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Colombian government proposes changes to the royalty distribution system

Thursday, December 6th, 2012 Category: Regulations & Policy

MinHacienda Mauricio Cardenas announced that the government intends to introduce three amendments to royalty budget management. The budget for the next two years totals CoP$17.7 billion (US$9.7B). The changes are designed to tighten control on projects even further and to make royalty funding available to the central government for capital projects. The changes do not address community frustration over the changes to the system already introduced this year. We comment on the changes and the royalty system in general.

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