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| President of Argentina Image Credit: Al-Jazeera |
Argentina Opts Out of BRICS: President Milei's Bold Move
In a surprising twist, Argentina has officially declared its decision not to join the BRICS bloc, signaling a significant shift in economic and foreign policy under the newly elected hard-right President, Javier Milei.
A Campaign Promise Fulfilled
President Milei, known for his anarcho-libertarian stance, had promised during his campaign to steer Argentina away from the BRICS alliance, emphasizing a desire for closer ties with Western nations.
Timing Not Opportune
In a letter dated December 22, released on Friday, President Milei communicated to the leaders of Brazil, Russia, India, China, and South Africa that the current timing for Argentina's membership in the bloc was deemed inopportune. He outlined that his approach to foreign affairs differed significantly from the previous administration, and certain decisions made by them would be under review.
Western Alignment in Foreign Policy
President Milei's foreign policy direction aligns with Western countries, diverging from the previous administration's efforts to strengthen ties with other developing nations. The move reflects a broader strategy to foster economic relations with Western allies rather than the BRICS bloc.
Sweeping Changes in Three Weeks
Since taking office in December, President Milei has wasted no time implementing radical economic reforms. From expediting divorce procedures to deregulating prices and eliminating subsidies, the capital city of Buenos Aires is witnessing unprecedented changes.
A Shift Towards the West
During his campaign, President Milei criticized countries "ruled by communism," singling out China and economic powerhouse Brazil. He pledged to align Argentina more closely with "free nations of the West," citing Israel and the U.S. as key partners in economic and foreign policy.
Bilateral Ties for Trade and Investment
Despite opting out of BRICS, President Milei emphasized Argentina's commitment to "intensify bilateral ties." The goal is to boost "trade and investment flows" without becoming a member of the BRICS group.
Domestic Challenges
President Milei's bold economic reforms, labeled as "shock therapy" and deregulation, are facing resistance domestically. Powerful organized labor groups in Argentina are pushing back as the country grapples with high inflation.
In summary, Argentina's decision not to join BRICS marks a significant departure from the previous administration's strategy. President Milei's swift and dramatic changes suggest a new era in Argentina's economic and foreign policy, with a clear focus on closer ties with Western nations.
(Courtesy: Al-Jazeera)
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