Ligia Melo Banco de la Republica (Colombian Central Bank)   Cra. 7 No. 14-78 Piso 11 CARRERA 8 No. 75-67 Bogotá, CUNDINAMARCA 10001100 Colombia   Lmelobec@banrep.gov.co             JEL Areas: E6 : Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General H6 : National Budget, Deficit, and Debt: General