## Chile: Report on Observance of Standards and Codes—Fiscal Transparency

_IMF Staff Country Reports, August 5, 2003_

## Source details

**Canonical URL:** [Chile: Report on Observance of Standards and Codes—Fiscal Transparency](https://www.imf.org/en/publications/cr/issues/2016/12/30/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-16775)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/30/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-16775/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/30/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-16775/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/30/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-16775/bundle-manifest.json)

## Bibliographic details
- Published: August 5, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451807516.002

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### Summary and key assessment
- The Chilean government has succeeded in constructing and disseminating a clear view of its objectives and targets, both at the macroeconomic level and for individual budget programs.
- Government accountability to congress and the public is demonstrably being strengthened.
- A general reform challenge for Chile will be to institutionalize the many recent advances in transparency, so that they become permanent components of fiscal management.
- The flexibility inherent in such instruments as protocols and time-bound laws may contribute importantly to speedy and effective policy responses.

### Major findings
- Clear articulation and dissemination of objectives and targets at:
  - the macroeconomic level, and
  - for individual budget programs.
- Strengthened government accountability to congress and the public.
- Recent advances in fiscal transparency exist but require institutionalization to become permanent.

### Policy implications and recommendations
- Institutionalize recent transparency advances to embed them as permanent components of fiscal management.
- Leverage flexible instruments (e.g., protocols and time-bound laws) to allow speedy and effective policy responses while ensuring durability of reforms.

### Thematic coverage (as described)
- Budget planning and preparation
- Economic sectors
- Fiscal policy
- Fiscal stance
- Public debt
- Public enterprises
- Public financial management (PFM)
- Public sector

### Keywords (as provided)
- annual budget
- Budget planning and preparation
- central bank
- CR
- final accounts
- financial statement
- fiscal policy
- Fiscal stance
- Global
- government accounting base
- government accounting basis
- government equity holding
- ISCR
- management system
- Public enterprises
- Public sector
- stabilization fund
- state authorities

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-16775_