TN TV channel quoted a source revealing that Argentine President Javier Milei has officially informed member countries of the world's leading emerging economies (BRICS) that Buenos Aires will not join the bloc.
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| President Milei officially announced that Argentina will not join BRICS. (Source: Reuters) |
According to the source, in the letter, President Milei explained that he did not think Argentina's decision to join BRICS was reasonable at the present time.
Meanwhile, the online newspaper Infobae reported that the Argentine leader sent official notices to Chinese President Xi Jinping, Russian President Vladimir Putin, Brazilian President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi.
Mr. Milei took office as President of Argentina on October 10.
The right-wing politician reiterated his intention not to strengthen relations with Brazil, China and Russia due to disagreements with their policies, but at the same time affirmed that he would not prevent private companies from doing business with the three mentioned countries.
On November 30, Argentine Foreign Minister Diana Mondino announced that Buenos Aires will not join BRICS.
The South American country is currently struggling with its worst economic crisis in decades. Inflation has risen 60% in the past year alone.
The local currency Peso has been severely devalued, forcing the government to restructure its $44 billion debt to the International Monetary Fund (IMF).
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