Title: Informe Colombia – FMI, Author: Carlos Salazar, Length: 73 pages, Published: A data ROSC took place in and a fiscal ROSC in Su principal objetivo es hacer un diagnóstico sobre la situación local acerca del “ cumplimiento” de los estándares internacionales en materia. INFORME ROSC LINA ARDILA DARSI GUEVAR ¿QUE ES EL INFORME ROSC? 1. MARCO LEGAL: Requisitos jurídicos y legales del país.

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The investor base is dominated by locals, but the presence of foreign investors is rising. Ecuador, Peru, Chile etc. Investment and growth of firms in the informal sector is more constrained by insufficient finance than firms in the formal sector.

Financial soundness indicators remained strong, with low and well-provisioned non-performing loans, strong profitability, and adequate liquidity. Recent Economic and Financial Developments Source: The capital markets are small relative to the economy and trading volume is low. Informal workers are more likely to find themselves in precarious job situations. This framework, well backed by the FCL, has provided the country with resilience and with the ability to pursue countercyclical policy responses.

Implementation of Past Fund Recommendations. Stock prices posted two episodes of weaknesses since May 22, both coinciding with periods of global volatility in emerging markets: Headline inflation fell to 1. At end, Congress approved a comprehensive tax reform to improve tax progressivity and reduce non-wage labor costs, including a reduction in payroll and corporate income taxes, simplification of the VAT structure, introduction of a new tax on corporate profits, and an increase in progressivity of individual income tax.

Medium High Use the exchange rate and international reserves as shock absorber; tighten fiscal policy. This risk, however, is mitigated by a revamped legal framework for PPPs, approved in 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.


Moreover, the average loss of 10 percent is twice as large as the change in exports at the 10th percentile during EMP events in the RAM for all countries. Informality in Colombia Informal work in Colombia has been declining in recent years, but remains stubbornly high.

There are also interest rate swaps and cross-currency swaps. Staff and the authorities concurred that the current account deficit and the real exchange rate are broadly in line with fundamentals.

Related publications Share Embed Add to favorites Comments. In turn, employment rose strongly, particularly in the formal sector of the economy, and unemployment declined to 9. There is scope to increase non-oil cplombia, which are low by international standards, by broadening the tax base and reducing informality.

Documentos e informes

Colombia continued to post a strong economic performance. At the same time, it noted that expenditure pressures may arise from developmental needs e.

However, the majority of reserve indicators are still below their pre-crisis levels. Preserving Fiscal Sustainability The authorities indicated that the adoption of GFSM is currently in progress, and that contingent liabilities would continue to be reported in the medium-term fiscal framework.

To rowc these projects, the authorities created a national financial institution, Financiera de Desarrollo Nacional FDNin charge of mobilizing long-term financing to infrastructure, primarily by developing standardized financing structures suitable for local colomnia investors banks and pension funds.

In the first scenario, faster U. Market interest rates rise by roughly an additional 40 basis points in the United States at the peak, 50 basis points in vulnerable emerging market economies, 20 basis points in less vulnerable emerging market economies, and 10 basis points in other advanced economies.

Inthe share of persons employed in the informal sector in total non-agricultural employment was almost 60 percent.

The monetary authorities have continued to build-up reserves with the objective of keeping indicators at adequate levels.

The current account deficit continued to be financed by sizable surplus in the financial account 5 percent of GDPlargely driven by inward foreign direct investment 4. The medium-term outlook is favorable, but risks are tilted to the downside. In inflation held in the lower bound of the target range; fiscal targets were met; the current account deficit remained relatively low and 1 Colombian exports to China accounted for roughly 9 percent of total exports in and 24 percent of total Colombian exports were sold in to countries with significant trade links with China excluding the US.


Colombia is exposed to a sharp decline in commodity prices, especially oil, deterioration in global financial conditions, and negative growth shocks in key trading partners. Near-Term Policy Stance The capital markets are small relative to the economy and trading volume is low equity trading totals about USD one million, as compared to USD one billion in fixed income trading.

Balance of payment statistics have been extended to cover transactions in the free trade zones. In these two scenarios, the higher cost of capital resulting from the increase in risk premium reduces investment and the capital stock, lowering potential output. The expansion of the largest financial institutions across the region poses additional challenges for supervision. While asset quality is strong, the system remains exposed to concentration risk. The tax reform of lowered non-wage compulsory payments by eliminating health, training, and child care contributions, and may have contributed to reduce informality since mid After the announcement of the tapering by the U.

A further substantial reduction of inequality is envisaged in the next years as result of the full effect of the tax reform, whose main purpose was redistributive. As policy normalization proceeds, the rise in U. The Colombian authorities have reaffirmed their commitment to adopt the GFSM framework, enhance inter-institutional coordination, and increase the resources allocated to compiling government finance statistics.