Argentina Rejects BRICS Membership in Major Policy Shift

President Javier Milei Opts for Closer Ties with 'Free Nations of the West' Amid Deepening Economic Crisis

Argentina's new President Javier Milei has formally announced that the country will not join the BRICS alliance of developing economies.
The decision marks a significant shift in foreign and economic policy, as Argentina was set to join the bloc on January 1, 2024.
Milei, who identifies as an 'anarcho-capitalist', has implemented a series of measures to deregulate the economy and align with the 'free nations of the West', particularly the United States and Israel.
Despite rejecting BRICS membership, Milei expressed a desire to 'intensify bilateral ties' and increase 'trade and investment flows' with the BRICS nations.
The decision comes as Argentina grapples with a deepening economic crisis, with Milei's predecessor having endorsed joining the alliance as an opportunity to reach new markets.