Greek prime minister Alexis Tsipras has good reason to smile. He's receiving high praise from Angel Gurria, the OECD general secretary, for his country's impressive progress and reforms.
Wealthy nations are experiencing an unprecedented wage stagnation phenomenon, a fresh OECD employment report has said. The organization noted the current trend occurred despite falling jobless numbers.
Eurozone finance ministers negotiated late into the night to bring an end to an eight-year bailout for Greece. Debt relief and a big cash payout will form part of a broad exit deal.
The prospect of increasing trade frictions is threatening the global growth outlook, the OECD has said in its latest biannual forecast. Nonetheless, it expects unemployment to hit a 40-year low in 2019.
Colombia is set to be the third Latin American country in the Paris-based economic group. President Juan Manuel Santos praised the membership as key to the country's efforts to modernize.
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