In trade matters, the Europeans work primarily not through OECD but through the old GATT and now the World Trade Organization. The Trade Committee examines "issues concerning trade relations among Member countries as well as . . . with non-Member countries, in particular developing countries." Trade and development of the developing world, including Latin America, have been high on the agenda of OECD ever since 1960 when Article 1 of the Convention of 14th December, 1960 under which it was founded set forth as two of its goals, "to contribute to the expansion of world trade on a multilateral, nondiscriminatory basis in accordance with international obligations" and "to contribute to sound economic expansion in Member as well as non-member countries in the process of economic development."Hunter, Brian (ed.). The Statesman's Year-Book 1997-1998. New York: St. Martin's Press, 1997. (3) Steps Taken by Some Latin American Governments to Enact and Implement Structural Reforms. The package of structural internal reforms which IMF proposed to all Latin American governments as a condition to its financial assistance includes various austerity measures, such as internal budget restraint, forced domestic saving, curtailment of unnecessary imports and privatization programs, which are designed primarily to improve each nation's balance of payments and to strengthen its currency. h tariffs and restrictive import licensing which protected domestic producers and fostered the development of import substitution industries, such as the processing of agricultural products. Little says the Latin American experiment in central planning was generally "weak." Secchi, Carlo. "European Financial Co-operation with Latin America: A Variety of Approaches." In Restoring Financial Flows to Latin America, eds. Louis Emmerij & Enrique Iglesias, 169-238. Paris: OECD, 1991. Emmerij, Louis & Enrique Iglesias (eds.). Restoring Financial Flows to Latin America. Paris: OECD |
