October 20, 2014

Performance Budgeting in the States of the United States 1/

Des Moines, Iowa State Capitol
By Celeste Kubasta

In developing PFM reforms it makes sense to look at other countries for best practices. Often people forget, however, that in the larger countries of this world the most exciting reforms often take place at the state or provincial level. Examples of states being more innovative than central or federal government can be found in countries as diverse as China, India or the US. The fifty states in the US provide a broad spectrum of PFM reform experiences, especially in the area of performance budgeting. The National Association of State Budget Officers recently prepared a report, “Investing in Results: Using Performance Data to Inform State Budgeting”. The range of methodologies described within this report is sure to provide country officials with useful insights for their reform efforts.

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October 16, 2014

Putting Accountability with Teeth into Fiscal Transparency

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Posted by Jules Muis1

On October 6, the IMF and the World Bank held a seminar on progress made in their fiscal transparency efforts. An almost full house was briefed about the revamped IMF Fiscal Transparency Code and Evaluation, and parallel plans for updating the Public Expenditure and Financial Accountability (PEFA) framework. The related Extractive Industries Transparency Initiative (EITI) was used as an example of how public-private initiatives could give a transparency initiative ownership, traction and increased impact.

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October 08, 2014

IMF-World Bank Seminar on New Fiscal Transparency Code and PEFA Framework

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Posted by Richard Hughes1

On October 6, the 2014 IMF-World Bank Annual Meetings kicked off with a seminar on the new Fiscal Transparency Code and PEFA Framework, two of the key international standards for fiscal disclosure and management.

This joint IMF-World Bank event provided an opportunity to learn about and discuss the changes to these important tools for benchmarking the quality of countries’ fiscal transparency and management practices. It also marked the official launch of the public consultation of the fourth and final pillar of the Fiscal Transparency Code on Natural Resource Revenue Management.

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October 01, 2014

Modernizing Treasury Management in Developing Countries

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Posted by Lewis Murara, Suhas Joshi and Mark Silins1

For one fully packed week, thirty-one participants from twenty Asian countries recently participated in a course at the IMF’s Singapore Regional Training Institute (STI) to discuss how to modernize treasury management in their countries, drawing from international experience . This course evolved from earlier courses, presented at the STI over the last three years, on the sequencing of PFM reforms. It was decided that a more focused and targeted course on treasury management would add most value. The present course was designed to dovetail neatly with technical assistance provided by the IMF’s Fiscal Affairs Department (FAD) in the region.

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September 16, 2014

Job Offer: Technical Assistance Advisor - Washington DC Based

The Fiscal Affairs Department (FAD) of the International Monetary Fund (IMF) is looking for public financial management (PFM) experts to fill technical assistance advisor positions at its headquarters in Washington, D.C., and in resident advisor positions around the world. The advisors' appointment term would be for an initial period of one-to-two years, renewable, subject to satisfactory performance. The advisors will advise member countries on a wide range of PFM matters, supervise field experts, and will be required to travel overseas.

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Job Offer: Technical Assistance Advisor - Washington DC Based" »

September 10, 2014

Job Offer: Public Financial Management (PFM) Advisor for Bhutan

Description

The Fiscal Affairs Department (FAD) of the International Monetary Fund (IMF) is seeking an experienced long term resident advisor to work in the Ministry of Finance of Bhutan under a project financed by the Government of Japan. The position is for a one-year term with the possibility of renewal and will be based in Thimpu.

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Job Offer: Public Financial Management (PFM) Advisor for Bhutan" »

Job Offer: Treasury Advisor for Jamaica

Description
The Fiscal Affairs Department (FAD) of the International Monetary Fund (IMF) is seeking an experienced long term resident advisor to work in the Ministry of Finance and Planning (MOFP) of Jamaica under a project financed by the Government of Canada. The advisor will be work on the modernization of the Accountant General’s Department, and will be based in Kingston. The position is for a two-year term.

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Job Offer: Treasury Advisor for Jamaica" »

September 02, 2014

ICGFM Issues Call for Speakers for its Winter Conference, December 1-3, 2014, Washington, DC

ICGFM PIX
Posted by David Nummy, ICGFM Vice-President for Programs

The International Consortium on Governmental Financial Management (ICGFM) will hold its Winter Conference from December 1-3, 2014, at the International Monetary Fund, conducted in partnership with the Fiscal Affairs Department (FAD).

The theme of the Conference is, PFM, Foundation for Public Governance. A Call for Speakers, Panels, and Presentations has been issued inviting public officials and members of the PFM community to submit proposals for consideration to be included in the conference program. The deadline for submission is September 14, 2014.

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August 21, 2014

18 Key Principles of PFM Reform

MindTheGap

Posted by Hisham Waly[1]

While circumstances vary from country to country, I have found that there are some generic principles for PFM reform.  I have drawn these principles from my personal experience (inside and outside the World Bank) and readings (see list of resources at the end of the article).

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18 Key Principles of PFM Reform" »

August 18, 2014

GFSM Manual

GFSM 2014 Cover

Purpose of the Government Finance Statistics Manual 2014 (GFSM 2014)

 The GFSM 2014 is an international methodological standard primarily for data compilers to prepare comprehensive government finance statistics “fit for use” for policy analysis. It describes concepts, definitions, accounting rules, classifications, and standard data presentation.

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