As a follow up to our December 27th, 2009 posting regarding proposed admission of Chile into the OECD, Chile’s admission to the OECD is now complete.
Chile’s economic future has brightened considerably merely by being admitted to OCED. From now on, Chile will have a seat at the table when free trade agreements and other economic covenants between major economies are up for discussion. The country’s economic fundamentals also appear strong. Chile expects, “…real GDP growth to average a solid 3.4% beyond 2010 through to the end” of a 10 year growth horizon. Unemployment stands at a modest (given the recession) 9%, while inflation has held steady at 4%. Additionally, Chile remains and is becoming an even more attractive foreign direct investment choice.