloboNews, stated that Buenos Aires’ stance was received with “zero surprise” in Brasília. In November, Argentina’s Foreign Minister, Diana Mondino, had already indicated that her country would not join the bloc.

In August, when still a presidential candidate in Argentina, Milei stated his opposition to Argentina joining BRICS because “our geopolitical alignment is with the United States and Israel. We will not align ourselves with communists.”

BRICS Expansion

During the latest BRICS summit in August 2023, the group members decided to expand the bloc, a topic under discussion.

The group formally invited six countries to become new members, according to South African President Cyril Ramaphosa: Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, and the United Arab Emirates.

The debate on expanding the BRICS bloc was at the top of the agenda during the meetings in Johannesburg.

The six invited countries will have to meet certain conditions to participate in the group starting January 1, 2024.

Internal Crisis

Milei’s rejection comes at a time when the Argentine president is struggling to pass two reform packages he recently announced.

Combined, the two packages – the Decree of Necessity and Urgency and the “Omnibus Law” – comprise more than a thousand articles, including one that dismisses more than 5,000 public employees and grants more powers to the president by declaring a state of emergency in various areas of the country.

However, the Argentine president faces resistance in the legislature, where his party is in the minority – with only 37 of the 257 deputies and seven of the 72 senators. He has tried to pressure allies and even threatened to hold a public consultation to try to pass the decrees.

According to the Argentine press, the letter refusing to join BRICS is a way for Milei to focus on the internal crisis.

Source: G1

Click here to read the original text: https://g1.globo.com/mundo/noticia/2023/12/29/milei-formaliza-intencao-de-deixar-brics-em-carta-enviada-ao-brasil.ghtml

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