OECD “Ready for Brazil”

Brazil is a good candidate for OECD membership and Colombia may also make the grade, secretary general Angel Gurria tells LatinFinance. “It depends on Brazil. We are ready to start the process anytime Brazil is ready,” says Gurria. He declines to speculate on timing. The OECD has been inviting Brazil since 2007 to join an enhanced engagement process with a view to possible membership. The former Mexican finance minister says the outlook for Brazil is stable, and he does not expect a change of president to be a market event. “There’s much less uncertainty,” says Gurria. “There’s also in Brazil a culture of stability now, and certainly a culture of avoiding big deficits and inflation. When you have been there, you don’t want to go back.” Meanwhile, Colombia is in the OECD’s development center and a potential member of the international economic organization. “Colombia has a lot of conditions that would allow it to be an interesting and important candidate,” says Gurria. Mexico and Chile are the only OECD members from LatAm, following the latter’s accession in January.