Colombia: Selected Issues Paper

Publication Date: June 23, 2014
Electronic Access: Free Full text (PDF file size is 1,646KB).
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Summary: Colombia has a strong fiscal framework that prescribes a prudent, albeit challenging, fiscal consolidation over the medium term. A number of changes have taken place over the past decade and a half to strengthen Colombia’s fiscal framework, including the introduction of a structural balance rule at the central government level. This rule prescribes a path of adjustment over the medium-term, which would compare well to standard benchmarks on the intertemporal use of fiscal revenue from resource wealth. However, achieving the adjustment will be challenging. An increase in revenues could help achieve the consolidation envisioned in the fiscal framework without unprecedented or undesirable reductions in expenditure.
Series: Country Report No. 14/167
Subject(s): Spillovers | Fiscal policy | Natural resources | Manufacturing sector | Real effective exchange rates | Housing prices | Banking sector | International banks | Stress testing | Bank supervision | Selected issues | Colombia

Publication Date: June 23, 2014
ISBN/ISSN: 9781498302128/1934-7685 Format: Paper
Stock No: 1COLEA2014002 Pages: 86
US$18.00 (Academic Rate:
US$18.00 )
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