Argentina has formally announced it won't join the BRICS bloc of developing economies. Friday's announcement is just the latest in a dramatic shift in economic policy triggered by Argentina’s new far-right President Javier Milei.
Some countries would need to stabilise their economies before this would be viable, Argentina in particular with the huge inflation and debt problems would be too much of a liability.
Argentina and Brazil have apparently been looking at it https://www.reuters.com/markets/currencies/brazil-argentina-begin-preparations-common-currency-ft-2023-01-22/
I assume that the rest of Mercosur would be invited over time if it’s successful
Some countries would need to stabilise their economies before this would be viable, Argentina in particular with the huge inflation and debt problems would be too much of a liability.