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This work is undertaken in an analysis of the growth of local public debt market, which has served the government as a mechanism for financing and restructuring of the debt profile, and the local capital market is dynamic and thrives as a source basis of methodologies exist for the valuation of financial assets, the market does not have indexes that meet the principles and purposes of a benchmark. This lack hinders the work of portfolio management, limits the ability of actors to make investment decisions, makes it difficult to analyze and compare the performance of the public debt market, while it undertakes. the development of financial products. So this paper describes the main methodological principles and foundations for the construction of rates of existing debt at the international level, then adjust them to the Colombian case. [ABSTRACT FROM AUTHOR]