Abstract
2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia
Fund Relations
(As of March 31, 2017)
Membership status: Joined: December 27, 1945; Article VIII.
General Resources Account:
General Resources Account:
| SDR million | Percent Quota | |
|---|---|---|
| Quota | 2,044.50 | 100.00 |
| Fund holding of currency (Exchange rate) | 2,005.40 | 98.09 |
| Reserve position | 39.11 | 1.91 |
General Resources Account:
| SDR million | Percent Quota | |
|---|---|---|
| Quota | 2,044.50 | 100.00 |
| Fund holding of currency (Exchange rate) | 2,005.40 | 98.09 |
| Reserve position | 39.11 | 1.91 |
SDR Department:
SDR Department:
| SDR million | Percent Quota | |
|---|---|---|
| Net cumulative allocation | 738.32 | 100.00 |
| Holdings | 694.00 | 94.00 |
SDR Department:
| SDR million | Percent Quota | |
|---|---|---|
| Net cumulative allocation | 738.32 | 100.00 |
| Holdings | 694.00 | 94.00 |
Outstanding Purchases and Loans: None.
Latest Financial Arrangements:
Latest Financial Arrangements:
| In million of SDR | ||||
|---|---|---|---|---|
| Type | Date of Arrangement | Expiration Date | Amount Approved | Amount Drawn |
| FCL | Jun 13, 2016 | Jun 12, 2018 | 8,180.00 | 0.00 |
| FCL | Jun 17, 2015 | Jun 12, 2016 | 3,870.00 | 0.00 |
| FCL | Jun 24, 2013 | Jun 16, 2015 | 3,870.00 | 0.00 |
Latest Financial Arrangements:
| In million of SDR | ||||
|---|---|---|---|---|
| Type | Date of Arrangement | Expiration Date | Amount Approved | Amount Drawn |
| FCL | Jun 13, 2016 | Jun 12, 2018 | 8,180.00 | 0.00 |
| FCL | Jun 17, 2015 | Jun 12, 2016 | 3,870.00 | 0.00 |
| FCL | Jun 24, 2013 | Jun 16, 2015 | 3,870.00 | 0.00 |
Projected Payments to the Fund (in SDR million):
Projected Payments to the Fund (in SDR million):
| forthcoming | |||||
|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | |
| Principal | |||||
| Charges/interest | 0.16 | 0.21 | 0.21 | 0.21 | 0.21 |
| Total | 0.16 | 0.21 | 0.21 | 0.21 | 0.21 |
Projected Payments to the Fund (in SDR million):
| forthcoming | |||||
|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | |
| Principal | |||||
| Charges/interest | 0.16 | 0.21 | 0.21 | 0.21 | 0.21 |
| Total | 0.16 | 0.21 | 0.21 | 0.21 | 0.21 |
Implementation of HIPC Initiative: Not applicable.
Implementation of Multilateral Debt Relief Initiative (MDRI): Not applicable.
Exchange Rate: Arrangement: Colombia has a floating exchange rate regime (de jure: free floating; de facto: floating) and maintains an exchange restriction subject to Fund approval under Article VIII arising from the special regime for the hydrocarbon sector (see IMF Country Report No. 13/35 for details).
Article IV Consultation: The last Article IV Consultation was concluded on May 5, 2016 (IMF Country Report No. 16/129).
FSAP participation and ROSCs: The FSAP took place in 2000 and was updated in 2008 and 2013. A data ROSC took place in 2006 and a fiscal ROSC in 2003.
Technical Assistance:
Technical Assistance:
| Department | Time of Delivery | Purpose |
|---|---|---|
| STA | Jan. 14 | National Accounts Statistics |
| STA | Jan. 14 | Consumer Prices/Producer Price |
| MCM | Jul. 14 | Bank Supervision & Regulations |
| FAD | Jul. 14 | RA Gap |
| FAD | Jun. 14 | Customs Administration |
| FAD | Feb. 15 | Tax Policy |
| FAD | Nov. 14 | Public Financial Management |
| FAD | Sep. 14 | Tax and Customs Administration |
| FAD | Oct. 14 | Tax Administration 2012 Tax reform and New |
| FAD | Nov. 14 | Challenges for Tax Policy Enhancing the Macroprudential Stress Testing Framework of Banco |
| MCM | Jan. 15 | de la Republica. Discussion of the 2017 structural |
| FAD | Aug. 16 | tax reform |
| FAD | Feb. 17 | Revenue Administration |
| FAD | Mar. 17 | Fiscal Transparency Assessment |
Technical Assistance:
| Department | Time of Delivery | Purpose |
|---|---|---|
| STA | Jan. 14 | National Accounts Statistics |
| STA | Jan. 14 | Consumer Prices/Producer Price |
| MCM | Jul. 14 | Bank Supervision & Regulations |
| FAD | Jul. 14 | RA Gap |
| FAD | Jun. 14 | Customs Administration |
| FAD | Feb. 15 | Tax Policy |
| FAD | Nov. 14 | Public Financial Management |
| FAD | Sep. 14 | Tax and Customs Administration |
| FAD | Oct. 14 | Tax Administration 2012 Tax reform and New |
| FAD | Nov. 14 | Challenges for Tax Policy Enhancing the Macroprudential Stress Testing Framework of Banco |
| MCM | Jan. 15 | de la Republica. Discussion of the 2017 structural |
| FAD | Aug. 16 | tax reform |
| FAD | Feb. 17 | Revenue Administration |
| FAD | Mar. 17 | Fiscal Transparency Assessment |
World Bank Relations1
The World Bank Group Country Partnership Framework (CPF) for FY 16–21 was discussed by the Board on April 7, 2016. The new CPF is well aligned with both the Government’s National Development Plan and the Bank Group’s twin goals. Informed by a Systematic Country Diagnostic, the demand expressed by Colombian authorities and the WBG’s comparative advantage in Colombia, the CPF selectively focuses on three strategic areas for engagement: (i) fostering balanced territorial development; (ii) enhancing social inclusion and mobility through improved service delivery; and (iii) supporting fiscal sustainability and productivity. Support for the peace building process cuts across all areas of Bank Group engagement, from land property rights in rural areas, for instance, to improving justice service delivery and access to justice.
The CPF proposes a flexible approach enabling ready adjustments to respond to changing client needs and macroeconomic developments. In implementing the new CPF the World Bank Group will continue to provide integrated packages of services spanning World Bank, IFC and MIGA contributions to address Colombia’s ambitious development agenda with complementary financial, knowledge and convening services. In addition to providing programmatic knowledge services, a large number of South-South Knowledge Exchanges have been organized by the Bank under the different engagement areas. These include a number of study tours for high-ranking government officials to and from Israel, Pakistan, Indonesia, Vietnam and Peru, to learn more about social assistance programs, health policies, conditional cash transfers and a variety of other issues.
As of March 2016, Colombia is IBRD’s 7th largest Bank borrower with US$9.6 billion in outstanding debt. The active portfolio is composed of 11 IBRD and 2 stand-alone GEF projects totaling US$3.6 billion in net commitments. Colombia also has a considerable Trust Fund (TF) portfolio amounting to US$36 million, not including Global Environment Facility (GEF) projects, and representing a variety of sectors. In FY 16, two Development Policy Financing (DPF) operations of US$700 million each for Sustainable Development and Sustained Growth and Income Convergence, respectively, were approved. Lending in FY 17 includes two DPF operations in the areas of Territorial Development (US$800 million; approved December 2016) and Fiscal and Growth (US$600 million; approved March 16), along with two Investment Project Financing (IPF) operations (both already approved) in the water and tertiary education sectors (the former supporting Plan Pazcifico) with a combined total of US$287 million. The FY 18 pipeline, detailed further below, amounts to US$1.5 billion and includes 2 DPFs for US$500 million each, 3 IPFs in the total amount of US$340 million, and 2 guarantees whose total IBRD portion is US$162 million. A GEF-funded Additional Financing operation is also anticipated in FY 18, to consolidate forest and biodiversity conservation efforts in the Amazon. A Multi-Donor Trust Fund is currently under implementation to support the peace and post-conflict initiatives. Current overall contributions from the Swedish Development Cooperation and the WB-administered State and Peace Building Fund are at US$6.5 million.
IFC’s committed portfolio in Colombia stands at a near record US$1,087.2 million in 65 projects. It is the 10th largest portfolio worldwide and 3rd regionally. The top sectors are: finance and insurance (58 percent), collective investment vehicles (12 percent), transportation and warehousing (8 percent) and extractives (6 percent). In terms of products, 52 percent is in loans, 40 percent in equity, and the balance in guarantees, risk management and mix-type products. Participants’ and IFC Asset Management Company (AMC) committed balances total US$164.0 million and US$543.3 million, respectively. IFC Advisory in Colombia is active in Public-Private Partnerships (PPPs) (schools, hospitals, physical infrastructure), corporate governance, collateral registries, microfinance and sustainable energy finance, royalties management, sustainable community investment, investment policy promotion, Cities, taxes, and green building codes. So far in FY 17, IFC has committed 5 projects for US$363.7 million, of which US$214.1 million is in mobilization, including US$183 million for Colombian Roads, US$117 million for Bancolombia green bonds subscription, US$30 million for Unijaveriana modernization and expansion, US$30 million parallel loan mobilized for Banco Pichincha, and US$2.4 million (IFC and AMC) Pacific Infrastructure (port). In December 2016, IFC eclipsed the US$8 billion mark in total historical investment commitments for own account and mobilization.
MIGA current portfolio in Colombia stands close to US$100 million. MIGA coverage is entirely in the financial service sector across two projects: (i) Findeter, the first Non-Honoring of a Financial Obligation of a State-Owned Enterprise (US$95 million); and (ii) ProCredit Holding, the insurance of mandatory reserve at the Central Bank of Colombia (US$2 million). The Findeter project was issued in December 2015 and supports the expansion of lending operations by Findeter to intermediary financial institutions for urban infrastructure development projects in a number of cities across Colombia; tenor is 10 years. The ProCredit Holding project was issued in December 2010, with a focus on banks’ capital optimization, i.e., reduction of risk weighting for mandatory reserves on a group’s consolidated balance sheet thereby reducing capital provisioning; tenor is 10 years.
Inter-American Development Bank Relations1
Colombia’s current Country Strategy covers the period 2015–18 and identifies three policy areas of dialogue with the government: productivity, effectiveness of public management and social mobility. These areas are part of a comprehensive vision for the development process of the country, aimed at a vision where the country can achieve a path of sustainable growth and become a developed country in the long run. There are cross-cutting requirements associated with this objective and to growth and overcome conditions of poverty and inequity, which are: (i) increase tax-fiscal revenues in order to ensure a sizable flow of public goods, and (ii) recognizing both infrastructure development, and human and social capital development as necessary factors for greater productivity and strengthen the middle class.
The sovereign guarantee lending envelope (approvals) under the current Strategy is estimated at US$890 million in 2015 and US$800 million per year during 2016–18 term, which total US$3.3 billion for the years 2015 to 2018. In 2016, the Bank approved 5 operations for US$970 million in sovereign guarantee operations, of which US$800 million in Policy Based Loans.
As of January 2017, the Bank portfolio is currently composed of 27 sovereign guarantee operations, totaling US$2.1 billion, with a disbursed percentage of 38 percent. Operations are concentrated in infrastructure (58 percent), governance (17 percent), Climate Change and Sustainable Development (22 percent) and social development and integration (20 percent). The IDB is the second multilateral creditor with a total debt owed of US$7.3 billion (41 percent of Colombia’s total multilateral debt). The non-reimbursable technical cooperation portfolio includes 53 operations, with an approved value of US$54.8 million.
The current portfolio of private sector initiatives (non-sovereign guarantee) in Colombia totals US$577 million. The Inter-American Investment Corporation has a portfolio of US$367 million.
Colombia: Sovereign Loan Portfolio
Colombia: Sovereign Loan Portfolio
| Number of Operations | Current Approved US$ million | Disbursement (Percent) | |
|---|---|---|---|
| Infrastructure | 11 | 1224 | 38.2 |
| Integration and Trade | 1 | 21 | 46.6 |
| Climate change and sustainable development | 4 | 464 | 32.3 |
| Institutions for development | 10 | 359 | 54.4 |
| Social | 1 | 42 | 37.3 |
| TOTAL | 27 | 2,110 | 38 |
Colombia: Sovereign Loan Portfolio
| Number of Operations | Current Approved US$ million | Disbursement (Percent) | |
|---|---|---|---|
| Infrastructure | 11 | 1224 | 38.2 |
| Integration and Trade | 1 | 21 | 46.6 |
| Climate change and sustainable development | 4 | 464 | 32.3 |
| Institutions for development | 10 | 359 | 54.4 |
| Social | 1 | 42 | 37.3 |
| TOTAL | 27 | 2,110 | 38 |
Statistical Issues
(As of April 12, 2017)
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is adequate for surveillance. | |
| National Accounts: The National Department of Statistics (DANE) is responsible for the compilation of the national accounts, although the Banco de la República (BdR) compiles the financial accounts. Annual and quarterly estimates of GDP by the production and the expenditure approaches use 2005 as the reference year for the annually chained volume measures. GDP compilation conforms to the methodological recommendations of the System of National Accounts 1993 (1993 SNA) and some recommendations of the 2008 SNA. Development has recently begun, collaboratively between DANE and BdR, of the quarterly accounts for institutional sectors, expected to be completed by mid-2018. DANE also publishes a monthly indicator of economic activity Índice Mensual de Actividad Económica de Colombia (IMACO). | |
| Price Statistics: DANE is also responsible for price statistics, and currently compiles and disseminates the consumer price index (CPI) and the producer price index (PPI). The basket and weights of the CPI have not been updated since 2008 and are based on the Income-Expenditure Survey (2006–07). These CPI weights are out of date and may not reflect current expenditure patterns. DANE disseminated an updated and revised PPI in 2015. There is need to expand PPI coverage to include additional economic activities. | |
| Government Finance Statistics: The Ministry of Finance and Public Credit (MFPC) is responsible for the compilation of public revenue, expenditure, and financing data. The Colombian authorities have reaffirmed their commitment to adopt the GFSM 2001 framework, enhance inter-institutional coordination, and increase the resources allocated to compiling government finance statistics. While progress has been made, and the authorities submit comprehensive GFS to the IMF’s Statistics Department, there are concerns regarding data quality. The latest reported data has been published in the Government Finance Statistics Yearbook (GFSY). The priority is to improve data compilation and consistency of time series data, and correct unusual data patterns. Next steps include: improving classification of revenue and expense, consolidation, adopting a common list of public sector entities, and disseminating high-frequency data on a national and international level. The General Accounting Office (GAO) developed a single accounting framework for the public sector based on International Public Sector Accounting Standards and maintains a financial management information system containing accounting information of all public sector units. The MFPC’s Macroeconomic Policy Unit and the GAO developed a bridge table that converts national accounting classification to the GFSM 2001 framework to compile GFS on accrual and cash bases. | |
| Monetary and Financial Statistics: The Bank of the Republic (BdR) reports the Standardized Report Forms (SRFs) 1SR for BdR, 2SR for the other depository corporations (ODCs), and 5SR for monetary aggregates for publication in the IMF’s International Financial Statistics (IFS) on a monthly basis with a lag of two to 5 months. The Superintendencia Financiera de Colombia (SFC) compiles data on 4SR for other financial corporations (OFC). However, the last reported OFC data are for December 2014. This delay in reporting is due to an ongoing review of the SFC and efforts to map the former to the International Financial Reporting Standards (IFRS). The classification of financial instruments and economic sectors follows the MFSM with some exceptions. For December 2001 through November 2004, some financial assets and liabilities where economic sectorization is unavailable are allocated to the economic sector having the largest volume of transactions in the category and accrued interest on various financial instruments is included in Other Items (Net) rather than in the outstanding amounts of the financial assets and liabilities. | |
| Financial Sector Surveillance: Colombia is currently reporting some of the core Financial Soundness Indicators (FSI). | |
| External Sector Statistics: The BdR is in charge of compiling and disseminating quarterly balance of payments and international investment position (IIP) statistics, which are produced on a sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) basis. Improved surveys, particularly in the services sector, have enhanced the coverage of balance of payments statistics. Recording of transactions in securities between residents and nonresidents in secondary markets could be improved. The BdR also monthly compiles and disseminates the Data Template on International Reserves and Foreign Currency Liquidity, reports semi-annual data to the Coordinated Portfolio Investment Survey (CPIS), and submits quarterly external debt statistics to the Quarterly External Debt Statistics (QEDS) database. However, Colombia has not reported data to the Coordinated Direct Investment Survey (CDIS) yet. | |
| II. Data Standards and Quality | |
| Colombia subscribes to the Special Data Dissemination Standard (SDDS) and metadata are posted on the Fund’s Dissemination Standards Bulletin Board (DSBB). | A data ROSC was published in October 2006. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is adequate for surveillance. | |
| National Accounts: The National Department of Statistics (DANE) is responsible for the compilation of the national accounts, although the Banco de la República (BdR) compiles the financial accounts. Annual and quarterly estimates of GDP by the production and the expenditure approaches use 2005 as the reference year for the annually chained volume measures. GDP compilation conforms to the methodological recommendations of the System of National Accounts 1993 (1993 SNA) and some recommendations of the 2008 SNA. Development has recently begun, collaboratively between DANE and BdR, of the quarterly accounts for institutional sectors, expected to be completed by mid-2018. DANE also publishes a monthly indicator of economic activity Índice Mensual de Actividad Económica de Colombia (IMACO). | |
| Price Statistics: DANE is also responsible for price statistics, and currently compiles and disseminates the consumer price index (CPI) and the producer price index (PPI). The basket and weights of the CPI have not been updated since 2008 and are based on the Income-Expenditure Survey (2006–07). These CPI weights are out of date and may not reflect current expenditure patterns. DANE disseminated an updated and revised PPI in 2015. There is need to expand PPI coverage to include additional economic activities. | |
| Government Finance Statistics: The Ministry of Finance and Public Credit (MFPC) is responsible for the compilation of public revenue, expenditure, and financing data. The Colombian authorities have reaffirmed their commitment to adopt the GFSM 2001 framework, enhance inter-institutional coordination, and increase the resources allocated to compiling government finance statistics. While progress has been made, and the authorities submit comprehensive GFS to the IMF’s Statistics Department, there are concerns regarding data quality. The latest reported data has been published in the Government Finance Statistics Yearbook (GFSY). The priority is to improve data compilation and consistency of time series data, and correct unusual data patterns. Next steps include: improving classification of revenue and expense, consolidation, adopting a common list of public sector entities, and disseminating high-frequency data on a national and international level. The General Accounting Office (GAO) developed a single accounting framework for the public sector based on International Public Sector Accounting Standards and maintains a financial management information system containing accounting information of all public sector units. The MFPC’s Macroeconomic Policy Unit and the GAO developed a bridge table that converts national accounting classification to the GFSM 2001 framework to compile GFS on accrual and cash bases. | |
| Monetary and Financial Statistics: The Bank of the Republic (BdR) reports the Standardized Report Forms (SRFs) 1SR for BdR, 2SR for the other depository corporations (ODCs), and 5SR for monetary aggregates for publication in the IMF’s International Financial Statistics (IFS) on a monthly basis with a lag of two to 5 months. The Superintendencia Financiera de Colombia (SFC) compiles data on 4SR for other financial corporations (OFC). However, the last reported OFC data are for December 2014. This delay in reporting is due to an ongoing review of the SFC and efforts to map the former to the International Financial Reporting Standards (IFRS). The classification of financial instruments and economic sectors follows the MFSM with some exceptions. For December 2001 through November 2004, some financial assets and liabilities where economic sectorization is unavailable are allocated to the economic sector having the largest volume of transactions in the category and accrued interest on various financial instruments is included in Other Items (Net) rather than in the outstanding amounts of the financial assets and liabilities. | |
| Financial Sector Surveillance: Colombia is currently reporting some of the core Financial Soundness Indicators (FSI). | |
| External Sector Statistics: The BdR is in charge of compiling and disseminating quarterly balance of payments and international investment position (IIP) statistics, which are produced on a sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) basis. Improved surveys, particularly in the services sector, have enhanced the coverage of balance of payments statistics. Recording of transactions in securities between residents and nonresidents in secondary markets could be improved. The BdR also monthly compiles and disseminates the Data Template on International Reserves and Foreign Currency Liquidity, reports semi-annual data to the Coordinated Portfolio Investment Survey (CPIS), and submits quarterly external debt statistics to the Quarterly External Debt Statistics (QEDS) database. However, Colombia has not reported data to the Coordinated Direct Investment Survey (CDIS) yet. | |
| II. Data Standards and Quality | |
| Colombia subscribes to the Special Data Dissemination Standard (SDDS) and metadata are posted on the Fund’s Dissemination Standards Bulletin Board (DSBB). | A data ROSC was published in October 2006. |
Colombia: Table of Common Indicators Required for Surveillance
(As of March 24, 2017)
Daily (D); Weekly (W); Monthly (M); Bi-monthly (B); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The GG consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Reflects the assessment provided in the data ROSC published in October 2006 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).
Same as Footnote 8, except referring to international standards concerning (respectively) source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.
Colombia: Table of Common Indicators Required for Surveillance
(As of March 24, 2017)
| Date of Latest Observation | Date Received | Frequency of Data1 | Frequency of Reporting1 | Frequency of Publication1 | Memo Items: | ||
| Data Quality – Methodological Soundness8 | Data Quality – Accuracy and Reliability9 | ||||||
| Exchange Rates | Mar. 24, 2017 | Mar. 24, 2017 | D | D | D | ||
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities2 | Feb. 2017 | Mar. 2017 | M | M | M | ||
| Reserve/Base Money | Mar. 2017 | Mar. 2017 | W | W | W | LO, O, LO, LO | O, O, O, O, O |
| Broad Money | Mar. 2017 | Mar. 2017 | W | W | W | ||
| Central Bank Balance Sheet | 201420142012 Jan. 2017 | Mar. 2017 | W | W | W | ||
| Consolidated Balance Sheet of the Banking System | Nov. 2016 | Mar. 2017 | M | M | M | ||
| Interest Rates3 | Mar. 23, 2017 | Mar. 24, 2017 | D | D | D | ||
| Consumer Price Index | Feb. 2017 | Mar. 2017 | M | M | M | ||
| Revenue, Expenditure, Balance and Financing Composition4 – General Government (GG)5 | Q4 2016 | Mar. 2017 | Q | Q | Q | O, O, LO, O | LO, O, O, O, NO |
| Revenue, Expenditure, Balance and Composition of Financing4 – Central Government | Nov. 2017 | Mar. 2017 | M | M | M | ||
| Stocks of Central Government and Central Government-Guaranteed Debt6 | Feb. 2017 | Mar. 2017 | M | M | M | ||
| External Current Account Balance | Q4 2016 | Mar. 2017 | Q | Q | Q | O, LO, LO, LO | O, O, O, O, LO |
| Exports and Imports of Goods and Services | Q4 2016 | Mar. 2017 | Q | Q | Q | ||
| GDP/GNP | Q4 2016 | Mar. 2017 | Q | Q | Q | O, LO, O, O | LO, O, LO, LO, NO |
| Gross External Debt | Nov. 2016 | Mar. 2017 | M | M | M | ||
| International Investment Position7 | Q4 2016 | Mar. 2017 | Q | Q | Q | ||
Daily (D); Weekly (W); Monthly (M); Bi-monthly (B); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The GG consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Reflects the assessment provided in the data ROSC published in October 2006 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).
Same as Footnote 8, except referring to international standards concerning (respectively) source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.
Colombia: Table of Common Indicators Required for Surveillance
(As of March 24, 2017)
| Date of Latest Observation | Date Received | Frequency of Data1 | Frequency of Reporting1 | Frequency of Publication1 | Memo Items: | ||
| Data Quality – Methodological Soundness8 | Data Quality – Accuracy and Reliability9 | ||||||
| Exchange Rates | Mar. 24, 2017 | Mar. 24, 2017 | D | D | D | ||
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities2 | Feb. 2017 | Mar. 2017 | M | M | M | ||
| Reserve/Base Money | Mar. 2017 | Mar. 2017 | W | W | W | LO, O, LO, LO | O, O, O, O, O |
| Broad Money | Mar. 2017 | Mar. 2017 | W | W | W | ||
| Central Bank Balance Sheet | 201420142012 Jan. 2017 | Mar. 2017 | W | W | W | ||
| Consolidated Balance Sheet of the Banking System | Nov. 2016 | Mar. 2017 | M | M | M | ||
| Interest Rates3 | Mar. 23, 2017 | Mar. 24, 2017 | D | D | D | ||
| Consumer Price Index | Feb. 2017 | Mar. 2017 | M | M | M | ||
| Revenue, Expenditure, Balance and Financing Composition4 – General Government (GG)5 | Q4 2016 | Mar. 2017 | Q | Q | Q | O, O, LO, O | LO, O, O, O, NO |
| Revenue, Expenditure, Balance and Composition of Financing4 – Central Government | Nov. 2017 | Mar. 2017 | M | M | M | ||
| Stocks of Central Government and Central Government-Guaranteed Debt6 | Feb. 2017 | Mar. 2017 | M | M | M | ||
| External Current Account Balance | Q4 2016 | Mar. 2017 | Q | Q | Q | O, LO, LO, LO | O, O, O, O, LO |
| Exports and Imports of Goods and Services | Q4 2016 | Mar. 2017 | Q | Q | Q | ||
| GDP/GNP | Q4 2016 | Mar. 2017 | Q | Q | Q | O, LO, O, O | LO, O, LO, LO, NO |
| Gross External Debt | Nov. 2016 | Mar. 2017 | M | M | M | ||
| International Investment Position7 | Q4 2016 | Mar. 2017 | Q | Q | Q | ||
Daily (D); Weekly (W); Monthly (M); Bi-monthly (B); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The GG consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Reflects the assessment provided in the data ROSC published in October 2006 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).
Same as Footnote 8, except referring to international standards concerning (respectively) source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.