The Organization for Economic Co-operation and Development

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The Organization for Economic Cooperation and Development (OECD) is an intergovernmental economic organization founded after World War II, in 1961. It has 36 member States, which, most of them, are high-income economies with a very high Human Development Index.



The OECD was created after European leaders realized that the best way to ensure lasting peace was to encourage co-operation and reconstruction, rather tan punish the defeated. It is for this that its main purpose is to stimulate economic progress and world trade.

Its official languages are English and French and the headquarters of the organization are in Paris. This is how it looks like:


The Secretary-General is José Ángel Gurría, the Deputy Secretary-General are Ludger Schuknecht and Masamichi Kono.

OECD, as an international organization, is financed by its member States. Its Budget for last year was €374 million.




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Creation of the OECD

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In 1948, the Organization for European Economic Cooperation (OEEC) was originally established to run the Marshall Plan. It is an US-financial plan for reconstruction of the European continent which was devastated by the war. Individual governments started recognizing the interdependence of their economies paving the way for cooperation which has changed Europe since then. After the success of the OEEC, Canada and the US joined the organization with the signature of the new OECD. It is with this signature when the OECD is officially born, on 30th September 1961. After this, other countries started joining such as Japan in 1964. 
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Organisms of the OECD and their functions

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Every international organisation has its own organisms that explain its functioning. In the OECD we can find three main organisms that rule the institution: 1. THE COUNCIL It has the decision-making power and it is composed by one representative of each Member State, plus a representative of the European Commission. The council meets regularly and the decisions are taken by consensus. (1) Once a year the OECD Council meets at ministerial level (Ministers or State Secretaries of Economy or Foreign Affairs) to set the priorities of the OECD. ( 1 ) 2. THE COMMITTEES Representatives of the member States of the OECD meet in specialized in committees to review progress in specific areas such as economics, trade… There are about 250 committees and about 40,000 senior officials from national administrations go to OECD committee meetings every year to discuss to contribute the work done by the Secretariat. 3. THE SECRETARIAT Headed by Angel Gurría ( 2
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Budget of the OECD

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OECD is funded by its member States, which contribution varies depending on the size of each State's economy. Countries can also make donations to the institution to support outputs in the OECD programme of work. Members' contributions were up to 374 million €, distributed in the way shown below. How is the budget managed? The size of the OECD's budget and its programme are determined on a two-year basis by member countries. The Organisation's planning, budgeting and management are organised on a results-based system. A Supreme Audit Institution of an OECD member externally audits the accounts and financial management. In 2017, the auditor was the French "Cour de Comptes"(Court of Audit). 
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