Argentina President-elect to head towards the US
Argentina President-elect Javier Milei announced on X that he is heading to the US to meet with US governmental representatives and the International Monetary Fund.
Argentina President-elect Javier Milei announced on X that he is heading to the US to meet with US governmental representatives and the International Monetary Fund (IMF).
The far-right elect will be instated in office on December 10. He has expressed anti-BRICS sentiments, opting for involvement in the South American trade bloc.
Foreign Minister candidate Diana Mondido also backs these decisions, saying she "doesn't know why there is such interest in BRICS". She announced that collaborations with BRICS countries, specifically Brazil and China, will stop despite both of these countries being the main trade partners for Argentina.
This comes after former president Alberto Fernandez had come to an agreement with his Brazilian counterpart Lula Da Silva to develop a framework for using their own currencies in bilateral commerce amid a rising trend of many nations dumping the US dollar in trade transactions.
Argentina at risk of losing monetary sovereignty
Milei also showed interest in a friendly foreign policy with the US and "Israel", and proposed the dollarization of the Argentinian currency.
Current Foreign Minister Santiago Cafiero was quick to criticize the proposal, claiming it puts the Argentinian economy at risk of losing monetary sovereignty.
He added that "exports are the way, that dollars should be produced by exports."
Cafiero has shown an aversion to Milei's presidency saying that "we [Argetininas] want a productive Argentina" something he claims Milei will not be able to achieve.
SI MILEI ES PRESIDENTE, EL 11 DE DICIEMBRE ARGENTINA PERDERÍA EL 22% DE SUS EXPORTACIONES— Santiago Cafiero (@SantiagoCafiero) November 9, 2023
¿Por qué? Propone destruir las relaciones comerciales con Brasil y China. Son 22 mil millones de dólares que perdería nuestro país, destruyendo el trabajo que generan las PyMEs argentinas. pic.twitter.com/7X1iWr1Bzb