Posted by Yasemin Hurcan and Florence Kuteesa
A workshop on strengthening fiscal reporting and transparency within Anglophone West Africa took place on September 23-25 in Accra, Ghana. The 30 participants in the workshop were exposed to the latest developments and international standards of fiscal reporting and transparency including the IMF’s proposed new Fiscal Transparency Assessment (FTA) Code, which will be launched in the spring of 2014. They also examined the practices and gaps in the region and suggested measures to enhance the attainment of basic practices as articulated in the FTA Code.
The Deputy Minister for Finance of Ghana, Hon. Cassiel Ato Forson, underscored the critical role of fiscal reporting and transparency in sustaining economic growth within the region and strengthening fiscal institutions. He welcomed the IMF’s strong leadership in driving the reform agenda. In addition, the IMF resident representative, Mr. Samir Jahjah, and Dr. Nelson Magbagbeola, from the Economic Community of West African States (ECOWAS) Secretariat in Abuja, Nigeria, emphasized the need to strengthen fiscal reporting practices as a prerequisite for the successful harmonization of public financial management within the region.