Prudent macroeconomic management and recent structural reforms have helped Colombia
weather the recent financial crisis remarkably well. The Government of Colombia has
placed particular emphasis on simplifying formalities affecting business and citizens.
In addition, a number of initiatives have been launched to make the administration
more transparent and accountable vis-à-vis citizens.However, after several years in
place, this approach needs to be re-shaped , in order to go deeper into the legal
background of regulations. Colombia still lacks a whole-of-government policy for
regulatory quality and needs to rethink the institutional set up to implement different
regulatory tools in a coherent manner. It also requires the adoption of a systemic
approach to challenge the reasons for and the logic behind formalities (trámites)
and, most importantly, regulations. Furthermore, as in many other countries, the
development and application of a comprehensive regulatory governance approach for
sub-national governments and multi-level co-ordination are pending issues.