{
  "title": "Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module: Update",
  "publication": "IMF Staff Country Reports, August 1, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-module-update-18449",
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  "summary": "This 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).",
  "sections": [
    {
      "heading": "Summary and main findings",
      "content": "- The paper presents an update to the Report on the Observance of Standards and Codes on Fiscal Transparency for Chile.\n- Chile has completed the first stage of the migration of its fiscal statistics to the IMF’s Government Finance Statistics Manual (GFSM 2001).\n- A main result of this migration is the production of the operating statement, corresponding to flow transactions, for:\n  - the central government,\n  - the general government, and\n  - the consolidated public enterprises.\n- The treatment of interest payments on inflation-indexed bonds and on debt owed to the central bank differs from that in GFSM 2001."
    },
    {
      "heading": "Policy-relevant observations",
      "content": "- Migration to GFSM 2001 has enabled the production of flow-based operating statements across major public sectors, supporting greater fiscal transparency.\n- 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."
    },
    {
      "heading": "Technical scope and classification",
      "content": "- Subject: Contingent liabilities, Copper, Fiscal transparency, Government finance statistics, PFM legal and regulatory frameworks\n- Keywords: CR, expenditure commitment, GFSM 2001, government, government Finance Statistics Manual, ISCR, ROSC, state copper company, tax expenditures estimate, transaction, treasury balance\n\n---\n\n Content in this bundle\n\n- Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module—Update\n  - Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module—Update (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module—Update (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-module-update-18449/index.md)",
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    "Published: August 1, 2005",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451807639.002",
    "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 treatment of interest payments on inflation-indexed bonds and on debt owed to the central bank differs from that in GFSM 2001.",
    "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.",
    "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",
    "**Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module—Update**"
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