A process for the production of methanol comprising contacting a gaseous mixture of carbon monoxide and hydrogen with a catalytic system, obtainable by combination of:component (a): a salt containing a cation of an element of Group VIII of the Periodic Table of the Elements,component (b): an alcohol, andcomponent (c): an alcoholate derived from an alkali metal or from an alkaline earth metal,and activation the combined components, and a catalyst system to be used in this process.