Bird, Richard M. (contributor); … - The MIT Press
since the early 1990s. Higher government spending, taxes that did not keep pace with expenditures, and severe recession led … to an unsustainable debt-to-GDP ratio of 52 percent in 2002. Short-term tax increases, even coupled with spending reforms …, have not restored Colombia to fiscal balance. A Colombian government commission charged with researching more long-term tax …