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January 2012

January 30, 2012

How to Become a PFM Specialist – ODI to the Rescue!

Posted by Holger van Eden

PFM is an odd specialization. Not really taught at university, practiced but not really reflected on in government, PFM specialists usually roll into the topic after a dubious career in ministries of finance, consultancy or academia, or all three. Also, PFM specialists tend to come in blood groups: macrofiscal experts, budget “preppers”, performance specialists, experts on treasury management, IFMIS, government accounting, procurement, budget law, and so on. The generalists are harder to find, and are often so general that they can’t really provide advice on the “nuts and bolts” for improving government systems. Then again, the “nuts and bolts” guys often prefer to keep their esoteric knowledge to themselves. If you know how to modernize a chart of accounts, introduce IPSAS accrual accounting, or develop outcome based budgeting, well there are 190 or so countries which might avail of your services. No need to put the family silver on the table, as it were.

The UK’s Overseas Development Institute (ODI), perhaps sensing the scattered natured of PFM’s knowledge base, recently commissioned a very useful guide to the PFM literature. There is a lot of information out there both at the general and at the “nuts and bolts” level (including on the PFM Blog as the guide helpfully indicates), much of it produced by international organizations as the World Bank, the OECD and the IMF. The intro does warn the reader on the “established” nature of the reading suggestions: “it is up to the reader to remain critical and determine whether the international advice is appropriate to specific country contexts”.  Nothing wrong with that advice.

Continue reading "How to Become a PFM Specialist – ODI to the Rescue!" »

January 27, 2012

How Ireland is strengthening its fiscal management as part of its ongoing recovery program

Posted By Brian Olden

A recent article by Tom Ferris in Public Affairs Ireland Journal of December/January 2012 examines changes being introduced to improve fiscal responsibility in light of the IMF/EU support program and in particular the role of the newly established Irish Fiscal Advisory Council.

The article describes what the Irish government has achieved since the start of the program, when Ireland gave explicit commitments to reform its budget formulation process, introduce a Fiscal Responsibility Law and establish an Independent Budget Advisory Council.

Reforms to the budgetary process, announced by the Minister of Public Expenditure and Reform on 5 December 2011 comprised 5 strands.

  1. Spending and revenue plans to be anchored in a sustainable multi-annual vision determining how the public finances will be managed
  2. Replacement of the existing annual expenditure estimates with the introduction of a multi-annual expenditure framework
  3. Introduction of a comprehensive spending review where no expenditure lines are deemed sacrosanct
  4. Inclusion of performance information into the annual estimates
  5. Strengthening the role of parliament (“the Oireachtas”) in holding the government accountable for the budget.

The Fiscal Responsibility Bill, which is expected to be enacted in 2012, will include fiscal rules designed to ensure sustainable fiscal policy and prudent budget management over the economic cycle. The Bill will also put the new Fiscal Advisory Council on a statutory footing.

These are some of the most far reaching changes to budgetary management ever undertaken in the Irish context and the article provides a concise summary of what is envisaged and what has been achieved so far.

January 25, 2012

What Shapes the Structural Fiscal Balance?

Posted by Iva Petrova and Marcos Poplawski-Ribeiro

In recent years, policymakers have increasingly turned their attention to the structural fiscal balance as an important indicator of fiscal policy. The structural fiscal balance filters out from the overall balance cyclical movements in output and other temporary factors that are out of the reach of policy-makers. Hence, the structural balance tends to be smoother than the overall balance. At the peak of the business (or other type of) cycle the structural balance is lower than the nominal balance as unadjusted revenues are higher and (social) spending is lower. In a recession the situation is reversed, assuming that the so called automatic stabilizers are allowed to function. The structural balance is an important indicator because it shows whether fiscal policy is countercyclical and whether the fiscal balance is in line with long-term fiscal sustainability.

Estimating the structural fiscal balance is not without difficulties, however, especially in developing countries. Adjusting for the output cycle is an important but only a first step in identifying the temporary factors affecting government revenues and expenditures. There are quite a few temporary factors that can potentially influence the fiscal position. In countries with sophisticated financial markets, growing share prices could boost corporate and capital income taxes. They could also create a wealth effect that could give a temporary rise to consumption and taxes on goods and services. In resource producing low-income countries similar sizeable windfall effects could occur because of commodity exports. In emerging market economies the fiscal balance could be influenced by booming real estate prices.

Continue reading "What Shapes the Structural Fiscal Balance?" »

January 24, 2012

Job Offer: World Bank Seeking Financial Management Extended Term Consultant - Kingston, Jamaica (Job #120128)

Posted by T.K. Balakrishnan, Manager, Financial Management, Latin America and Caribbean Region, World Bank

The World Bank has an opening for a Financial Management Extended Term Consultant (ETC) based in Kingston, Jamaica. Job description and qualifications are detailed in job announcement #120128, posted on the World Bank's website. The Closing Date is February 13, 2012. For convenience, we provide the PFM Blog readers with excerpts from the Job Announcement.

Duties and Accountabilities:

The World Bank is strongly committed to support improvement of performance and capacity of FM institutions and systems, advance the use of country FM systems, and monitor and improve the fiduciary aspects of the Portfolio.   The Financial Management Extended Term Consultant (FM-ETC) is expected to be fully dedicated to these objectives.  The FM-ETC will be based in the World Bank’s office in Kingston, Jamaica and work on all financial management (FM) aspects related to the World Bank’s operations in selected Caribbean countries. This will include, but is not limited to: assessing the adequacy of project financial management arrangements, providing implementation support and supervising projects financed by grants and credits; ensuring compliance with the Bank’s audit and other fiduciary requirements, ensuring that the project operations are carried out in accordance with sound financial management practices, performing analytical work on financial management and accountability issues, and carrying out capacity building activities. 

Continue reading "Job Offer: World Bank Seeking Financial Management Extended Term Consultant - Kingston, Jamaica (Job #120128)" »

January 23, 2012

Enhancing the Capability of Central Finance Agencies

Posted by Richard Allen and Francesco Grigoli

A recent World Bank study investigated the factors that make a ministry of finance (MoF)—or more broadly defined the finance agencies at the center of government—an effective and crucial instrument for economic development.[1] One of the key findings is that an effective finance function is less about capacities, the number and quality of staff and systems, and more about the capabilities to use these capacities in the political and bureaucratic environment. Politics often gets in the way of the effective management of government resources. Another interesting finding is that centralization of powers in the MoF is important in less developed countries, to control expenditure and assure the strategic direction of government expenditures. For middle-income countries, however, decentralization of operations to line ministries is desirable to ensure effective implementation of government programs and avoid inefficient and unnecessary input-based controls.   

The study affirms that a well-organized and effective finance ministry and its associated central finance agencies (CFAs) are essential to good fiscal outcomes. CFAs are not a single organization or entity of government but a group of ministries and agencies, of which the MoF is usually the most prominent, with collective responsibility for the design and execution of a country’s wide array of financial and fiscal functions. CFAs deliver central finance functions that can be divided for convenience into the 16 categories shown below.

Continue reading "Enhancing the Capability of Central Finance Agencies" »

January 20, 2012

Job Offer: Head of PEFA Secretariat (World Bank Job #120119)

Posted by the PEFA Secretariat

Background/General Description

PEFA is a partnership program that commenced in December 2001, with the aim to assess the condition of country public financial management systems and develop a practical sequence for reform and capacity-building actions.  It has successfully seen a decade of increasing international recognition. The PEFA Secretariat is responsible to the Steering Committee  for preparing and implementing the PEFA work plan. The Secretariat is located in and formally administered by the World Bank in Washington, DC.

The PEFA partners are planning to extend the PEFA program by five years starting July 2012. During this phase (Phase IV) the program will continue its current core activities and user services.. The next phase will see substantive revisions to strengthen the PEFA performance measurement framework and to broaden the overarching governance arrangements, in particular through formal consultations with a wider group of stakeholders such as partner countries and donors. These measures are designed to ensure that the PEFA framework and its overarching governance arrangements remain relevant, and consolidates more than 10 years of progress.

Continue reading "Job Offer: Head of PEFA Secretariat (World Bank Job #120119)" »

January 18, 2012

A Toolkit to Assessing Fiscal Vulnerabilities and Risks in Advanced Economies

Posted by Andrea Schaechter

Working paper logo
Recent developments in international financial markets have reaffirmed that concerns over fiscal sustainability can precipitate a crisis in advanced as well as emerging economies. Assessing fiscal vulnerabilities and risks with a view to formulate early policy responses, is no simple feat, however. A number of short- and medium-term factors can be at play, such as the level of financing needs or the susceptibility of public finances to economic shocks. A new IMF Working Paper
 (WP/12/11)[1] presents a range of indicators and analytical tools for assessing fiscal vulnerabilities and risks for advanced economies.

While linked to the issue of debt sustainability, the paper does not analyze if a country’s fiscal policy stance and its public debt trajectory are sustainable. It focuses instead on underlying vulnerabilities and risks that could ultimately impinge on sustainability and which, as recent developments in international financial markets have reaffirmed, can precipitate a crisis in advanced as well as emerging economies. As these are complex and evolving issues, there is no single methodology that can summarize all aspects; rather a broad toolkit is needed.

Continue reading "A Toolkit to Assessing Fiscal Vulnerabilities and Risks in Advanced Economies " »

January 16, 2012

PEFA Steering Committee Plans the PEFA Program’s Fourth Phase - Newsflash!

Posted by the PEFA Secretariat

The seven PEFA partners met for their regular six-monthly Steering Committee meeting on December 11th and 12th. The meeting was hosted and chaired by the European Commission and held in Brussels.

The main item on the agenda was the preparation of the PEFA Program’s fourth phase. It was agreed that the fourth phase will cover a five year period starting July 1, 2012. Whilst the current activities of the program will continue - especially the services provided to users of the PEFA Framework - a number of new initiatives were also agreed to form part of Phase IV.

  • An enhanced mechanism for confirming adequate quality assurance processes of the individual PEFA assessments will be introduced. This will address the issue of occasional emergence of assessments of doubtful quality. This new quality assurance process will be launched in the first half of 2012 and be referred to as ‘PEFA CHECK’.
  • A comprehensive review of the PEFA Framework and subsequent updating of its content will take place during the initial years of Phase IV – starting later in 2012. This initiative will ensure that the PEFA Framework remains relevant to its users, whilst maintaining the features that have made it widely adopted across the world since its launch in 2005.
  • Several initiatives were also agreed to broaden the interaction with the wide group of users of the PEFA Framework and the PEFA assessment reports in response to the Framework becoming a global public good. One such initiative is arrangement of an annual ‘Open Forum on PEFA’. The first one will mark the celebration of the 10th anniversary of the Program and the launch of Phase IV. It is scheduled to take place in Miami, USA on May 3rd in connection with the ICGFM Conference on “PFM in the 21st century”. The event will provide an opportunity for the Program to provide a discussion forum for all interested parties on its current activities and services as well the future directions of the PEFA Program.

During the coming months, we will communicate further on each of these three developments.

The Steering Committee also prepared for the succession of the management of the PEFA Secretariat in connection with the transition to Phase IV. Frans Ronsholt, who has been the Head of Secretariat since April 2006, will retire in 2012. A vacancy announcement will be posted shortly by the World Bank.

The next ordinary meeting of the Steering Committee will take place in Washington DC in June 2012, hosted and chaired by the World Bank.

Note: The posts on the IMF PFM Blog should not be reported as representing the views of the IMF. The views expressed are those of the authors and do not necessarily represent those of the IMF or IMF policy.

January 13, 2012

Job Offer: Regional PFM Advisors Based in Barbados (IMF Job Number: 1100890)

The Fiscal Affairs Department (FAD) of the IMF is seeking two highly-qualified experts to fill Regional Public Financial Management (PFM) Advisor positions at the Caribbean Regional Technical Assistance Center (CARTAC), based in Barbados. The Advisors' appointment term would be for an initial period of one year, on a renewable basis, subject to satisfactory performance.
 
The Advisors will provide direct technical assistance (TA) on a range of PFM areas to the 20 countries covered by CARTAC (Anguilla,  Antigua & Barbuda, The Bahamas, Barbados , Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad & Tobago, and Turks & Caicos Islands). Their work programs will cover all PFM areas: legal and regulatory framework, budget preparation (including budget classification, medium-term budgetary frameworks, performance-oriented budgeting), budget execution (including expenditure control, treasury operations, and cash management) debt management, government accounting, fiscal reporting, financial management information systems, and internal audit. The Advisors will also supervise the technical assistance work of short-term PFM experts financed by CARTAC. The Advisors will work under the general direction of the CARTAC Center Coordinator  while on substantive issues, they will report to FAD staff in Washington D.C. Extensive travel within the countries covered by CARTAC should be expected.

Continue reading "Job Offer: Regional PFM Advisors Based in Barbados (IMF Job Number: 1100890)" »

January 11, 2012

Country PFM Systems That Donors Can Believe In – A Glass Half Full

Posted by Camille Karamaga

As many participants and stakeholders in developing country budget processes have recognized, channeling external aid through country systems has helped to strengthen institutional and individual capacities, enhance domestic accountability for resources, improve expenditure prioritization, and, ultimately, contribute to more sustainable economic development. However, a recent OECD report on “Aid Effectiveness 2005-10” indicates that, while some progress has been made, donors and developing countries have fallen well short of the goals that they set themselves in the 2005 Paris Declaration on use of country PFM systems.

The findings from the 2011 OCED survey on aid effectiveness-covering 78 countries- provided significant input into the Fourth High Level Forum held in Busan, South Korea on November 29th to December 1st, 2011. This forum acted as a platform for renewed impetus for creating stronger, collective and inclusive global partnership in the final push to meet the Millennium Development Goals (MDGs) by 2015.

Continue reading "Country PFM Systems That Donors Can Believe In – A Glass Half Full" »

January 09, 2012

Latest Issue of International Journal of Governmental Financial Management published

Posted by Andy Wynne

The latest issue of the International Journal of Governmental Financial Management was recently published and is now available for free download from: www.icgfm.org/journal.htm

Continue reading "Latest Issue of International Journal of Governmental Financial Management published" »

January 06, 2012

New IMF Job Offers: Regional Public Financial Management Advisors Based in Ljubljana, Slovenia (Job Number: 1200008)

The Fiscal Affairs Department (FAD) of the IMF is seeking highly-qualified experts to fill a Regional Public Financial Management (PFM) Advisor position at the Center of Excellence in Finance (CEF) based in Ljubljana, Slovenia as part of a regional program of technical assistance (TA) funded by the Japanese government. The Advisor's appointment term would be for an initial period of one year starting from May 2012, on a renewable basis, subject to satisfactory performance.

The CEF is a leading regional institution whose main aim is to promote capacity development in public financial management and central banking in South East Europe. The Supervisory Board of the CEF is comprised of ministers of finance and central bank governors of the member countries. The IMF has worked with the CEF since its inception and 2010 saw the institution celebrate its 10th anniversary. During this time the CEF has developed an extensive network and infrastructure that offers comprehensive support to a number of regional capacity development initiatives with a specific focus on institutional development. The CEF primarily focuses on design and delivery of tailor-made training programs for staff working in the public sector and central banks and, with the assistance of the IMF the delivery of technical assistance to the region.

Continue reading "New IMF Job Offers: Regional Public Financial Management Advisors Based in Ljubljana, Slovenia (Job Number: 1200008)" »

January 04, 2012

Why a Reform-minded Minister of Finance Needs a Strategic PFM Advisor as Gatekeeper

Posted by Sailendra Pattanayak

Many countries that lack both capacity and infrastructure in the area of public financial management (PFM), particularly the post-conflict ones, have to undertake comprehensive  reforms to establish sound and robust fiscal institutions. Most of these countries usually embark on a multi-pronged reform strategy and receive support—both financial support and technical assistance (TA)—from various international institutions and development partners to build PFM institutional capacity. A key aspect of such support is the funding of a large number of advisors/consultants to assist the ministry of finance in specific PFM areas, e.g., budget planning and preparation, expenditure control and treasury management, accounting/fiscal reporting, auditing, and development and implementation of financial management information systems. These advisors play a crucial role in building the fiscal institutions as the authorities draw upon their specialized expertise in the respective PFM areas. However, as the scope and complexity of TA received from such advisors increase, the strategic coordination of TA and the integrity/coherence of the PFM reform process become all the more critical.

Effective coordination and strategic management of TA from various development partners is essential to identify, monitor and manage potential risks of overlap, inconsistent advice and sub-optimal allocation and use of TA. The TA strategy should also be guided by an overarching PFM reform plan. This process should be led by the authorities, with support, if necessary, from an advisor with skills to provide such strategic advice. This strategic PFM advisor should also act as a gatekeeper between top management (usually the minister or deputy minister of finance) leading the PFM reform agenda and other advisors assisting the ministry technical staff in respective areas to ensure, inter alia, alignment of reform priorities and TA inputs. This will also improve engagement with TA providers and alignment of their support with any future reform plan.

Continue reading "Why a Reform-minded Minister of Finance Needs a Strategic PFM Advisor as Gatekeeper" »

January 02, 2012

IMF Fiscal Affairs E-Newsletter, December 2011

 

 

December 2011

IMF Fiscal Affairs Department (FAD)

  Useful Links

FAD at a Glance

Contacts in FAD

Previous newsletter

  Recent Blogs

Fiscal Glass is Half Full: Some Reasons for Optimism

When Reality Doesn't Bite—Misconceptions about the IMF and Social Spending

PFM Blog

  Coming Soon

January 2012 Fiscal Monitor Update: The next quarterly Fiscal Monitor Update will have a focus on approaches to address the euro area crisis, impact of weaker growth on public finances, and policies for 2012.

  Publication Updates

  IMF Working Papers

·         Efficiency-Adjusted Public Capital and Growth

·         Spatial Spillovers in Emerging Market Spreads

·         Decentralizing Spending More than Revenue: Does It Hurt Fiscal Performance?

·         Inflation Dynamics in the CEMAC Region

·         The Puzzle of Persistently Negative Interest
Rate-Growth Differentials: Financial Repression
or Income Catch-Up?

·         Assessing the Variability of Tax Elasticities in Lithuania

·         Evaluating Designs for a Fiscal Rule in Bulgaria

   more...

  External Publications

·         Firm Productivity and Investment Climate in Developing Countries: How Does Middle East and North Africa Manufacturing Perform?

·         Foreign Ownership, Sales to Multinationals, and Firm Efficiency: The Case of Brazil, Morocco, Pakistan, South Africa, and Vietnam

·         On the Drivers of FDI and Portfolio Investment: A Simultaneous Equations Approach

   more...

  Finance & Development

·         Are the Critics Right?

  Technical Notes
  and Manuals

·         Chart of Accounts: A Critical Element of the Public Financial Management Framework

·         Treasury Single Account: An Essential Tool for Government Cash Management

·         Operational Risk Management and Business Continuity Planning for Modern State Treasuries

   more...

 

Controlling Public Spending in Advanced Economies (Rome, November 14–15)

The Italian Ministry of Economy and Finance and FAD organized a meeting of international experts, including policy makers from over 20 advanced economies, leading academics, and international organizations. The conference deliberated on the challenges confronting advanced economies in controlling spending pressures and strengthening budget institutions. Discussions covered expenditure policy reforms, budget institutions, fiscal consolidation initiatives, and local government spending.

 "Challenges of Budgetary and Financial Crisis in Europe" presentation by Carlo Cottarelli at the London School of Economics (November 18)

The presentation focused on the current risks for the public finances in advanced economies and attendant policy implications. The medium-term fiscal consolidation needs in advanced economies are daunting and policies should address both the revenue and spending sides of the budget—encompassing tax, pension, health, and growth-oriented structural reforms.

Dec11p14th Biennial International Tax Dialogue (ITD) Conference (New Delhi, December 7–9)

The conference, of which FAD was a lead organizer, was hosted by the Ministry of Finance of India. The ITD conference—organized every two years—focused this time on the topic of "Tax and Inequality." The conference explored how taxation can be part of the solution to growing inequalities in income and wealth. It was attended by over 400 participants, including Ministers of Finance and senior government representatives of over 80 countries, academics, and regional and international organizations. The opening remarks were delivered by India's Minister of Finance Pranab Mukherjee, China's Vice-Minister of Finance Wang Jun, and IMF Deputy Managing Director Min Zhu.

FAD in The News

The New Delhi ITD conference on “Tax and Inequality” was picked up by numerous news and media organizations, including Dow Jones International News,  The Financial, India Blooms News Service, The Hindu,  Business Standard, and Asia Pulse.

 

Bloomberg broadcast an interview with FAD Director Carlo Cottarelli on U.S. fiscal policy and the European sovereign-debt crisis.

 

Presentations by Carlo Cottarelli at the London School of Economics (IMF Cottarelli: US, Japan Need Urgent Fiscal Plans, Europe Must Reform To Grow) and the University of Valencia, Spain (Expansion, Noticias) were picked up by news agencies and local media.

 

FAD Deputy Director Michael Keen participated in a round table on the flat tax, broadcast in the news program “To the Point” (KCRW, National Public Radio, U.S.).

 

 

African Fiscal Forum on Policy Challenges Facing Sub-Saharan Africa (Cape Town, November 9-10)

Together with the South African National Treasury, FAD organized the first Fiscal Forum that focused on Africa. Participants shared their experiences of dealing with recent food and fuel price shocks and the growth slowdown in 2009. The forum was opened by the South African Deputy Minister of Finance Mr. Nhlanhla Nene, and attended by 50 senior officials from sub-Saharan Africa, academics, and international institutions.

Dec11p2Tokyo Conference on Public Health Care Reform in Asia (October 3)

The event, jointly organized by FAD and the IMF Regional Office for Asia and the Pacific (OAP), brought together 60 government officials, academics, and health experts from 11 Asian countries. The discussion focused on ways to contain the growth of health spending in advanced countries—including through the use of budget caps, enhanced reliance on competition among providers and insurance companies, and an effective use of analysis for selecting health interventions. For emerging market countries, challenges include the need to provide universal coverage with a fiscally sustainable package of services. Several Asian countries have successfully reformed their health care system (e.g. Japan, Thailand) and their experiences provided important insights.IMF Deputy Managing Director Min Zhu opened the conference and chaired the concluding policy panel discussion.

Dec11p3FAD Revenue Administration Expands Regional Technical Assistance Dialogue

FAD organized a number of regional conferences to engage senior tax administrators in discussions of developments and revenue administration developments and reform strategies. In collaboration with the Center of Excellence in Finance, it organized a Conference on Tax Administration in South East Europe (Ljubljana, October 5-7) of the heads and senior officials of regional tax agencies, the European Union, and the Intra-European Organization of Tax Administrations (IOTA). The conference provided an opportunity to exchange views on the implications of the global financial crisis for tax administration and ongoing reforms. Another workshop on Revenue Administration Reform Priorities and Effective Implementation in the Middle East (Kuwait City, October 16-20) was jointly organized with the recently established IMF-Middle East Center for Economics and Finance. It was attended by Representatives from 13 countries across the Gulf States, the Middle East and North Africa. Finally, a workshop for eleven Caribbean countries on Strategic Management(Montego Bay, October 20-26) was organized by FAD and the World Bank. The event also marked the launch of the SEMCAR (Supporting Economic Management in the Caribbean) tax administration work program financed by CIDA (Canada).

Dec11p42011 Winter Conference of the International Consortium on Government Financial Management (ICGFM)

During December 5-7, 120 members of the ICGFM met at the Fund to discuss future key components of Public Financial Management (PFM) systems. Attendance covered a broad array of financial management practitioners from governments, universities, the private sector, and professional associations. The conference included a preview of FAD's forthcoming book "The Emerging Architecture of Public Financial Management in the 21st Century."

Workshop on Automatic Fuel Pricing Mechanisms in the West African Economic and Monetary Union (WAEMU) in Ouagadougou, Burkina Faso

The WAEMU commission and FAD organized a workshop during August 29–31 focusing on fiscal implications of regional fuel pricing policies. It highlighted the fiscal costs of current approaches to fuel pricing, potential gains from automatic pricing mechanisms, and the need to implement the WAEMU directive on fuel tax harmonization.

Fiscal Monitor Data Visualization Tool

The Fiscal Monitor’s underlying data are now publicly available with a user-friendly data visualization tool.

Tax Reform in the U.K. and the U.S.: Lessons from the Mirrlees Review (Washington, November 22)

FAD organized a presentation of the Mirrlees Review of the UK tax system by its lead authors. The review contains innovative tax policy recommendations that are relevant to many countries.

Technical Notes

A New Tool to Assess Underlying Fiscal Positions

A new website provides information on the adjustment of fiscal balances for output cycles and other effects (e.g., commodity, housing, and stock prices, and output composition)—a step in assessing fiscal sustainability. It includes an excel tool based on a technical note by F. Bornhorst and others, and provides an opportunity for feedback from users.

Technical Assistance Activities

During September–December 2011, FAD provided 75 technical assistance missions to IMF member countries and multi-country organizations.

Career Opportunities

FAD seeks talented and dedicated professionals with a background in different areas of public finance, to work on macro-fiscal policy issues and to provide technical assistance advice to IMF member countries on public financial management, tax policy reform, revenue administration, and different expenditure policy issues. Vacancies in FAD for staff and long-term expert positions are posted on http://www.imf.org/jobs. FAD also seeks experts who are interested in occasional short-term (2–3 week) assignments; interested candidates may send their CVs to FADexperts@imf.org

 

 
 

 

 

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