The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
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.