2015 Public Expenditure and Financial Accountability of Colombia’s Public Financial Management Systems

Abstract

The objective of the 2015 Colombia
 Public Expenditure and Financial Accountability (PEFA)
 assessment is to have an updated diagnosis of the
 performance of the public financial management (PFM) system
 in the country so as to (i) determine the progress made with
 the reforms implemented in recent years by the Government of
 Colombia (GoC), (ii) understand the impacts of these
 reforms, (iii) establish the tools and next steps necessary
 to consolidate the progress made, and (iv) promote long-term
 economic stability and sustainability. The scope of the PEFA
 Colombia 2015 exercise covers the Central Government and the
 assessment analysis period are the last three completed
 fiscal years (2012, 2013, and 2014), at the time of the
 assessment (December 2015). The field mission took place in
 Bogota between November 12 and December 18, 2015, and this
 report was prepared between January 4 and August 17, 2016,
 incorporating comments from the Government of Colombia and
 guest reviewers.