Chile Joins the OECD
By: Benjamin Russell
January 20, 2010

On January 11, Chile joined the Organization for Economic Cooperation and Development (OECD), making it the first South American member of the organization.  The OECD, which extended an offer of admission to Chile in December, promotes free-market economics and democratic practices.

In order to join, Chile had to make legislative adjustments to end tax loopholes and curb bribery and corruption in the banking sector, according to OECD.org.  Chile is one of the fastest growing economies in Latin America and the region’s highest ranking country on Freedom House’s democracy index.  Chile’s acceptance by the OECD is reflective of the country’s creativity in economic liberalization and commitment to governmental transparency, according to Ryan Streeter of the American.

Sources:

Chile signs up as first OECD member in South America – OECD.org
http://www.oecd.org/document/26/0,3343,en_2649_34487_44365210_1_1_1_1,00.html

Ascendent Chile Joins OECD: A Triumph of Liberty – The American
http://blog.american.com/?p=9244

www.ccd21.org