May 19, 2017

Opportunities for Fiscal Policy Making in the Digital Era

FiscalForum

Posted by Florian Misch, Brian Olden and Marcos Poplawski-Ribeiro[1]

Digital Revolutions in Public Finance…

A conference on “Digital Revolutions in Public Finance”, jointly hosted by the Fiscal Affairs Department of the IMF and the Bill and Melinda Gates Foundation was the centerpiece of the IMF’s Fiscal Forum during the April 2017 IMF/World Bank Spring Meetings. The event featured presentations by academics, government officials, IMF staff, and private sector representatives that discussed the significant impact of technological advances in the digital sphere on fiscal policy formulation and implementation. There was general agreement that the future impact of digitization is likely to be even more profound, disruptive, and faster than we could have imagined, given the current pace and breadth of technological changes.

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May 16, 2017

SOAS Summer School in Public Financial Management

  SOAS

Posted by Dr. Alberto Asquer[1]

What are the implications of Brexit on the management of public finances? Why have taxes been introduced in countries of the Persian Gulf? How can developing countries fund infrastructure development? How can we know if spending of public monies results in value-for-money services? These and many other questions are of pivotal importance in the discourse on public financial management nowadays.

For the second year in a row, the SOAS Summer School in Public Financial Management will provide participants with the theoretical knowledge and tools for reviewing, discussing, understanding and evaluating key themes about public financial management. Based on academic research and practical examples, students will learn how the governments and public sector organisations plan and administer public spending; how tax policies are made; what are the effects of taxation; what other means, apart from taxation, the public sector has for raising revenues; how financial performance is reported to the public; and how fiscal balance is attained. In tutorials, students will be required to present assigned tasks and discuss case studies of public financial management drawing from a variety of countries from all over the world.

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May 15, 2017

Every Woman Counts: Gender Budgeting in G7 Countries

IMFBlog

By PFM Blog Administrator    

Dear PFM Blog Readers,

Check out this blog post on Gender Budgeting by IMF Managing Director, Christine Lagarde, on the IMF's main blog site, IMFBlog. You may also be interested in the Board Paper, prepared by the IMF at the request of the Italian Presidency of the G7, on Gender Budgeting Issues in the G7, cited in that blog post. Many frequent PFM blog writers in the Fiscal Affairs Department contributed to the paper.

Enjoy!

May 11, 2017

Practical Ideas for Challenging Environments – ‘PFM Introductory Guides’

ODI

Posted by Bryn Welham, Sierd Hadley, and Mark Miller[1]

Cliquez  ici pour lire en français

The Overseas Development Institute (ODI), with funding from Sida, have recently published a series of ‘PFM Introductory Guides’ aimed at helping government officials, and their supporters, who work in low-capability environments. These documents (available in English and French) provide a summary of the key issues and some modest options for reform specifically aimed at challenging contexts. The Guides cover: (i) fiscal decentralisation; (ii) cash management; (iii) capital investment management; (iv) the strategic phase of the budget; and (v) the finance ministry challenge function. They are based on a review of the wide-ranging literature on these topics, supplemented by the first-hand experience of ODI and Budget Strengthening Initiative (BSI) staff who work on these issues.

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May 08, 2017

Brazil Publishes an Enhanced Fiscal Risk Statement

BrazilFRS

Posted by Daniel Borges[1] and Luis Felipe Vital N Pereira[2]

Since 2002 the Brazilian government has published an annual fiscal risk statement (FRS), making Brazil one of the pioneers in transparency of fiscal risks. This statement is published as an annex to the proposed Budget Guidelines Law, which is submitted by the Executive branch to Congress in April each year. The Brazilian Fiscal Responsibility Law (Complementary Law No 101, 2000), requires the publication of a FRS which provides an assessment of contingent liabilities and general risks that could influence the current budget.

During the FRS’s first decade, Brazil experienced strong economic growth, supported by stable and favorable domestic and international conditions including high commodity prices, controlled inflation and the strong commitment of federal and local governments to delivering primary surpluses. Under these circumstances, the FRS received very limited attention and was considered a bureaucratic document to fulfill a legal obligation.

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May 04, 2017

Managing Budgetary Pressures

CABRI

Posted by Neil Cole and Alta Folscher[1]

Budget managers are frequently confronted with changing circumstances during the fiscal year that disrupt even the best prepared budgets. Some routine pressures require no more than regular adjustments to plans, while others become chronic and have a great impact on public finances. Then there are extraordinary shocks, which can be sudden and significantly threaten budget stability and service delivery. The 2017 CABRI Conference, held in Burkina Faso in March and attended by 69 officials from 26 African countries, examined how governments can better prepare for and manage such budgetary pressures without disrupting service delivery and incurring unsustainable debt.

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April 26, 2017

Investing in Children and Budget Transparency in Africa

Investing in Children

Posted by Jean Dupraz, Vivek Ramkumar, and Matthew Cummins[1]

Africa is undergoing a seismic demographic shift. Over the next 35 years, the under-18 population will grow by more than two-thirds to reach almost 1 billion by 2050. As these children reach working age, countries across the continent can benefit from accelerated economic growth via a demographic dividend. However, realizing this potential is only possible if more and better investments are made in key child-related sectors.

The proportion of children living in monetary and non-monetary poverty remains very high across the continent. Indeed, this ongoing population growth means that there are already more income-poor children in Africa today than when the Millennium Development Goals (MDGs) were launched in 1990.

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April 12, 2017

Government at a Glance: Latin America and the Caribbean 2017

Government at a Glance

Carlos Pimenta [1] and Maria Veronica Cetrola Raven [2]

For most countries in Latin America and the Caribbean (LAC) increasing growth and improving social equity are key objectives. To achieve these goals, it is essential to have, not only good governance and good public policies, but also efficient public management. The publication Government at a Glance Latin America and the Caribbean 2017 (available in both English and Spanish) is the product of a joint effort between the Inter-American Development Bank (IDB) and the Organization for Economic Co-operation and Development (OECD). It provides internationally comparable data on government activities and their results in the OECD and 15 LAC countries (Argentina, Brazil, Haiti, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Jamaica, Mexico, Panama, Paraguay, Peru, the Dominican Republic and Uruguay). This dashboard of key indicators aims to help LAC governments and citizens better understand and benchmark their country’s practices and performance against regional peers and OECD Countries.

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April 07, 2017

Coordinating the Planning and Budgeting Functions of Government

AFW2 Logo

Posted by Ashni Singh[1]

Clique aqui para a Versão Portuguesa.

The IMF’s Regional Technical Assistance Center (RTAC) for Anglophone West Africa and Cabo Verde (AFRITAC West 2) recently convened a workshop to discuss the challenges of improving coordination between the strategic planning and budget preparation functions of government. with the aim of achieving better alignment between policy priorities and fiscal resource allocation.

The workshop was held during March 6-10, 2017, in Cabo Verde, and was declared open by the host country’s Minister of Finance, Olavo Correia. The closing ceremony was addressed by AFRITAC West 2’s Center Coordinator Lamin Leigh. The event was also supported by two of the IMF’s other RTACs, those for Francophone West Africa (AFRITAC West) and Southern Africa (AFRITAC South). It attracted high level participation from the macro-fiscal, planning, and budget directorates of the ministries of finance, as well as the ministries of planning and national planning agencies where they exist, from all five Anglophone West African countries as well as five Lusophone African countries.[2]

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April 05, 2017

Improving Cash Management in West Africa

AFRITAC West

Posted by Jean-Pierre Nguenang[1]

The IMF’s Fiscal Affairs Department (FAD) and its Regional Technical Assistance Center in Abidjan (AFRICTAC West, AFW) recently organized a seminar on “Ensuring Active Cash Management to Finance the State Budget in Member Countries of AFW”. 39 participants from the ten member countries of AFW[2] included representatives from directorates in charge of procurement, budget management, cash and debt management, as well as a regional institution in charge of the securities markets (Agence Union Economique et Monétaire Ouest Africaine- UEMOA-Titres). In his opening speech, Mr. Adama Coulibaly, Director of Cabinet of the Ministry of Economy and Finance of Côte d’Ivoire, welcomed the participants and emphasized the central role of cash management for fiscal consolidation efforts in the region.

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