Argentina’s new President, Javier Milei, has withdrawn the country from its planned entry into the expanding Brics club of nations.

In a letter to the leaders of Brazil, Russia, India, China and South Africa, Mr Milei said decisions taken by the preceding government had been revised.

The Brics countries are often seen as a counterweight to the Western-led world.

Argentina had been among a much-vaunted new tranche of six countries poised to join the grouping next month.

It would have been admitted to the Brics club on 1 January, alongside Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates.

Its change of heart comes after Mr Milei, a populist right-wing outsider, won a surprise election victory in November with radical pledges to overhaul the South American nation’s ailing economy.

He succeeded left-wing Peronist Alberto Fernández, whose views were more aligned with those of the bloc’s existing members.

Mr Milei said in his letter that his government’s foreign policy “differs in many ways from that of the previous government”.

He added that although he did not consider it “appropriate” for Argentina to become a full Brics member, he was still committed to strengthening bilateral ties, particularly with the aim of increasing trade and investment flows.