Colombia: Fiscal Transparency Evaluation

August 2, 2018

Preview Citation

Format: Chicago

Colombia: Fiscal Transparency Evaluation, (USA: International Monetary Fund, 2018) accessed September 19, 2024

Summary

This fiscal transparency evaluation (FTE) report assesses fiscal transparency practices in Colombia against the first three pillars of the IMF’s Fiscal Transparency Code. Fiscal forecasting and budgeting—Pillar II—is the strongest area in Colombia’s FTE. Half of the related indicators are advanced, mostly in the areas of: (1) orderliness of the legislative process and the adequacy of powers and information available to Congress; (2) credibility of economic and fiscal forecasts; and (3) medium-term forecasts and policy orientation. Fiscal reporting—Pillar I—and fiscal risk analysis and management—Pillar III—also reveal clear strengths. Fiscal reporting practices are advanced in terms of the coverage of fiscal institutions in fiscal reports and timeliness of annual financial statements.

Subject: Budget planning and preparation, Expenditure, Financial statements, Fiscal reporting, Fiscal risks, Macroeconomic and fiscal forecasts, Public financial management (PFM)

Keywords: Annual budget, Balance sheet, Budget planning and preparation, Central government, CR, Debt management, Europe, Financial statements, Fiscal policy, Fiscal risks, ISCR, Macroeconomic and fiscal forecasts, Real GDP

Publication Details

Pages:

104
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/250
Stock No:

1COLEA2018004
ISBN:

9781484372159
ISSN:

1934-7685

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