US Blocks Analysis Process for Brazil to Enter OECD

03/01/2018 - 11h25

Nine months after Brazil's request to become a member of the Organization for Economic Co-operation and Development (OECD), the US is blocking the beginning of the process to analyze the request from inside the OECD.

On Wednesday, February 28, the OECD released a major report in Brasília with diagnoses and solutions for the problems faced by the Brazilian economy.

Brazil values its entrance in the OECD because it would increase international confidence in the country. It could even help to reduce the cost of the public debt, the president of Brazil's Central Bank, Ilan Goldfajn, said at the launching of the study.

When the request was formally filed in June, it was expected that an answer would follow in up to two months, and the analysis of the process would begin. So far, no answer has been given, as the U.S. has voted against Brazil's participation.

The U.S. believes that the OECD, which currently has 35 members, should continue as a "wealthy nations' club."

That means a smaller group would lead to fewer disagreements. Folha has learned that members of the Brazilian government have been travelling to the U.S. regularly to talk to American authorities and companies to try to gain support.

It is believed, however, that Brazil has a better chance at getting President Donald Trump to support the idea publicly, as the President of Argentina, Mauricio Macri, did last year.

In addition to Argentina, four other countries are now trying to become members of the OECD: Peru, Bulgaria, Croatia and Romania.

Translated by THOMAS MUELLO

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