Colombia Government Debt and Risk Management Program : Outcomes and Implemented Reforms
Effective public debt management is a cornerstone of financial stability and sustainable fiscal policy. The composition of public debt has been an important factor in many economic and financial crises, as excessive exposure to changes in exchange...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/314801481100697031/Colombia-Government-debt-and-risk-management-program-GDRM-outcomes-and-implemented-reforms http://hdl.handle.net/10986/25774 |
| Summary: | Effective public debt management is a
cornerstone of financial stability and sustainable fiscal
policy. The composition of public debt has been an important
factor in many economic and financial crises, as excessive
exposure to changes in exchange rates and interest rates can
result in large negative impacts on public finances. During
the 2008-2009 crisis, however, middle-income countries
generally performed well. The Colombian government has
embarked on a series of reforms aimed at reducing
vulnerability of the government’s balance sheet to financial
shocks. This report summarizes the main outcomes of the
Government Debt and Risk Management Program (GDRM) in
Colombia. The World Bank (WB) delivered this technical
assistance (TA) through its Government Debt and Risk
Management (GDRM) program, supporting Colombia, in
particular the General Directorate of Public Credit and
National Treasury (DGCPTN), in implementing the priority
public debt management reforms. This report summarizes the
main outcomes achieved by the DGCPTN under the GDRM
framework, which has a strong focus on outcomes. The report
is divided into five sections, with each section
corresponding to a focus area of the GDRM program. In turn,
each section is divided in three subsections as follows: (i)
progress made until March 2016; (ii) recommendations for
further strengthening public debt and cash management in the
respective areas; and (iii) potential future technical
assistance as discussed with the authorities during the
latest mission (March 2016). |
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