## 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](https://www.imf.org/en/publications/cr/issues/2016/12/31/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-module-update-18449)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-module-update-18449/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-module-update-18449/index.json)
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## Bibliographic details
- Published: August 1, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451807639.002

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### 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

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## Content in this bundle

- **Chile: Report on Observance of Standards and Codes—Fiscal Transparency Module—Update**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/chile-report-on-observance-of-standards-and-codes-fiscal-transparency-module-update-18449_