Posted 12/23/2023, 7:02:19 PM
Argentina Rejects BRICS Invitation, Leading China to Suspend $6.5B Swap Deal
- China suspended Argentina's $6.5B currency swap after Argentina rejected BRICS invitation
- Invitation was part of BRICS' first expansion effort to include 6 new countries
- Argentina originally saw value in BRICS economic partnership
- Newly elected President Javier Milei expressed perceiving no value in joining BRICS
- Argentina looking to "dollarize" economy and align more with the West rather than BRICS