Argentina announces it will not join economic bloc in latest policy shift

Argentina’s President Javier Milei wrote to the leaders of Brazil, Russia, India, China and South Africa (Natacha Pisarenko/AP)

Argentina formally announced on Friday that it will not join the Brics bloc of developing economies, the latest in a dramatic shift in foreign and economic policy by Argentina’s new far-right populist President Javier Milei.

In a letter addressed to the leaders of Brazil, Russia, India, China and South Africa — all members of the alliance — Mr Milei said the moment was not “opportune” for Argentina to join as a full member.