OECD: a certain course

Internationalist

In full systemic redistribution of power evidenced today in the escalation of conflicts (Ukraine, Taiwan) involving major powers, minor powers should take advantage of opportunities to consolidate cooperative alignments that strengthen their principles and maximize their interest at the lowest possible cost.

Especially when this context is complicated by problems of slowing global economic growth (4.4% in 2022, IMF), rising inflation, financial uncertainty and unmanageable technological changes that increase the vulnerability of emerging economies. For these, the value of a clear long-term external direction and orientation has increased.

The OECD’s invitation to Peru (and to Argentina, Brazil, Bulgaria, Croatia and Romania) to initiate “adherence talks” to that coordination entity presents that opportunity. Taking advantage of it would attenuate external political and economic instability, reduce country risk in its broad version, and improve Peru’s economic status internationally by anchoring its uncertain course with an effective institution and a powerful nucleus of Western origin.

A small and rational state should welcome that kind of invitation. Especially when this is convergent with a national interest that began to be forged in Peru in 2008 when requesting its adherence to preliminary instances of the OECD (the Agreement on Foreign Investment and Multinational Companies). This was later confirmed with the adoption of the “Country Program” which, between 2015-2017, involved removing barriers to growth, improving public governance, combating corruption, developing human capital and protecting the environment.

These commitments were based on the observance of coinciding principles (the defense of individual liberty, democracy, the rule of law, human rights, free trade and a sustainable market economy) and on the purpose of seeking the standardization of good government practices and efficient coordination of public policies.

If Chile, Mexico, Colombia and Costa Rica (Latin American members of the OECD) agreed that the adoption of these principles and commitments served to seek solutions to specific development problems and confront common challenges, they should also serve Peru, which has already declared its interest about it.

Let it not be the ideology of an inefficient government or the growing illegitimacy of a disoriented president that deprive the State of achieving that national interest. And less so when the progressive deterioration of its institutions subtracts sustenance from the market without a certain end.

The link with the OECD, which extends an unexpected hand, would help to avoid, in no small measure, the path to the cliff.