TohidA/MONA · Datasets at Hugging Face

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

23.1

4.1. Pension reforms

Implementation of a reform of the special pension regimes for teachers, the military, and other groups that will reduce the actuarial deficit of these regimes and raise additional cash savings. The actuarial deficit of the regime for the teachers will be reduced at least in a proportion similar to that proposed by the government for the general regime.

1

06/30/2003

MOD-SB

This SB was previously a perfromance criterion and partially a structural benchmark for the Extended Facility during 1999-2002. Congress approved law in May 2003. At R1, Partially met and modified to a new SB for end-July 2003.

3

1

2003-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

23.1

4.1. Pension reforms

Implement reform of special pension regime for the military that will make the regime more equitable.

2

07/31/2003

M

Done July 2003.

3

2

2003-07-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

23.1

4.1. Pension reforms

Submit to congress a constitutional amendment to eliminate special pension regimes, end 14th monthly pension and cap maximum pension at no more than 25 minimum salaries.

3

07/31/2004

SB

N/A

3

2004-07-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Approval by CONPES (Consejo Nacional de Politica Economica y Social) of the Social Security Institute's financial sustainability plan for its health service. The plan will clearly identify the fiscal effect of each of its elements and be consistent with eliminating the deficit of the ISS health system by 2007.

1

03/31/2003

M

Done March 2003.

3

1

2003-03-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Full implementation of CONPES plan to eliminate the deficit of the ISS health system by 2007.

2

09/30/2004

SB

N/A

3

2

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

A financial evaluation of ISS health will be undertaken, in order to determine whether additional actions beyond those established in Decree 1750 of June 2003 are required.

3

06/30/2004

SB

N/A

3

2004-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Granahorrar Bank to point of sale.

1

09/30/2004

MOD-DATE

Benchmark moved to December 31, 2004, "Restructuring of Bancafe will be completed."

3

1

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Bancafe to point of sale.

2

12/31/2003

MD

Done in February 2004. No bids received.

3

2

2003-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

FOGAFIN will announce auction for Granahorrar.

3

12/31/2004

SB

N/A

3

2004-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Restructuring of Bancafe will be completed.

4

12/31/2004

SB

N/A

3

4

2004-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of the changes to the Budget Code. The revision will (a) adopt a budget classification according to international standards that fits into the context of Colombia's legal framework; (b) require that the annual budget law include information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) establish a mid-year budget report to congress; (d) gradually phase out most revenue earmarking not mandated by the constitution by subjecting these earmarking provisions to explicit sunset provisions; (e) limit the budget carry over by eliminating the "reserva presupuestal"; and (f) limit the power of the government to make spending commitments for future years on projects not authorized under the Development Plan.

1

11/15/2004

PC

Introduced at R2, modified from an end-2003 SB.

3

1

2004-11-15

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

The 2005 budget submitted to congress will provide for a CPS deficit of 2 to 2.5 percent of GDP and will include a presentation of expenditure according to a standard international classification system.

2

07/31/2004

PC

N/A

3

2

2004-07-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

N/A

2004-06-30

P1

R3

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submitting to Congress a revision of the Budget Code (Ley Organica del Presupuesto). This revision will give the Ministry of Finance greater control over the expenditure level and budget execution with the purpose of achieving more transparency and higher budgetary flexibility. Specific measures will include (a) adoption of budget classification according to international standards that fits into the context of Colombia's legal framework; (b) a requirement to include in the annual budget law information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) the establishment of a mid-year budget report to congress.

3

10/31/2003

W

At time of P1R0, was a structural benchmark with end-June 2003 test date. At time of P1R2, budget code was submitted to congress before end-December 2003. Applicability of the pc for end-December 2003 was waived due to the unavailaiblity of the information at the time of Board's discussion. Done 12/16/03. Waiver approved.

3

2003-10-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.2

1.2. Revenue administration, including customs

Adoption of the following measures to improve tax administration: (i) establish an integrated taxpayers' current account, which records all of a taxpayer's payments in a single account; (ii) begin to close enterprises that evade taxes; and (iii) begin to report persons with tax arrears to credit bureaus.

4

09/30/2004

M

N/A

4

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.5

1.5. Debt Management

Congressional approval of the Fiscal Responsibility Law (targets for primary surplus/public debt reduction).

1

06/30/2003

M

N/A

4

1

2003-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

National Development Planning Authority (CONPES) to finalize a plan to streamline the management of government property (activos fisicos del Estado) under which an assets management unit will be set up to define and implement a management plan based on consolidated inventories and develop a program for inventory assessment.

1

12/31/2003

M

N/A

4

1

2003-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Presentation to congress of a revision of Law 80 to improve management of government contracts. The objective is to curb corruption in government procurement, improve transparency in public contracting, promote e-procurement, and design and implement a standard methodology specifying bidding terms and conditions for typical contracts.

3

06/30/2003

M

At P1R4, done July 2002.

4

3

2003-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Congressional approval of the modifications of Law 80 to improve management of government contracts.

5

12/31/2003

MOD-DATE

New 12/31/2004 test date set.

4

5

2003-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Congressional approval of the modifications of Law 80 to improve management of government contracts.

5

12/31/2004

M

N/A

4

5

2004-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

The government will issue a plan to improve the statistical reporting system for the financing of the nonfinancial public sector deficit.

1

06/30/2004

M

N/A

4

1

2004-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Completion of a National Development Planning Authority (CONPES) document to strengthen the government's legal defense service to take effect by 2005.

2

03/31/2004

M

N/A

4

2

2004-03-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Implementation of the plan to strengthen the government's legal defense service (defensa juridica del Estado).

3

09/30/2004

M

N/A

4

3

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Implement plan to improve reporting of financing of public sector.

4

12/31/2004

MD

At P1R4, done with delay. Was changed to prior action for new SBA adopted in March 2005.

4

2004-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Introduction to congress of changes to the Budget Code (Ley Organica del Presupuesto).

2

06/30/2003

MOD-SPC

Modified to structural perfomance criterion for 9/30/03.

4

2

2003-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of changes in Budget Code.

4

12/31/2003

MOD-SPC

At R2, modified to an SPC to be completed prior to the completion of R4.

4

2003-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

20.9

1.9. Inter-governmental relations

National Development Planning Authority (CONPES) will publish a stategy for strengthening the current system of fiscal decentralization.

1

09/30/2004

NM

At P1R4, by December 2005 government will publish study that evaluates revenue sharing system.

4

1

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

22

3. Civil service and public employment reforms, and wages

Issuance of a decree to eliminate existing vacancies in the public service with immediate effect, and to close vacancies created by retiring staff.

1

12/31/2002

M

N/A

4

1

2002-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

23.1

4.1. Pension reforms

Implementation of a reform of the special pension regimes for teachers, the military, and other groups that will reduce the actuarial deficit of these regimes and raise additional cash savings. The actuarial deficit of the regime for the teachers will be reduced at least in a proportion similar to that proposed by the government for the general regime.

1

06/30/2003

MOD-SB

This SB was previously a perfromance criterion and partially a structural benchmark for the Extended Facility during 1999-2002. Congress approved law in May 2003. At R1, Partially met and modified to a new SB for end-July 2003.

4

1

2003-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

23.1

4.1. Pension reforms

Implement reform of special pension regime for the military that will make the regime more equitable.

2

07/31/2003

M

N/A

4

2

2003-07-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

23.1

4.1. Pension reforms

Submit to congress a constitutional amendment to eliminate special pension regimes, end 14th monthly pension and cap maximum pension at no more than 25 minimum salaries.

3

07/31/2004

M

N/A

4

3

2004-07-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Approval by CONPES (Consejo Nacional de Politica Economica y Social) of the Social Security Institute's financial sustainability plan for its health service. The plan will clearly identify the fiscal effect of each of its elements and be consistent with eliminating the deficit of the ISS health system by 2007.

1

03/31/2003

M

N/A

4

1

2003-03-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Full implementation of National Development Planning Authority (CONPES) plan to eliminate the deficit of the ISS health system by 2007.

2

09/30/2004

M

N/A

4

2

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

A financial evaluation of ISS health will be undertaken, in order to determine whether additional actions beyond those established in Decree 1750 of June 2003 are required.

3

06/30/2004

M

N/A

4

3

2004-06-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Bancafe Bank to point of sale.

1

12/31/2003

MD

At P1R4, done with delay in February 2004. No bids received.

4

1

2003-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Granahorrar Bank to point of sale.

2

09/30/2004

MOD-DATE

Benchmark moved to December 31, 2004, "Restructuring of Bancafe will be completed."

4

2

2004-09-30

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

FOGAFIN will announce auction for Granahorrar Bank.

3

12/31/2004

MOD-DATE

Delayed to December 2005.

4

3

2004-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

FOGAFIN will announce auction for Granahorrar Bank.

3

12/31/2005

SB

Carried over to the new SBA (arrgmt 555).

4

3

2005-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Restructuring of Bancafe Bank will be completed.

4

12/31/2004

MD

At P1R4, done with delay in March 2005.

4

2004-12-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

The 2005 budget submitted to congress will provide for a CPS deficit of 2 to 2.5 percent of GDP and will include a presentation of expenditure according to a standard international classification system.

1

07/31/2004

M

N/A

4

1

2004-07-31

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of the changes to the Budget Code. The revision will (a) adopt a budget classification according to international standards that fits into the context of Colombia's legal framework; (b) require that the annual budget law include information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) establish a mid-year budget report to congress; (d) gradually phase out most revenue earmarking not mandated by the constitution by subjecting these earmarking provisions to explicit sunset provisions; (e) limit the budget carry over by eliminating the "reserva presupuestal"; and (f) limit the power of the government to make spending commitments for future years on projects not authorized under the Development Plan.

2

11/15/2004

W

Was previously a sb to be completed by 6/30/2003.

4

2

2004-11-15

N/A

503

COLOMBIA

233

SBA

2003-01-15

2,003

2005-01-14

2,005

2005-05-02

N/A

2005-04-29

P1

R4

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submitting to Congress a revision of the Budget Code (Ley Organica del Presupuesto). This revision will give the Ministry of Finance greater control over the expenditure level and budget execution with the purpose of achieving more transparency and higher budgetary flexibility. Specific measures will include (a) adoption of budget classification according to international standards that fits into the context of Colombia's legal framework; (b) a requirement to include in the annual budget law information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) the establishment of a mid-year budget report to congress.

3

10/31/2003

W

At time of P1R0, was a structural benchmark with end-June 2003 test date. At time of P1R2, budget code was submitted to congress before end-December 2003. Applicability of the pc for end-December 2003 was waived due to the unavailaiblity of the information at the time of Board's discussion. Was structural performance criterion for end-October 2003. Done 12/16/03.

4

3

2003-10-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue circular that requires banks to treat annexes pertaining to their operations with the nonfinancial public sector as part of their reports on their balance sheets.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue the regulations needed to improve the quality of information reported for the operations of local and regional governments.

1

09/30/2005

SB

N/A

0

1

2005-09-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue regulations to implement the revised budget code.

1

12/31/2005

SB

N/A

0

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SB

20.9

1.9. Inter-governmental relations

Publish a report evaluating the current system of sharing revenue among the different levels of government.

1

12/31/2005

SB

N/A

0

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SB

23.1

4.1. Pension reforms

Congressional approval of a constitutional amendment to eliminate special pension regimes, end 14th monthly pension and cap maximum pension at no more than 25 minimum salaries.

1

06/30/2005

SB

N/A

0

1

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Congressional approval of new securities law.

1

06/30/2005

SB

N/A

0

1

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Granahorrar to the point of sale.

1

12/31/2005

SB

N/A

0

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submission to Congress of 2006 budget consistent with combined public sector deficit of 2.0 percent of GDP in 2006.

1

07/31/2005

PC

N/A

0

1

2005-07-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-04-29

P1

R0

E

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of the changes to the Budget Code. The revision will (a) adopt a budget classification according to international standards that fits into the context of Colombia's legal framework; (b) require that the annual budget law include information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) establish a mid-year budget report to Congress; (d) gradually phase out most revenue earmarking not mandated by the constitution by subjecting these earmarking provisions to explicit sunset provisions; (e) limit the budget carry over by eliminating the "reserva presupuestal;" and (f) limit the power of the government to make spending commitments for future years on projects not authorized under the Development Plan.

2

06/30/2005

PC

Approval was a condition for completion of final review under previous program.

0

2

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue circular that requires banks to treat annexes pertaining to their operations with the nonfinancial public sector as part of their reports on their balance sheets.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Pepare draft law on revenue earmarking not mandated by the constitution.

1

03/30/2006

SB

N/A

1

2006-03-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue the regulations needed to improve the quality of information reported for the operations of local and regional governments.

1

09/30/2005

SB

N/A

1

2005-09-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue regulations to implement the revised budget code.

1

12/31/2005

CAN

N/A

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue decree that adopts as many elements of the revised budget code as possible, including a requirement to pesent expenditure according to an international classification system.

2

10/31/2005

SB

N/A

1

2

2005-10-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

20.9

1.9. Inter-governmental relations

Publish a report evaluating the current system of sharing revenue among the different levels of government.

1

12/31/2005

SB

N/A

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

23.1

4.1. Pension reforms

Congressional approval of a constitutional amendment to eliminate special pension regimes, end 14th monthly pension and cap maximum pension at no more than 25 minimum salaries.

1

06/30/2005

M

N/A

1

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Complete process of finding private investor for joint venture to modernize the Cartagena refinery.

1

06/30/2006

SB

N/A

1

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Congressional approval of new securities law.

1

06/30/2005

M

N/A

1

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete issuance of all regulations needed to fully implement the securities market law approved in June 2005.

2

06/30/2006

SB

N/A

1

2

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Granahorrar to the point of sale.

1

12/31/2005

M

N/A

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submission to Congress of 2006 budget consistent with combined public sector deficit of 2.0 percent of GDP in 2006.

1

07/31/2005

M

N/A

1

2005-07-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2005-10-24

P1

R1

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of the changes to the Budget Code. The revision will (a) adopt a budget classification according to international standards that fits into the context of Colombia's legal framework; (b) require that the annual budget law include information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) establish a mid-year budget report to Congress; (d) gradually phase out most revenue earmarking not mandated by the constitution by subjecting these earmarking provisions to explicit sunset provisions; (e) limit the budget carry over by eliminating the "reserva presupuestal;" and (f) limit the power of the government to make spending commitments for future years on projects not authorized under the Development Plan.

2

06/30/2005

W

At P1R1, not observed, and waiver granted. Several of these issues have been addressed in the context of the Fiscal Responsibility Law approved in 2003. The authorities are reducing the budget carry over, and will begin to limit revenue earmarking in the context of a decree and draft legislation.

1

2

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue circular that requires banks to treat annexes pertaining to their operations with the nonfinancial public sector as part of their reports on their balance sheets.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Submit tax reform to Congress.

1

08/31/2006

SB

N/A

2

1

2006-08-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Pepare draft law on revenue earmarking not mandated by the constitution.

1

03/30/2006

SB

N/A

2

1

2006-03-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue the regulations needed to improve the quality of information reported for the operations of local and regional governments.

1

09/30/2005

CAN

At P1R2, information was revised without having to issue regulations.

2

1

2005-09-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue regulations to implement the revised budget code.

1

12/31/2005

CAN

N/A

2

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue decree that adopts as many elements of the revised budget code as possible, including a requirement to pesent expenditure according to an international classification system.

2

10/31/2005

MD

At P1R2, done in December 2005.

2

2005-10-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.9

1.9. Inter-governmental relations

Submit revenue sharing reform to Congress.

1

08/31/2006

SB

N/A

2

1

2006-08-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

20.9

1.9. Inter-governmental relations

Publish a report evaluating the current system of sharing revenue among the different levels of government.

2

12/31/2005

NM

At P1R2, prepared in February 2006, but not yet published.

2

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

23.1

4.1. Pension reforms

Congressional approval of a constitutional amendment to eliminate special pension regimes, end 14th monthly pension and cap maximum pension at no more than 25 minimum salaries.

1

06/30/2005

M

N/A

2

1

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Complete process of finding private investor for joint venture to modernize the Cartagena refinery.

1

06/30/2006

SB

N/A

2

1

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete issuance of key regulations needed to fully implement the securities market law approved in June 2005.

1

06/30/2006

SB

N/A

2

1

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Submit to Congress law to strengthen independence of financial superintendency.

2

08/31/2006

SB

N/A

2

2006-08-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Congressional approval of new securities law.

3

06/30/2005

M

N/A

2

3

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete issuance of all regulations needed to fully implement the securities market law approved in June 2005.

4

06/30/2006

MOD-SB

At P1R2, modified from "all regulations" to "key regulations", yet maintaining 6/30/06 test date.

2

4

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Granahorrar to the point of sale.

1

12/31/2005

M

N/A

2

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submission to Congress of 2006 budget consistent with combined public sector deficit of 2.0 percent of GDP in 2006.

1

07/31/2005

M

N/A

2

1

2005-07-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submission to Congress of 2007 budget consistent with combined public sector deficit of 1.7 percent of GDP.

2

07/31/2006

PC

N/A

2

2006-07-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-06-12

P1

R2

BLANK

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of the changes to the Budget Code. The revision will (a) adopt a budget classification according to international standards that fits into the context of Colombia's legal framework; (b) require that the annual budget law include information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) establish a mid-year budget report to Congress; (d) gradually phase out most revenue earmarking not mandated by the constitution by subjecting these earmarking provisions to explicit sunset provisions; (e) limit the budget carry over by eliminating the "reserva presupuestal;" and (f) limit the power of the government to make spending commitments for future years on projects not authorized under the Development Plan.

3

06/30/2005

W

At P1R1, not observed, and waiver granted. Several of these issues have been addressed in the context of the Fiscal Responsibility Law approved in 2003. The authorities are reducing the budget carry over, and will begin to limit revenue earmarking in the context of a decree and draft legislation.

2

3

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue circular that requires banks to treat annexes pertaining to their operations with the nonfinancial public sector as part of their reports on their balance sheets.

1

Program Prior Action

M

N/A

3

1

2023-09-23

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Submit tax reform to Congress.

1

08/31/2006

M

N/A

3

1

2006-08-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare draft law on revenue earmarking not mandated by the constitution.

3

03/30/2006

NM

At P1R3, to be done by June 2006.

3

2006-03-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue the regulations needed to improve the quality of information reported for the operations of local and regional governments.

1

09/30/2005

CAN

At P1R2, information was revised without having to issue regulations.

3

1

2005-09-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue regulations to implement the revised budget code.

1

12/31/2005

CAN

N/A

3

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Issue decree that adopts as many elements of the revised budget code as possible, including a requirement to present expenditure according to an international classification system.

2

10/31/2005

MD

At P1R2, done in December 2005.

3

2

2005-10-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.9

1.9. Inter-governmental relations

Publish a report evaluating the current system of sharing revenue among the different levels of government.

1

12/31/2005

NM

At P1R2, prepared in February 2006, but not yet published.

3

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

20.9

1.9. Inter-governmental relations

Submit revenue sharing reform to Congress.

2

08/31/2006

MD

At P1R3, met in September 2006.

3

2

2006-08-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

23.1

4.1. Pension reforms

Congressional approval of a constitutional amendment to eliminate special pension regimes, end 14th monthly pension and cap maximum pension at no more than 25 minimum salaries.

1

06/30/2005

M

N/A

3

1

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Complete process of finding private investor for joint venture to modernize the Cartagena refinery.

1

06/30/2006

MD

At P1R3, met in August 2006.

3

1

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Submit to Congress law to strengthen independence of financial superintendency.

1

08/31/2006

NM

At P1R3, remains pending.

3

1

2006-08-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Congressional approval of new securities law.

2

06/30/2005

M

N/A

3

2

2005-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete issuance of key regulations needed to fully implement the securities market law approved in June 2005.

4

06/30/2006

M

N/A

3

4

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Complete issuance of all regulations needed to fully implement the securities market law approved in June 2005.

5

06/30/2006

MOD-SB

At P1R2, modified from "all regulations" to "key regulations", yet maintaining 6/30/06 test date.

3

5

2006-06-30

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Bring Granahorrar Bank to the point of sale.

1

12/31/2005

M

N/A

3

1

2005-12-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submission to Congress of 2006 budget consistent with combined public sector deficit of 2.0 percent of GDP in 2006.

1

07/31/2005

M

N/A

3

1

2005-07-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Submission to Congress of 2007 budget consistent with combined public sector deficit of 1.7 percent of GDP.

2

07/31/2006

M

N/A

3

2

2006-07-31

N/A

555

COLOMBIA

233

SBA

2005-05-02

2,005

2006-11-02

2,006

N/A

2006-10-30

P1

R3

L

SPC

20.8

1.8. Budget preparation (e.g., submission or approval)

Congressional approval of the changes to the Budget Code. The revision will (a) adopt a budget classification according to international standards that fits into the context of Colombia's legal framework; (b) require that the annual budget law include information on tax expenditures, quasifiscal activities, subsidies, contingent fiscal liabilities, medium-term fiscal projections, and a fiscal sustainability analysis; (c) establish a mid-year budget report to Congress; (d) gradually phase out most revenue earmarking not mandated by the constitution by subjecting these earmarking provisions to explicit sunset provisions; (e) limit the budget carry over by eliminating the "reserva presupuestal;" and (f) limit the power of the government to make spending commitments for future years on projects not authorized under the Development Plan.

3

06/30/2005

W

At P1R1, not observed, and waiver granted. Several of these issues have been addressed in the context of the Fiscal Responsibility Law approved in 2003. The authorities are reducing the budget carry over, and will begin to limit revenue earmarking in the context of a decree and draft legislation.

3

2005-06-30

N/A

621

COMOROS

632

PRGF

2009-09-21

2,009

2012-09-20

2,012

N/A

2009-09-21

P1

R0

E

PA

20.5

1.5. Debt Management

Agreements with relevant creditors on rescheduling of external payment arrears and deferment of 2009 debt payment to non -IMF/WB/AfDB creditors.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A