Chile: Fiscal Transparency Evaluation

IMF Staff Country Reports, November 11, 2021

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Chile: Fiscal Transparency Evaluation

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Bibliographic details

• Published: November 11, 2021
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781616350703.002

Assessment summary

• The report assesses Chile’s fiscal transparency practices against the IMF’s Fiscal Transparency Code.
• Chile’s practices meet the principles of the code at a good or advanced level for 21 out of the 36 principles.
• On a further nine principles, Chile meets the basic standard of practice.
• Overall performance is described as a good score compared to the average for Latin American Countries and Emerging Market Economies.
• The report finds fiscal forecasting and budgeting to be very strong, followed by fiscal reporting; fiscal risk analysis and management show more mixed results.
• Further improvements could be achieved relatively easily through the publication of some internal analyses or through more timely or user-friendly publication of already available information.

Key findings

• Strengths:
  • Fiscal forecasting and budgeting: rated very strong.
  • Fiscal reporting: strong performance following forecasting and budgeting.
• Weaknesses / mixed results:
  • Fiscal risk analysis and management: mixed results, with room for improvement.
• Comparisons:
  • Chile’s overall score is good relative to Latin American Countries and Emerging Market Economies.

Policy implications and recommended actions

• Publish internal analyses that are currently not public to increase transparency.
• Improve timeliness and user-friendliness of already available information to enhance public access and utility.
• Strengthen fiscal risk analysis and management practices to close gaps relative to forecasting, budgeting, and reporting strengths.

Publication and metadata

• Publication date: November 11, 2021
• Pages: 110
• Series: Country Report No. 2021/241
• Issue: 241
• Volume: 2021
• Stock No: 1CHLEA2021005
• DOI: https://doi.org/10.5089/9781616350703.002
• ISBN: 9781616350703
• ISSN: 1934-7685
• Subjects: Budget planning and preparation, Economic and financial statistics, Expenditure, Financial statements, Fiscal risks, Government finance statistics, International organization, Monetary policy, Public financial management (PFM)
• Keywords: Africa, Budget planning and preparation, Chilean authorities, Financial statements, Fiscal risks, Global, Government finance statistics, government finance statistics manual, IMF mission team, IMF team, IMF's Fiscal Affairs Department

Chile: Fiscal Transparency Evaluation, IMF Staff Country Reports (2021), Country Report No. 2021/241, November 11, 2021.

Content in this bundle

• Chile: Fiscal Transparency Evaluation; IMF Country Report No. 21/241; October 2021
  • Chile: Fiscal Transparency Evaluation; IMF Country Report No. 21/241; October 2021 (Markdown version)
  • Chile: Fiscal Transparency Evaluation; IMF Country Report No. 21/241; October 2021 (PDF)