Chile: Fiscal Transparency Evaluation

International Monetary Fund

No 2021/241, IMF Staff Country Reports from International Monetary Fund

Abstract: Strong fiscal institutions have contributed to Chile’s macroeconomic stability, and recent reform initiatives have focused on enhancing these institutions and fiscal transparency. This report assesses fiscal transparency practices in Chile in relation to the requirements of the IMF’s Fiscal Transparency Code and confirms that many elements of sound fiscal transparency practices are already in place. Chile’s practices meet the principles of the code at a good or advanced level for 21 out of the 36 principles. This is a good score, compared to the average for Latin American Countries and Emerging Market Economies. On a further nine principles, Chile meets the basic standard of practice. Chile’s fiscal transparency practices are very strong for fiscal forecasting and budgeting, followed by fiscal reporting, while fiscal risk analysis and management demonstrate more mixed results. Further improvements could be achieved relatively easily through the publication of some internal analyses or through a more timely or user-friendly publication of already available information.

Keywords: IMF mission team; government finance statistics manual; Chilean authorities; IMF's Fiscal Affairs Department; IMF team; Budget planning and preparation; Fiscal risks; Financial statements; Government finance statistics; Global; Africa (search for similar items in EconPapers)
Pages: 110
Date: 2021-11-11
New Economics Papers: this item is included in nep-acc and nep-mac
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