It’s official. It was predictable. BRICS should move forward without Argentina. The government of Javier Milei has just officially announced that it is declining the invitation from the economic bloc. The information was published on X this Thursday, November 30 by Diana Mondino, the one who is tipped to be the government’s Minister of Foreign Affairs. A look back at the circumstances surrounding this decision and its consequences on geopolitics.
Argentina wants to trade with BRICS members without turning its back on the USA
Between BRICS and the USA, Javier Milei made his choice, even before his inauguration scheduled for December 10. The Argentine president chose to align himself with American policy and to proceed, among other things, with the dollarization of Argentina.
He made this known through his future Minister of Foreign Affairs, Diana Mondino, through a short message published on. The diplomat noted that its two largest economic partners, China and Brazil, are already part of the group. She believes that Argentina’s membership in BRICS will have no real added value for this country.
The country wishes to collaborate with the American government to emerge from the economic turmoil which engulfs it on all sides. In other words, Argentina will continue to collaborate with China and Brazil while strengthening its relations with the USA. A genius, this president!
And whether it really is one or not, history will record that Argentina was the first country to decline the invitation from one of the most influential economic blocs in the world. But who cares what history remembers?
The problem is that this decision could encourage other countries to decline the BRICS invitation in the future. This could place the bloc in a very bad position and affect its expansion and dedollarization policies.
Argentina prioritizes cryptocurrencies to stabilize its economy
If Javier Milei has just created a real diplomatic surprise, we must give him credit for having given priority to the interests of his country. How many BRICS members have a poverty rate reaching 40% with inflation above 140%? While waiting to officially take the reins of the country on December 10, Milei has decided to take the bulls by the horns to stabilize Argentina’s dying economy.
And if he turns his back on BRICS, he does not reject cryptocurrencies. Indeed, Milei promised to abolish the central bank and promote an alternative financial system to traditional banking systems in Argentina. He plans to promote the use of cryptocurrencies, which repositions his country in the international financial landscape. Clearly, we remember that Javier Milei is determined to change the economic and political orientation of Argentina. With its plans to dollarize Argentina, we can expect to see the country launch its own CBDC and make stablecoins legal tender within a few months. In any case, wait and see.
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