Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module: Update
IMF Staff Country Reports, August 1, 2005
Source details
- Canonical URL
- Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module: Update
Other formats
Bibliographic details
- Published: August 1, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451807639.002
Summary and main findings
- The paper presents an update to the Report on the Observance of Standards and Codes on Fiscal Transparency for Chile.
- Chile has completed the first stage of the migration of its fiscal statistics to the IMF’s Government Finance Statistics Manual (GFSM 2001).
- A main result of this migration is the production of the operating statement, corresponding to flow transactions, for:
- the central government,
- the general government, and
- the consolidated public enterprises.
- The treatment of interest payments on inflation-indexed bonds and on debt owed to the central bank differs from that in GFSM 2001.
Policy-relevant observations
- Migration to GFSM 2001 has enabled the production of flow-based operating statements across major public sectors, supporting greater fiscal transparency.
- Remaining differences in treatment of specific interest payments (on inflation-indexed bonds and on debt owed to the central bank) indicate areas where full GFSM 2001 consistency has not yet been achieved.
Technical scope and classification
- Subject: Contingent liabilities, Copper, Fiscal transparency, Government finance statistics, PFM legal and regulatory frameworks
- Keywords: CR, expenditure commitment, GFSM 2001, government, government Finance Statistics Manual, ISCR, ROSC, state copper company, tax expenditures estimate, transaction, treasury balance
Content in this bundle
- Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module—Update