Colombia: Report on the Observance of Standards and Codes-Fiscal Transparency Module

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 128

Publication date: May 2003

ISBN: 9781451808810

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Topics covered in this book

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Economics- Macroeconomics , Public Finance , ISCR , CR , organic law , executive branch , public finance , government On Line , personnel administration , president of the republic , public servant , fiscal year , private sector , debt service , annual budget , cash basis , balance sheet , fiscal policy , government statistics , Budget planning and preparation , Public sector

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Grenada

Republic of Congo : 2001 Article IV

Summary

This report examines the Observance of Standards and Codes on Fiscal Transparency for Colombia. Colombia has made considerable progress in improving transparency in public finances. Major initiatives include: adoption of the Presidential Anti-Corruption Plan; improvement in the management of public banks; clarification of the expenditure responsibilities and resources among different levels of government; and introduction of modern accounting procedures. The legislative agenda now under way could lead to the adoption of important standards in the area of fiscal responsibility and transparency, as well as the integration and strengthening of territorial legislation.