We present a method for performing global astrometry with the proposed Orbiting Stellar Interferometer. Because it is dedicated to wide-angle astrometry, OSI has the intrinsic capabilities to achieve global astrometry, even though it doesn't measure directly relative angles between pairs of stars, such as HIPPARCOS. In this paper, a time-independent model is shown, leading to a coherent solution for the positions of reference stars on the whole sky. With an initial measurement accuracy of 10 micro-arcseconds, corresponding to an accuracy of 340 picometers in the knowledge of the delay-line position of the observing interferometer, the consistent least-squares solution gives an accuracy by which the astrometric parameters can be obtained around 2 - 3 micro-arcseconds.