Javier Milei, the president of Argentina, notified the heads of BRICS states in letters a few days before the country was scheduled to formally join BRICS that he was pulling out of the group. Milei wrote to the presidents of Brazil, Russia, India, China, and South Africa, stating that the previous government's decision had been reversed. In 2001, economist Jim O'Neill coined the term "BRIC." The term's primary goal was to draw attention to the rapid economic development rates in China, Brazil, Russia, and India. PM Modi on BRICS Expansion: Inclusion of 6 Nations Gives Message of Transforming With Changing Times, Says Prime Minister Narendra Modi.

Argentina Formally Rejects BRICS Membership

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