Argentina’s firebrand leader Milei deals huge blow to Russia and China SH Argentina’s lead

Argentina’s President Javier Milei has declared Argentina’s intention to withdrawal from BRICS. The decision reverses the previous Argentine government’s plan to join the organisation on January 1st 2024.

In a letter to the leaders of Brazil, Russia, India, China, and South Africa—the BRICS alliance—Milei stated that the current time was not “opportune” for Argentina to become a full member.

Argentina was one of six countries invited in August to join the bloc, which also included Brazil, Russia, India, China, and South Africa, making it an 11-nation coalition.

This move comes as Argentina faces an escalating economic crisis. Milei’s predecessor, former center-left President Alberto Fernandez, had supported BRICS membership, seeing it as a way to gain access to new markets.

The BRICS countries currently account for roughly 40 percent of the global population and more than a quarter of global GDP.

However, Argentina’s economic difficulties fueled a desire for change, resulting in the election of Milei, a political outsider known for wielding a chainsaw, to the presidency.

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