At the BRICS summit held in South Africa, the five member states unanimously adopted the decision to invite Argentina and six other countries to join the BRICS, but Argentina announced that it would not consider joining for the time being. Argentina's foreign minister-to-be, Diana Mondino, said on social platforms that joining the BRICS requires paying the New Development Bank's fees, and Argentina cannot raise enough funds due to financial constraints. Previously, Argentina** had already implemented a series of measures to reduce its budget, expenditure items and projects, and was seeking loans from the International Monetary Fund**, so they could not afford to join the BRICS. Despite the argument that this is just an excuse, Argentina**'s fiscal situation is indeed worrying.
Argentina's economy has been in a chronic downturn and is facing serious financial difficulties and debt problems. Over the past few years, Argentina** has had to repeatedly seek loan assistance from international agencies and other countries. However, this assistance has not been of great help to Argentina, and the debt problem remains unresolved. Argentina** has adopted a series of austerity measures since Milley came to power, including budget cuts and departmental cuts, in response to the dire fiscal situation. However, these measures have not been effective in improving Argentina's financial situation, and they continue to face a lack of funds.
Composed of five emerging market countries, Brazil, Russia, India, China and South Africa, BRICS is an international organization with significant influence. Joining the BRICS is important for Argentina as it can provide financial support and opportunities for economic cooperation, helping to improve the country's financial situation and boost its economy. In addition, BRICS can also provide Argentina with more opportunities for international cooperation, which is also important in political and diplomatic terms. However, due to the current serious financial difficulties of Argentina, they cannot afford to join the BRICS, so they have temporarily given up the opportunity to join.
Although Argentina is not considering joining the BRICS for the time being, this does not mean that they will never join. In fact, Argentina** has recently seen some changes in its attitude towards international cooperation and partnerships. The new ** will continue to carry out friendly cooperation with China and Russia, and expressed its willingness to cooperate with BRICS member countries. Therefore, for Argentina**, they may reconsider joining the BRICS after the fiscal situation improves. However, to achieve this goal, Argentina** also needs to take effective measures to solve its financial and debt problems in order to guarantee that it can cover the costs of joining the BRICS.
Argentina's decision has certain implications for the other members of the BRICS. BRICS member states need to vote unanimously on some major decisions, which means that if Argentina's position is often inconsistent with other countries, it may affect the efficiency of the BRICS. Therefore, even if other member states agree to Argentina's accession to the BRICS, they should be cautious about Argentina's position. Some experts even suggest temporarily "isolating" Argentina from other countries so that it does not become a destabilizing factor within the BRICS.
Argentina is not considering joining the BRICS for the time being, mainly because of its poor financial position and inability to cover the costs of membership. Argentina** recently expressed its willingness to cooperate with China and Russia, and expressed a friendly visit to the BRICS. However, to achieve its goal of joining the BRICS, Argentina will also need to address its financial woes and debt problems to ensure that it can cover the costs of membership. In addition, other BRICS member states also need to be cautious about Argentina's position in order to ensure the efficiency of the BRICS operation. For Argentina, joining the BRICS may be an important development opportunity, but in the current situation, they still have a lot of problems to solve.