Colombia Population (August 2017 estimate): 49,364,592 GDP (nominal) 2016 WB estimate: Total US$ 282,463 million (42nd) Per capita US$5,806 (83th) HDI (2015) 0.727 (95th)

Peace deal

Peace deal President Juan Manuel Santos began his second term in office on August 7th, 2014, which will end on August 7, 2018. After four years of negotiation and the approval of the six points of the agenda agreed in 2012: agricultural development policy; political participation; solution to the problem of illicit crops; victims of the conflict; end of the armed conflict; and implementation, verification and endorsement, the Colombian Congress approved on 30 November 2016 the new peace agreement between the Government of Colombia and the Revolutionary Armed Forces of Colombia (FARC-EP - Fuerzas Armadas Revolucionarias de Colombia - Ejército del Pueblo). The agreement was signed on November 24 by President Santos and FARC leader, Rodrigo Londoño 'Timochenko', in Bogotá. The Government and the FARC-EP initiated a definitive bilateral cease-fire on 29 August 2016, while the mobilization of the different FARC structures to the location areas covered by the agreement ended on February 18, 2017. After the concentration of the guerrillas, the process of abandoning the weapons continues, which is being verified by the UN Mission in Colombia.

The bad ones: Inequality

Corruption

The good ones: Fiscal instruments National rule: Structural balance rule for Central Government (approved by Congress in June 2011) sets a path for fiscal consolidation that lowers the structural deficit for the Central Government to 2.3 percent of GDP in 2014 and sets a ceiling for the deficit of 1 percent effective in 2022. The rule also allows for fiscal expansion when the expected output growth rate is at least 2 p.p. lower than the long-term growth rate (allowing for countercyclical fiscal policy in cases of emergencies and/or large macro shocks); and creates a sovereign wealth fund (SWF) to save windfall revenue from natural resources. Annual targets are framed by a medium-term fiscal framework. An independent advisory commission was also established to help operationalize the structural balance rule and assess its implementation. There is an escape clause: “In case of extraordinary events threatening the macroeconomic stability of the country, enforcement of the fiscal rule may be temporarily suspended, subject to the favorable opinion of CONFIS” (an internal fiscal council headed by the Finance Minister).

Fiscal instruments

Fiscal instruments http://www.pte.gov.co

Open Contracting - OCP https://www.open-contracting.org/

Open Contracting

Usage of Open data http://opendatabarometer.org/?_year=2016&indicator=ODB

Usage of Open Government data http://www.oecd.org/gov/digital-government/open-government-data.htm

Open Government

Open data Portal http://www.datos.gov.co

PTE: Economic Transparency Portal http://www.pte.gov.co