...Neutral Institutional Framework: Fitch Ratings considers the Colombian institutional framework to be "neutral" from a credit perspective. Lessons Learned: Colombia's regulatory framework reflects the maturity gained from lessons learned after the Colombian economic crisis at the end of the 1990s. Compared to other countries in the region, Colombia has more explicit regulations on debt and operating expenditure ceilings, as well as mechanisms for recovering fiscal viability. However, it imposes restrictions on the use of budget mechanisms for investments through "future budget allocations" and proper handling of indebtedness ratios. Appropriate Efforts on Transparency: Since 2008, the Contadurfa General de la Naci=n, through the Consolidador de Hacienda e Informaci=n Financiera P·blica (CHIP, Consolidator of Finance and Public Financial Information) has been in charge of standardizing the formats used by public agencies to present their financial, economic and social information to national...
