Process for producing ethylene glycol and methanol

The process for making the products ethylene glycol, methanol, and derivatives thereof directly from the reaction of hydrogen and carbon monoxide which comprises reacting a mixture comprising oxides of carbon and hydrogen in the homogeneous liquid phase containing an effective amount of a cobalt-containing compound and an organosilicon compound having at least one hydrogen bonded to silicon wherein said process is carried out for a period of time at a temperature and pressure which cause the carbon monoxide and hydrogen to react to produce, ethylene glycol, methanol, and derivatives thereof.