Economic challenges include: improving public finances, pension reform, boosting telecoms sector and competition with the emerging Asian economies

The Organisation for Economic Co-operation and Development has completed its first Latin American Economic Outlook.

OECD’s secretary general, Angel Gurría, will present the OECD development centre’s Latin American outlook on November 7, 2007.

The outlook reviews specific economic challenges facing Latin America: improving public finances, pension reform, boosting competition in the telecoms sector and reinforcing competitiveness with the emerging Asian economies.

The outlook makes recommendations for reforms in order to reduce poverty and inequality while strengthening democracy and unleashing Latin America’s huge potential for growth.

The OECD said the outlook represents a further step in growing co-operation with Latin America. The region is at the forefront of OECD’s policy of closer collaboration with the major emerging world economies. Chile is currently in membership discussions with the Organisation while Brazil has been offered enhanced engagement with a view to possible membership.