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Weekly Report - 30 April 2020 (WR-20-17)

COLOMBIA: OECD membership provides silver lining

It is not the way the Colombian government would have chosen to celebrate being formally admitted to the Organisation for Economic Co-operation and Development (OECD) after a prolonged accession process spanning seven years. Colombia became the 37th member of the OECD on 28 April after implementing a series of reforms aligning its legislation, policies, and practices to the club’s exacting standards. But the OECD might not approve of all the reforms the government might now need to make to avert a severe recession. A day earlier the government led by President Iván Duque sought to ease a national lockdown, by paving the way for construction and manufacturing firms to resume work, in a bid to mitigate the economic impact of the coronavirus (Covid-19) pandemic and oil-price plunge.

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