IBOV 176,181 ▲ 0.25% IPSA 10,928 ▲ 0.16% IPC MEX 66,667 ▲ 1.05% MERVAL 3,237,975 ▲ 0.08% COLCAP 2,298.82 ▼ 0.38% BVL PERÚ 56,428.20 ▲ 1.62% USD/BRL5.08▼ 1.20% USD/MXN17.42▼ 0.62% USD/CLP923.08▼ 1.05% USD/COP3,254▼ 0.25% USD/PEN3.39▼ 0.64% USD/ARS1,473▼ 0.71% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.31▲ 0.39% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.80▼ 0.34% BRENT 84.91 ▲ 1.93% WTI 79.19 ▲ 1.34% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.41% GOLD 4,068 ▲ 1.77% SILVER 59.15 ▲ 2.62% SOY 1,192 ▼ 0.83% CORN 459.75 ▲ 5.03% WHEAT 645.75 ▲ 2.99% COFFEE 325.60 ▼ 4.63% SUGAR 14.87 ▲ 0.81% ORANGE JUICE 139.55 ▼ 2.10% COTTON 81.68 ▲ 2.32% COCOA 5,888 ▲ 3.37% BEEF 231.80 ▼ 1.25% CATTLE 349.58 ▼ 1.35% LITHIUM 71.43 ▲ 1.69% PETR4 40.78 ▲ 0.30% VALE3 74.06 ▲ 1.66% ITUB4 43.51 ▼ 0.02% BBDC4 18.61 ▼ 0.85% ABEV3 15.89 ▲ 0.38% BBAS3 20.48 ▲ 1.19% B3SA3 15.32 ▲ 1.32% WEGE3 44.23 ▼ 0.36% PRIO3 56.91 ▼ 0.51% SUZB3 41.11 ▼ 0.92% RENT3 40.35 ▲ 0.37% AZZA3 18.84 ▼ 1.98% CSAN3 3.88 ▼ 0.51% RAIZ4 0.32 ▼ 3.03% PCAR3 2.48 ▼ 4.25% GMAT3 3.95 ▲ 0.25% PSSA3 54.09 ▲ 0.09% CVCB3 1.27 ▲ 1.60% POSI3 3.94 ▼ 1.25% SLCE3 13.68 ▼ 1.37% NATU3 8.51 ▼ 1.05% BRKM5 6.67 ▼ 3.89% RANI3 8.01 ▲ 0.75% CSNA3 5.13 ▼ 2.10% CMIN3 5.23 ▼ 4.04% USIM5 8.24 ▼ 1.67% GGBR4 23.10 ▲ 1.23% ENEV3 26.85 ▼ 0.11% CPFE3 47.01 ▲ 0.36% CMIG4 11.12 ▲ 0.45% EQTL3 40.61 ▲ 0.99% LREN3 14.12 ▼ 0.21% VIVT3 35.15 ▲ 1.21% RAIL3 14.13 ▲ 0.14% KLABIN 17.37 ▼ 0.63% RAIA DROGASIL 18.39 ▲ 1.04% RDOR3 35.58 ▲ 0.06% HAPV3 10.64 ▲ 1.72% FLRY3 16.28 ▲ 0.81% SMTO3 16.10 ▼ 1.65% UGPA3 30.19 ▼ 2.39% VBBR3 32.88 ▲ 0.37% BBSE3 40.17 ▼ 0.27% BPAC11 58.00 ▲ 0.83% CURY3 32.79 ▼ 1.00% AERI3 2.09 ▲ 0.48% VIVARA 23.25 ▲ 0.61% COMPASS 25.15 ▲ 1.53% VAMOS 3.05 ▲ 0.99% SANB11 27.34 ▼ 0.11% ASAI3 8.65 ▼ 0.69% SBSP3 30.31 ▼ 0.20% WALMEX 49.55 ▼ 0.20% GMEXICO 201.85 ▲ 3.20% FEMSA 233.38 ▲ 3.56% CEMEX 22.14 ▲ 1.65% GFNORTE 186.38 ▲ 2.37% BIMBO 56.14 ▲ 0.48% TELEVISA 9.47 ▼ 1.46% AMX 22.86 ▲ 1.20% GAP 387.96 ▼ 4.96% ASUR 277.78 ▼ 0.32% OMA 234.24 ▲ 0.39% KOF 182.19 ▲ 0.28% GRUMA 282.73 ▲ 0.48% KIMBER 38.42 ▲ 0.52% SQM-B 67,731 ▲ 0.77% COPEC 6,070 ▲ 0.21% BSANTANDER 78.76 ▲ 0.72% FALABELLA 5,904 ▼ 0.03% ENELAM 85.35 ▲ 1.37% CENCOSUD 2,063 ▲ 1.13% CMPC 1,083 ▲ 0.46% BANCO CHILE 188.50 ▲ 1.89% LATAM AIR 24.57 ▼ 1.33% YPF 77,250 ▲ 0.10% GGAL 8,055 ▼ 0.31% PAMPA 5,210 ▼ 0.29% TXAR 665.00 ▲ 0.08% ALUAR 961.00 ▼ 0.36% TGS 9,690 ▲ 1.25% CEPU 2,301 ▼ 0.78% MIRGOR 16,800 ▼ 1.18% COME 45.14 ▲ 0.80% LOMA NEGRA 3,535 ▲ 1.07% BYMA 306.50 ▼ 0.57% TELECOM ARG 4,248 ▼ 0.06% ECOPETROL 15.97 ▲ 0.54% BANCOLOMBIA 81.73 ▲ 1.63% GRUPO AVAL 4.92 ▲ 0.20% CREDICORP 391.19 ▲ 0.50% SOUTHERN COPPER 180.12 ▲ 3.20% BUENAVENTURA 30.96 ▲ 3.82% MERCADOLIBRE 1,872 ▲ 0.24% NUBANK 13.99 ▲ 2.34% XP 16.79 ▲ 2.54% PAGSEGURO 9.25 ▼ 0.32% STONE 11.22 ▲ 0.63% GLOBANT 31.82 ▼ 0.95% TECNOGLASS 43.52 ▲ 1.59% GAP AIRPORT 221.77 ▼ 4.73% ASUR 277.78 ▼ 0.32% OMA AIRPORT 107.42 ▲ 1.22% AMX ADR 26.16 ▲ 0.50% FEMSA ADR 134.00 ▲ 3.87% CEMEX ADR 12.73 ▲ 2.25% PETROBRAS ADR 17.98 ▲ 0.56% VALE ADR 14.55 ▲ 2.58% ITAU ADR 8.56 ▲ 1.00% SANTANDER BR 5.40 ▲ 0.93% AMBEV ADR 3.10 ▲ 1.31% CSN 1.02 ▼ 1.46% GERDAU 4.57 ▲ 1.67% LATAM ADR 53.35 ▲ 0.03% BTC 64,834 ▲ 4.17% ETH 1,874 ▲ 5.69% SOL 77.52 ▲ 3.55% XRP 1.11 ▲ 3.92% BNB 582.12 ▲ 2.73% ADA 0.17 ▲ 5.58% DOGE 0.07 ▲ 4.31% AVAX 6.67 ▲ 3.50% LINK 8.30 ▲ 5.46% DOT 0.86 ▲ 2.57% LTC 44.77 ▲ 2.95% BCH 239.52 ▲ 1.39% TRX 0.32 ▲ 0.25% XLM 0.19 ▲ 2.60% HBAR 0.07 ▲ 0.70% NEAR 2.04 ▲ 6.12% ATOM 1.56 ▲ 1.30% AAVE 100.11 ▲ 6.09% SELIC 14.25% EMBRAER 82.89 ▼ 0.14% EMBRAER ADR 65.34 ▲ 1.33% JBS 11.87 ▲ 0.55% JBS BDR 60.20 ▼ 0.68% MBRF3 15.96 ▲ 1.53% MBRFY 3.10 ▲ 1.64% INTER 5.67 ▲ 0.33% IBOV 176,181 ▲ 0.25% IPSA 10,928 ▲ 0.16% IPC MEX 66,667 ▲ 1.05% MERVAL 3,237,975 ▲ 0.08% COLCAP 2,298.82 ▼ 0.38% BVL PERÚ 56,428.20 ▲ 1.62% USD/BRL 5.08 ▼ 1.19% USD/MXN 17.43 ▼ 0.59% USD/CLP 923.15 ▼ 1.05% USD/COP 3,251 ▼ 0.35% USD/PEN 3.39 ▼ 0.65% USD/ARS 1,473 ▼ 0.71% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.34 ▲ 0.44% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.80 ▼ 0.34% BRENT 84.91 ▲ 1.93% WTI 79.19 ▲ 1.34% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.41% GOLD 4,068 ▲ 1.77% SILVER 59.15 ▲ 2.62% SOY 1,192 ▼ 0.83% CORN 459.75 ▲ 5.03% WHEAT 645.75 ▲ 2.99% COFFEE 325.60 ▼ 4.63% SUGAR 14.87 ▲ 0.81% ORANGE JUICE 139.55 ▼ 2.10% COTTON 81.68 ▲ 2.32% COCOA 5,888 ▲ 3.37% BEEF 231.80 ▼ 1.25% CATTLE 349.58 ▼ 1.35% LITHIUM 71.43 ▲ 1.69% PETR4 40.78 ▲ 0.30% VALE3 74.06 ▲ 1.66% ITUB4 43.51 ▼ 0.02% BBDC4 18.61 ▼ 0.85% ABEV3 15.89 ▲ 0.38% BBAS3 20.48 ▲ 1.19% B3SA3 15.32 ▲ 1.32% WEGE3 44.23 ▼ 0.36% PRIO3 56.91 ▼ 0.51% SUZB3 41.11 ▼ 0.92% RENT3 40.35 ▲ 0.37% AZZA3 18.84 ▼ 1.98% CSAN3 3.88 ▼ 0.51% RAIZ4 0.32 ▼ 3.03% PCAR3 2.48 ▼ 4.25% GMAT3 3.95 ▲ 0.25% PSSA3 54.09 ▲ 0.09% CVCB3 1.27 ▲ 1.60% POSI3 3.94 ▼ 1.25% SLCE3 13.68 ▼ 1.37% NATU3 8.51 ▼ 1.05% BRKM5 6.67 ▼ 3.89% RANI3 8.01 ▲ 0.75% CSNA3 5.13 ▼ 2.10% CMIN3 5.23 ▼ 4.04% USIM5 8.24 ▼ 1.67% GGBR4 23.10 ▲ 1.23% ENEV3 26.85 ▼ 0.11% CPFE3 47.01 ▲ 0.36% CMIG4 11.12 ▲ 0.45% EQTL3 40.61 ▲ 0.99% LREN3 14.12 ▼ 0.21% VIVT3 35.15 ▲ 1.21% RAIL3 14.13 ▲ 0.14% KLABIN 17.37 ▼ 0.63% RAIA DROGASIL 18.39 ▲ 1.04% RDOR3 35.58 ▲ 0.06% HAPV3 10.64 ▲ 1.72% FLRY3 16.28 ▲ 0.81% SMTO3 16.10 ▼ 1.65% UGPA3 30.19 ▼ 2.39% VBBR3 32.88 ▲ 0.37% BBSE3 40.17 ▼ 0.27% BPAC11 58.00 ▲ 0.83% CURY3 32.79 ▼ 1.00% AERI3 2.09 ▲ 0.48% VIVARA 23.25 ▲ 0.61% COMPASS 25.15 ▲ 1.53% VAMOS 3.05 ▲ 0.99% SANB11 27.34 ▼ 0.11% ASAI3 8.65 ▼ 0.69% SBSP3 30.31 ▼ 0.20% WALMEX 49.55 ▼ 0.20% GMEXICO 201.85 ▲ 3.20% FEMSA 233.38 ▲ 3.56% CEMEX 22.14 ▲ 1.65% GFNORTE 186.38 ▲ 2.37% BIMBO 56.14 ▲ 0.48% TELEVISA 9.47 ▼ 1.46% AMX 22.86 ▲ 1.20% GAP 387.96 ▼ 4.96% ASUR 277.78 ▼ 0.32% OMA 234.24 ▲ 0.39% KOF 182.19 ▲ 0.28% GRUMA 282.73 ▲ 0.48% KIMBER 38.42 ▲ 0.52% SQM-B 67,731 ▲ 0.77% COPEC 6,070 ▲ 0.21% BSANTANDER 78.76 ▲ 0.72% FALABELLA 5,904 ▼ 0.03% ENELAM 85.35 ▲ 1.37% CENCOSUD 2,063 ▲ 1.13% CMPC 1,083 ▲ 0.46% BANCO CHILE 188.50 ▲ 1.89% LATAM AIR 24.57 ▼ 1.33% YPF 77,250 ▲ 0.10% GGAL 8,055 ▼ 0.31% PAMPA 5,210 ▼ 0.29% TXAR 665.00 ▲ 0.08% ALUAR 961.00 ▼ 0.36% TGS 9,690 ▲ 1.25% CEPU 2,301 ▼ 0.78% MIRGOR 16,800 ▼ 1.18% COME 45.14 ▲ 0.80% LOMA NEGRA 3,535 ▲ 1.07% BYMA 306.50 ▼ 0.57% TELECOM ARG 4,248 ▼ 0.06% ECOPETROL 15.97 ▲ 0.54% BANCOLOMBIA 81.73 ▲ 1.63% GRUPO AVAL 4.92 ▲ 0.20% CREDICORP 391.19 ▲ 0.50% SOUTHERN COPPER 180.12 ▲ 3.20% BUENAVENTURA 30.96 ▲ 3.82% MERCADOLIBRE 1,872 ▲ 0.24% NUBANK 13.99 ▲ 2.34% XP 16.79 ▲ 2.54% PAGSEGURO 9.25 ▼ 0.32% STONE 11.22 ▲ 0.63% GLOBANT 31.82 ▼ 0.95% TECNOGLASS 43.52 ▲ 1.59% GAP AIRPORT 221.77 ▼ 4.73% ASUR 277.78 ▼ 0.32% OMA AIRPORT 107.42 ▲ 1.22% AMX ADR 26.16 ▲ 0.50% FEMSA ADR 134.00 ▲ 3.87% CEMEX ADR 12.73 ▲ 2.25% PETROBRAS ADR 17.98 ▲ 0.56% VALE ADR 14.55 ▲ 2.58% ITAU ADR 8.56 ▲ 1.00% SANTANDER BR 5.40 ▲ 0.93% AMBEV ADR 3.10 ▲ 1.31% CSN 1.02 ▼ 1.46% GERDAU 4.57 ▲ 1.67% LATAM ADR 53.35 ▲ 0.03% BTC 64,834 ▲ 4.17% ETH 1,874 ▲ 5.69% SOL 77.52 ▲ 3.55% XRP 1.11 ▲ 3.92% BNB 582.12 ▲ 2.73% ADA 0.17 ▲ 5.58% DOGE 0.07 ▲ 4.31% AVAX 6.67 ▲ 3.50% LINK 8.30 ▲ 5.46% DOT 0.86 ▲ 2.57% LTC 44.77 ▲ 2.95% BCH 239.52 ▲ 1.39% TRX 0.32 ▲ 0.25% XLM 0.19 ▲ 2.60% HBAR 0.07 ▲ 0.70% NEAR 2.04 ▲ 6.12% ATOM 1.56 ▲ 1.30% AAVE 100.11 ▲ 6.09% SELIC 14.25% EMBRAER 82.89 ▼ 0.14% EMBRAER ADR 65.34 ▲ 1.33% JBS 11.87 ▲ 0.55% JBS BDR 60.20 ▼ 0.68% MBRF3 15.96 ▲ 1.53% MBRFY 3.10 ▲ 1.64% INTER 5.67 ▲ 0.33%
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Opinion: Argentina’s diplomatic tango – the BRICS dream & Milei’s impact

By · August 19, 2023 · 3 min read

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The seismic ripples of Javier Milei’s unexpected victory in the primaries haven’t been contained within Argentina’s borders.

As the global community sits up and takes note, the ramifications of this libertarian’s potential rise to power might very well reshape international dynamics.

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The BRICS alliance is not just another international bloc for a nation like Argentina, which has perpetually been on the teetering edge of economic challenges.

It represents an economic lifeline, a gateway to stronger economic ties, and a bolstered international stature.

Argentina’s dream of joining this alliance is not just a strategy but a necessity.

However, the winds of political change, as evidenced by Milei’s triumph, threaten to derail these aspirations.

It’s easy to understand why. Milei’s foreign policy leanings, to put it mildly, are unorthodox.

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The idea of cutting off ties with economic behemoths like China, re-evaluating associations with integral regional groups like Mercosur, and veering towards “Western liberal democracies” is not just a departure from the status quo; it’s a dramatic pivot.

However, one might argue that sometimes, a fresh perspective is precisely what’s needed.

For too long, Argentina has been ensnared in economic quicksand, with traditional alignments and strategies yielding limited success.

Milei’s radical approach, though disruptive, could be the jolt that rejuvenates Argentina’s global standing.

But here lies the dilemma.

Can Argentina afford to take such audacious risks at this juncture?

At a time when its entry into the BRICS bank hangs in the balance, when billions in potential investments are at stake, is this the time for Argentina to roll the dice?

Marcelo Ninio’s remarks encapsulate the uncertainty that pervades the international community.

Milei’s victory, though just in the primaries, has sown seeds of doubt.

Nations are wary, and the unanimous vote required from BRICS founding members for Argentina’s inclusion suddenly looks daunting.

The stance of President Cristina Kircher, which eyed the BRICS as a counterbalance to traditional power blocs dominated by the US, was a strategic vision.

It’s a perspective that took a back seat during Macri’s term, only to be revived with gusto under Alberto.

But with Milei’s rise, this dream faces an existential threat.

Milei’s talk of a “cleanse” in the Foreign Affairs ministry further exacerbates concerns. Diplomacy is a delicate dance, a balance of power and persuasion.

Disrupting this equilibrium could have consequences far beyond administrative reshuffles.

Brazil’s cautious approach and China’s guarded stance, as exemplified by Wang Wenbin’s statements, are not just isolated reactions.

They’re indicators of a larger global sentiment. The world is watching, waiting, and weighing its options vis-à-vis Argentina.

Yet, amidst this geopolitical suspense, the ultimate decision rests with Argentina’s populace.

As the nation gears up for the general elections in October, the choices made will not just determine the domestic political landscape but potentially reshape Argentina’s global trajectory.

The journey ahead is rife with challenges and uncertainties. But one thing is clear:

Argentina stands at a crossroads, and the path it chooses will have repercussions that resonate far beyond its borders.

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