Argentina Might Join BRICS – Indian Ambassador

MEXICO CITY, May 13 (RIA Novosti) – Three out of five members of the BRICS group of emerging economies support Argentina’s bid to join the club, the Indian ambassador to Buenos Aires said Monday, according to the Clarin news agency.

According to Amarenda Khatua, Brazil, India and South Africa have backed the initiative, while Russia and China have yet to express their views. Yet joining the club of the emerging economies might require further debate among the BRICS member states due to Argentina’s large territory, the state of its economy and its large external debt.

Brazil, Russia, India, China and South Africa are currently working on setting up a BRICS development bank as an alternative to the Western-dominated World Bank and the International Monetary Fund. The idea was proposed by India at a 2012 meeting of the organization’s finance ministers in Mexico.

Full article: Argentina Might Join BRICS – Indian Ambassador (RIA Novosti)

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