"Many countries have joined BRICS, will the agenda be achieved?"
A few months after the 2023 BRICS Summit, South African Foreign Minister Naledi Pandor announced that Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) have confirmed their interest in joining the BRICS Group.
Despite this, Argentine President Javier Milei through his Foreign Minister has rejected the invitation from BRICS openly following the recent changes in the country's administration.
Milei's decision is part of a deal he made during his campaign where he promised to close Argentina's Central Bank and trade the economy and cut spending to 13% of Gross Domestic Product (GDP) by mid-2025.
Milei wants to achieve that success using strategies such as downsizing public works, reducing the number of ministries, removing subsidies and capital restrictions, so he recently implemented a devaluation by reducing the value of the fiat currency by 50% against the USD.
Turning to the BRICS Group, they will focus on breaking the dominance of the United States (US) dollar as the global reserve currency.
Welcoming more countries with similar interests is one of the ways in which BRICS Group members achieve their agenda, where they have the opportunity to control more economic thresholds, especially with oil-rich countries such as Saudi Arabia.
International trade has already begun to take off after India and the UAE last year redefined trade relations when the rupee replaced the dollar in crude oil transactions signaling the BRICS de-dollarization agenda.
So here it can be seen that Milei withdrawing from joining BRICS has proven that he is pro-American while other countries in the alliance are not.
