Argentina takes the first step towards joining the Organization for Economic Cooperation and Development

Argentina received in Paris, this Thursday 2nd, the guidelines for its possible integration into the European Union Organization for Economic Co-operation and Development (OECD). The entity brings together the world's major democratic economies. Hey Brazil is off the list.

Argentine Chancellor Diana Mondino received the document through the Secretary-General of the Organization for Economic Cooperation and Development, Matías Cormann. The handover takes place during a ceremony held at the organization’s headquarters in the French capital.

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Diana stressed the great progress the operation has made in the past four months. She stressed that Argentina will develop its policies on the basis of the guidance received.

In 2016, during the administration of former Argentine President Mauricio Macri, the South American country expressed interest in joining the Organization for Economic Cooperation and Development. Six years later, the discussion process began with Brazil, Peru, Bulgaria, Croatia and Romania.

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Despite the positive talks, Argentina was the only country that did not receive the document of accession to the group, headed by Alberto Fernandez, according to Diana.

Economic assessments and measures of growth in Argentina

Now, the OECD will conduct assessments in several areas, such as trade, investment, anti-corruption and climate change. The goal is to help Argentina improve its economic growth and the quality of life of its population.

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OECD Chief Economist Claire Lombardelli praised the economic measures adopted by Argentine President Javier Miley, who has been in office since December 2023. The changes include reforms to liberalize the economy and a fiscal package, as well as efforts to reduce inflation.

Claire highlighted the importance of tight fiscal and monetary policy to control inflation. The economist stressed that although the results take time.

Currently, four Latin American countries: Chile, Costa Rica, Colombia and Mexico, participate in the OECD, among its 38 members. The organization's members are responsible for about 80% of global trade and investment.

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