Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience

The report titled ‘contingent liabilities: the Colombian experience,’ is the first publication on the management of contingent liabilities in Colombia. Published by the Ministry of Finance and Public Credit (MHCP), the report highlights technical a...

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Main Author:	World Bank
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	CATASTROPHIC RISKS EMERGENCY NEEDS CONTINGENT LIABILITIES DISASTER ASSISTANCE DEFICIT RISKS LIABILITY ACCOUNTING RISK REDUCTION STOCK VALUATION INFORMATION SYSTEM INTEREST GUARANTEES EXCHANGE LOCAL GOVERNMENTS INFORMATION LIQUIDITY INFRASTRUCTURE DEVELOPMENT REVENUES FISCAL POLICY INSURANCE POLICIES SANCTIONS DISASTER PROBABILITY OF DEFAULT DAMAGES PUBLIC ASSETS TAX DISASTER PREVENTION BUDGETING EARTHQUAKES TSUNAMIS BUDGET TSUNAMI NATURAL DISASTER VOLCANO INSURANCE MARKETS FLOODS NATURAL DISASTERS DOCUMENTS DEBT MARKETS RETURN PUBLIC FINANCE DISASTERS ECONOMIC POLICIES LANDSLIDES DISASTER EVENT RESERVES GROSS DOMESTIC PRODUCT DEBT SERVICE NATIONAL TREASURY INVENTORY INSURANCE POLICY LEGAL FRAMEWORK FINANCE CONTINGENT LIABILITY FISCAL DEFICIT BANKS CREDIT LINE REINSURANCE EMERGENCY EARTHQUAKE DISASTER REDUCTION DISASTER RISK FUTURE PUBLIC ASSET RISK EVALUATION LOSSES BANK FISCAL BURDEN CREDIT BUDGETS DAMAGE PROPERTY DEFAULT RISK TRANSFER TREASURY ERUPTION RISK FACTORS INSURANCE RISK POOLING ECONOMIC DEVELOPMENT LOSS GROUP INSURANCE GOODS LANDSLIDE RISK INSURANCE CREDIT GUARANTEES RISK MITIGATION TAX SYSTEM DISASTER RISKS DISASTER RISK REDUCTION PHYSICAL DAMAGE LEGAL REFORMS RISK MANAGEMENT VOLCANIC ERUPTION IMPACT EVENTS FISCAL DISCIPLINE EXCHANGE RATE LIABILITIES NATURAL HAZARDS DEVELOPMENT BANK RISK ASSESSMENT RECONSTRUCTION RISK MITIGATION
Online Access:	http://documents.worldbank.org/curated/en/2015/06/24654950/fiscal-risk-assessment-contingent-liabilities-associated-natural-disasters-colombian-experience http://hdl.handle.net/10986/22118

id	okr-10986-22118
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spelling	okr-10986-221182021-04-23T14:04:06Z Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience World Bank CATASTROPHIC RISKS EMERGENCY NEEDS CONTINGENT LIABILITIES DISASTER ASSISTANCE DEFICIT RISKS LIABILITY ACCOUNTING RISK REDUCTION STOCK VALUATION INFORMATION SYSTEM INTEREST GUARANTEES EXCHANGE LOCAL GOVERNMENTS INFORMATION LIQUIDITY INFRASTRUCTURE DEVELOPMENT REVENUES FISCAL POLICY INSURANCE POLICIES SANCTIONS DISASTER PROBABILITY OF DEFAULT DAMAGES PUBLIC ASSETS TAX DISASTER PREVENTION BUDGETING EARTHQUAKES TSUNAMIS BUDGET TSUNAMI NATURAL DISASTER VOLCANO INSURANCE MARKETS FLOODS NATURAL DISASTERS DOCUMENTS DEBT MARKETS RETURN PUBLIC FINANCE DISASTERS ECONOMIC POLICIES LANDSLIDES DISASTER EVENT RESERVES GROSS DOMESTIC PRODUCT DEBT SERVICE NATIONAL TREASURY INVENTORY INSURANCE POLICY LEGAL FRAMEWORK FINANCE CONTINGENT LIABILITY FISCAL DEFICIT BANKS CREDIT LINE REINSURANCE EMERGENCY EARTHQUAKE DISASTER REDUCTION DISASTER RISK FUTURE PUBLIC ASSET RISK EVALUATION LOSSES BANK FISCAL BURDEN CREDIT BUDGETS DAMAGE PROPERTY DEFAULT RISK TRANSFER TREASURY ERUPTION RISK FACTORS INSURANCE RISK POOLING ECONOMIC DEVELOPMENT LOSS GROUP INSURANCE GOODS LANDSLIDE RISK INSURANCE CREDIT GUARANTEES RISK MITIGATION TAX SYSTEM DISASTER RISKS DISASTER RISK REDUCTION PHYSICAL DAMAGE LEGAL REFORMS RISK MANAGEMENT VOLCANIC ERUPTION IMPACT EVENTS FISCAL DISCIPLINE EXCHANGE RATE LIABILITIES NATURAL HAZARDS DEVELOPMENT BANK RISK ASSESSMENT RECONSTRUCTION RISK MITIGATION The report titled ‘contingent liabilities: the Colombian experience,’ is the first publication on the management of contingent liabilities in Colombia. Published by the Ministry of Finance and Public Credit (MHCP), the report highlights technical and normative efforts and policy reforms on the management of contingent liabilities implemented by the Colombian Government. Policy reforms disclosed in the report pertain to the management of contingent liabilities borne by the Government from four different sources, namely public credit operations, contractual public-private partnerships on infrastructure development, legal actions against the Colombian Government, and contingencies resulting from natural disasters. Importantly, although natural disasters are the second most important source of contingent liabilities faced by the Colombian Government, most formal policy reforms have been directed to the institutionalization of managing the first three sources of contingencies, while legal reforms for the explicit accounting of natural disasters is an ongoing effort in Colombia. 2015-07-07T21:13:57Z 2015-07-07T21:13:57Z 2012-06 Working Paper http://documents.worldbank.org/curated/en/2015/06/24654950/fiscal-risk-assessment-contingent-liabilities-associated-natural-disasters-colombian-experience http://hdl.handle.net/10986/22118 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Publications & Research Publications & Research :: Working Paper Colombia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	CATASTROPHIC RISKS EMERGENCY NEEDS CONTINGENT LIABILITIES DISASTER ASSISTANCE DEFICIT RISKS LIABILITY ACCOUNTING RISK REDUCTION STOCK VALUATION INFORMATION SYSTEM INTEREST GUARANTEES EXCHANGE LOCAL GOVERNMENTS INFORMATION LIQUIDITY INFRASTRUCTURE DEVELOPMENT REVENUES FISCAL POLICY INSURANCE POLICIES SANCTIONS DISASTER PROBABILITY OF DEFAULT DAMAGES PUBLIC ASSETS TAX DISASTER PREVENTION BUDGETING EARTHQUAKES TSUNAMIS BUDGET TSUNAMI NATURAL DISASTER VOLCANO INSURANCE MARKETS FLOODS NATURAL DISASTERS DOCUMENTS DEBT MARKETS RETURN PUBLIC FINANCE DISASTERS ECONOMIC POLICIES LANDSLIDES DISASTER EVENT RESERVES GROSS DOMESTIC PRODUCT DEBT SERVICE NATIONAL TREASURY INVENTORY INSURANCE POLICY LEGAL FRAMEWORK FINANCE CONTINGENT LIABILITY FISCAL DEFICIT BANKS CREDIT LINE REINSURANCE EMERGENCY EARTHQUAKE DISASTER REDUCTION DISASTER RISK FUTURE PUBLIC ASSET RISK EVALUATION LOSSES BANK FISCAL BURDEN CREDIT BUDGETS DAMAGE PROPERTY DEFAULT RISK TRANSFER TREASURY ERUPTION RISK FACTORS INSURANCE RISK POOLING ECONOMIC DEVELOPMENT LOSS GROUP INSURANCE GOODS LANDSLIDE RISK INSURANCE CREDIT GUARANTEES RISK MITIGATION TAX SYSTEM DISASTER RISKS DISASTER RISK REDUCTION PHYSICAL DAMAGE LEGAL REFORMS RISK MANAGEMENT VOLCANIC ERUPTION IMPACT EVENTS FISCAL DISCIPLINE EXCHANGE RATE LIABILITIES NATURAL HAZARDS DEVELOPMENT BANK RISK ASSESSMENT RECONSTRUCTION RISK MITIGATION
spellingShingle	CATASTROPHIC RISKS EMERGENCY NEEDS CONTINGENT LIABILITIES DISASTER ASSISTANCE DEFICIT RISKS LIABILITY ACCOUNTING RISK REDUCTION STOCK VALUATION INFORMATION SYSTEM INTEREST GUARANTEES EXCHANGE LOCAL GOVERNMENTS INFORMATION LIQUIDITY INFRASTRUCTURE DEVELOPMENT REVENUES FISCAL POLICY INSURANCE POLICIES SANCTIONS DISASTER PROBABILITY OF DEFAULT DAMAGES PUBLIC ASSETS TAX DISASTER PREVENTION BUDGETING EARTHQUAKES TSUNAMIS BUDGET TSUNAMI NATURAL DISASTER VOLCANO INSURANCE MARKETS FLOODS NATURAL DISASTERS DOCUMENTS DEBT MARKETS RETURN PUBLIC FINANCE DISASTERS ECONOMIC POLICIES LANDSLIDES DISASTER EVENT RESERVES GROSS DOMESTIC PRODUCT DEBT SERVICE NATIONAL TREASURY INVENTORY INSURANCE POLICY LEGAL FRAMEWORK FINANCE CONTINGENT LIABILITY FISCAL DEFICIT BANKS CREDIT LINE REINSURANCE EMERGENCY EARTHQUAKE DISASTER REDUCTION DISASTER RISK FUTURE PUBLIC ASSET RISK EVALUATION LOSSES BANK FISCAL BURDEN CREDIT BUDGETS DAMAGE PROPERTY DEFAULT RISK TRANSFER TREASURY ERUPTION RISK FACTORS INSURANCE RISK POOLING ECONOMIC DEVELOPMENT LOSS GROUP INSURANCE GOODS LANDSLIDE RISK INSURANCE CREDIT GUARANTEES RISK MITIGATION TAX SYSTEM DISASTER RISKS DISASTER RISK REDUCTION PHYSICAL DAMAGE LEGAL REFORMS RISK MANAGEMENT VOLCANIC ERUPTION IMPACT EVENTS FISCAL DISCIPLINE EXCHANGE RATE LIABILITIES NATURAL HAZARDS DEVELOPMENT BANK RISK ASSESSMENT RECONSTRUCTION RISK MITIGATION World Bank Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience
geographic_facet	Colombia
description	The report titled ‘contingent liabilities: the Colombian experience,’ is the first publication on the management of contingent liabilities in Colombia. Published by the Ministry of Finance and Public Credit (MHCP), the report highlights technical and normative efforts and policy reforms on the management of contingent liabilities implemented by the Colombian Government. Policy reforms disclosed in the report pertain to the management of contingent liabilities borne by the Government from four different sources, namely public credit operations, contractual public-private partnerships on infrastructure development, legal actions against the Colombian Government, and contingencies resulting from natural disasters. Importantly, although natural disasters are the second most important source of contingent liabilities faced by the Colombian Government, most formal policy reforms have been directed to the institutionalization of managing the first three sources of contingencies, while legal reforms for the explicit accounting of natural disasters is an ongoing effort in Colombia.
format	Working Paper
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience
title_short	Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience
title_full	Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience
title_fullStr	Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience
title_full_unstemmed	Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience
title_sort	fiscal risk assessment of contingent liabilities associated with natural disasters : the colombian experience
publisher	Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2015/06/24654950/fiscal-risk-assessment-contingent-liabilities-associated-natural-disasters-colombian-experience http://hdl.handle.net/10986/22118
_version_	1764450131902464000

Fiscal Risk Assessment of Contingent Liabilities Associated with Natural Disasters : The Colombian Experience

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