Argentina won’t join BRICS – newly elected president

Argentina is not planning to become a member of BRICS on January 1, Diana Mondino, senior economic adviser to the country’s president-elect, Javier Milei, told Sputnik Brazil on Monday.

The invitation to join BRICS was approved in August and extended to Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The current alliance consists of Brazil, Russia, India, China, and South Africa.

“I don't know why there is so much interest around BRICS,” Mondino said, adding that it's unclear how joining the group would benefit Argentina.

The candidate for Argentine foreign minister also said that the country’s government will “analyze” if joining the organization promises advantages.

Milei, who beat Economy Minister Sergio Massa in Sunday’s presidential runoff, had previously voiced opposition to joining BRICS. He has also expressed marked reluctance to support economic ties with China and Brazil while planning to work toward economic rapprochement with the US and Israel.

“I’m not going to push for deals with communists because they don't respect the basic parameters of free trade, freedom, and democracy; it’s geopolitics,” Milei said in August, adding that “some countries are not along those lines.”

At the same time, the president-to-be pledged not to interfere with the country’s businesses that are dealing with the BRICS countries. He has also vowed to “dollarize” the Argentinian economy.

Joining the BRICS group was viewed as a chance to open up a “new scenario” for Argentina, outgoing President Alberto Fernandez said back in August after accepting the invitation.

The South American nation is currently struggling with the worst economic crisis in decades. Inflation surged 60% over the past year alone. The severely devalued peso forced the country’s government to refinance its $46 billion debt to the IMF.

For more stories on economy & finance visit RT's business section