BRICS: Argentina Says ‘No Benefit’ to Join Alliance

Joshua Ramos
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Source: AP

Despite being a key part of the BRICS expansion plan, Argentina has recently said that there is ‘no benefit’ to joining the alliance. Indeed, reports have stated the government’s position on the prospect of it eventually joining the economic bloc. Moreover, the reports arrived after the country’s new regime commented on the invitation issued at the Alliances 2023 summit.

Newly elected president, Javier Milei, has been outspoken about his position regarding China. Additionally, he has made comments regarding the possible dollarization of the Argentinian economy, further solidifying the growing canyon between the motivations and focus of the country and the BRICS bloc.

Source: CNN

Also Read: BRICS: Nigeria Set to Replace Argentina in Expansion?

Argentina Says BRICS Entry Has “No Benefit”

For much of the past year, the BRICS economic alliance has seen tremendous growth. It’s de-dollarization efforts have taken hold on an international level, and it enjoyed growing prominence on a geopolitical level. Subsequently, the bloc hoped to leverage that into an increased membership, which was made official at its 2023 summit.

Now, one of the original six expansion nations has declined, and gone further in its opinion of such an invitation. Specifically, the BRICS invitee, Argentina, has said there is “no benefit” to joining the alliance. Moreover, the country’s incoming regime has been vocal about its stance.

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Source: Flickr

Also Read: BRICS: 150 Countries To Pay Chinese Yuan, Not USD for Loan Repayment?

The newly elected president-appointed foreign minister, Diana Mondino, officially declined the invitation. “We will not join BRICS,” she stated. Moreover, Mondino assured that the acceptance process into BRCIS was “never approved,” despite beginning earlier this year.

Additionally, Mondino stated she did not see any “advantages” to entering into the economic alliance. Altogether, the growing international perception of the bloc presents a trajectory toward the multipolarity the bloc has long discussed. Moreover, countries like Nigeria and Pakistan have been quick to take up the seat that Argentina abandoned.