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Colombia - Programmatic Fiscal and Institutional Structural Adjustment Loan Project (English)

The Programmatic Fiscal and Institutional Structural Adjustment Loan (FIAL) Project for Colombia is the first of four loans using a Programmatic Structural Adjustment Loan (PSAL) instrument. It will support the first phase of the constitutional referendum; the enactment of the tax reform law; modernization of the tax administration; improvement of budget management with modern tools and legal reforms; prevent massive losses to the State from judicial claims; strengthen the public sector procurement system; improve performance through management contract for government agencies; promote the development of a sound fiscal responsibility legal framework; support a coherent and comprehensive reform implementation process; and the initial measures that comprise the building blocks for subsequent public sector reform initiatives supported by the overall program. A single tranche amount of US$300 Million will be disbursed in March 2003. The timing of the first loan is calibrated to support the government efforts to deliver an immediate confidence building signal to the markets through major reforms that have recently been approved or are being implemented. On balance consequently, the FIAL is judged to be a high-risk, high-return project. Therefore, it is essential to maintain a close working relationship with the Government of Colombia, and to provide ample, ongoing dialogue and assistance during implementation.

Details

  • Document Date

    2003/02/20

  • Document Type

    Program Document

  • Report Number

    25476

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Colombia,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2010/07/01

  • Doc Name

    Colombia - Programmatic Fiscal and Institutional Structural Adjustment Loan Project

  • Keywords

    learning and innovation loan;medium term expenditure framework;access to international capital markets;alternative means of dispute resolution;economic and social policy;tax and customs administration;civil society at large;millennium development goal;Policy-Based Guarantee;high value transactions;public sector reform;quality of service delivery;Efficiency of Public Expenditures;financial management information system;public access to information;Tax Policy and Administration;Commission for State Reform;participation of civil society;public sector reform programs;Policy and Institutional Framework;ngos and civil society;public sector procurement;current account deficit;public sector debt;public sector modernization;financial public sector;fiscal responsibility law;sale of stock;personal income tax;government reform program;technical assistance requirement;Public Financial Management;education and health;direct foreign investment;incentives for efficiency;population at large;customs clearance time;wages and salary;source of financing;social security institutions;corporate income tax;social security transfer;efficiency in allocation;asset and liability;accountability for outcomes;net public debt;application of law;Efficiency in Education;Rule of Law;public service delivery;evaluation of results;quality of public;public health service;crime and violence;criteria for selection;security and protection;capture of state;financial transaction tax;eradication of poverty;quality public service;international financial community;strengthening budget execution;intergovernmental fiscal relation;national development objective;Public Expenditure Management;public sector expenditure;fiscal adjustment effort;allocation of expenditure;incentives for teacher;economic policy agenda;inventory of asset;implementation of law;source capital;asset management capacity;design of performance;central government fiscal;form of saving;economic reform program;rigid labor market;financial sector restructuring;total public debt;financial resource management;balance sheet items;savings and investment;reduction of income;business process reengineering;public sector entity;delivery of service;social assistance program;capital market development;rate of investment;domestic saving rate;quality and quantity;impact on poverty;bank assistance;labor market reform;danger of loss;real growth rate;efficiency and quality;world oil price;companies in difficulty;effects of corruption;control of expenditures;structural adjustment loan;weights and measure;sectors of society;international financial market;reduction in inflation;target inflation rate;public sector deficit;sound economic management;macroeconomic policy framework;process of adjustment;allocation of resource;conflict and violence;increase tax revenue;Social Impact Analysis;primarily due;equal tax treatment;land use planning;strategic environmental assessment;value added tax;financially sustainable system;social security expenditure;improvement of health;public expenditure system;conflict resolution mechanism;social sector expenditure;hard budget constraint;international good practice;international coffee price;organic budget law;structural adjustment program;public procurement process;level of support;provision of good;terms of trade;management of state;government current expenditure;mobilization of resource;Poverty & Inequality;public investment management;social security benefit;technical assistance loan;international financing organizations;decline in poverty;peace and development;Public Administration Reform;process of review;Efficiency of Education;social sector adjustment;tax administration modernization;annual economic growth;floating exchange rate;accountability for results;mobilization of funds;Civil Service Reform;quality and efficiency;implementation of reform;public policy agenda;central government deficit;transfer power;public sector institution;accumulation of debt;Public Services;Tax Reform

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Citation

Colombia - Programmatic Fiscal and Institutional Structural Adjustment Loan Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/529681468770484692/Colombia-Programmatic-Fiscal-and-Institutional-Structural-Adjustment-Loan-Project