"Many countries have joined BRICS, will the agenda be achieved?"
A few months after the 2023 BRICS Summit, South African Foreign Minister Naledi Pandor informed that Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) have confirmed their interest in joining the BRICS Group.
Even so, Argentine President Javier Milei through his Foreign Minister has declined the invitation from BRICS clearly following the recent changes in the country's administration.
Milei's decision was part of an agreement he made during his campaign where it promise to close Argentina's Central Bank and trading economy as well as a 13% reduction in spending from Gross Domestic Product (GDP) before mid-2025.
Milei wants to achieve that success using strategies such as shrinking public works, reducing the number of ministries, eliminating subsidies and capital restrictions, so he recently implemented a devaluation by reducing the value of the fiat currency by 50% relative to 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 way the members of the BRICS Group achieve their agenda, where they have the opportunity control more economic thresholds especially with oil-rich countries like Saudi Arabia.
Please note that international trade has already begun following India and the UAE last year redefining 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.
