Guess the ghost dog wants the country to starve. I hope he doesn't get what he wants.
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Good riddance. Can't take a country keen on dollarization into an organization who's primary goal is dedollarization.
Why doesn't south America agree on a single currency like the Euro?
The Peso. The Sol. The Amero.
Argentina and Brazil have apparently been looking at it https://www.reuters.com/markets/currencies/brazil-argentina-begin-preparations-common-currency-ft-2023-01-22/
I assume that the rest of Mercosur would be invited over time if it's successful
Some countries would need to stabilise their economies before this would be viable, Argentina in particular with the huge inflation and debt problems would be too much of a liability.
Yeah it seems an odd move from Brazil that Argentina is the one to start off with. It also feels like Brazil, being four fifths of the entire population and GDP of Mercosur, will unavoidably dominate it. But I won't pretend to know enough about South American politics to really comment further
This is the best summary I could come up with:
BUENOS AIRES (AP) — Argentina formally announced Friday that it won’t 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.
Milei’s predecessor, former center-left president Alberto Fernandez, endorsed joining the alliance as an opportunity to reach new markets.
But economic turmoil left many in Argentina eager for change, ushering chainsaw-wielding political outsider Milei into the presidency.
In foreign policy, he has proclaimed full alignment with the “free nations of the West,” especially the United States and Israel.
Throughout the campaign for the presidency, Milei also disparaged countries ruled “by communism” and announced that he would not maintain diplomatic relations with them despite growing Chinese investment in South America.
However, in the letter addressed to his counterpart Luiz Inácio Lula Da Silva in neighboring Brazil and the rest of the leaders of full BRICS members — Xi Jinping of China, Narenda Mondi of India, Vladimir Putin of Russia and Matamela Ramaphosa of South Africa — Milei proposed to “intensify bilateral ties” and increase “trade and investment flows.”
The original article contains 376 words, the summary contains 183 words. Saved 51%. I'm a bot and I'm open source!
Maybe in the next round we can get Algeria or Morocco instead. Either way, Argentina was the weakest link and I'm glad they left on their own.