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March 2018

March 29, 2018

The Political Economy of Public Financial Management

 

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Posted by Benoit Taiclet[1]

A recent report published by the World Bank[2] takes stock of long lasting efforts to improve PFM systems. Since 2002, nearly 150 countries have undertaken at least one Public Expenditure and Financial Accountability (PEFA) assessment, and development partners have spent US$1.3 billion annually to support PFM reforms. However, there is a lack of studies which analyze the impact of this support on fiscal performance and budgeting, and why the impact has varied so widely across countries. The authors’ goal in this report is to close this gap, and explain what accounts for the variable rates of progress among different countries.

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March 26, 2018

South Asian Countries are Committed to Improving Public Investment Management

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Posted by Ha Vu, Lesley Fisher, and Eivind Tandberg

A recent workshop at the IMF’s South Asia Regional Training and Technical Assistance Center (SARTTAC) discussed public investment management. The workshop attracted twenty-five senior and mid-level officials from different countries in the region including Bhutan, India (central and state governments), the Maldives, Nepal and Sri Lanka. Participants demonstrated a strong commitment to improving their national and state-level public investment systems. Countries are at various stages of reviewing their public investment management systems. Some have already undertaken in-depth analysis and initiated action plans while other countries indicated their interest in doing.

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March 19, 2018

Making Gender Equality Operational

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Posted by Carolina Renteria and Johann Seiwald[1]

A workshop on gender budgeting for southeastern European countries was held at the Joint Vienna Institute (JVI) from February 20-22, 2018. The event marked the initial step towards the creation of a new community of practice on gender budgeting in the region. It brought together representatives from ministries of finance and agencies/ministries responsible for gender equality from 13 countries, including Austria which is a world leader in gender budgeting.[2] The motto of the workshop was to “learn from each other”. The participants presented case studies of gender budgeting initiatives in their countries, and discussed plans, achievements, good practices, and challenges.

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March 12, 2018

How Useful are Perception Indices of Corruption to Developing Countries?

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Posted by David Fellows[1]

There are numerous corruption perception indices. They provide an outsider’s impression of the prevalence of corruption across the various branches of government. Some indices focus on issues of bribery, others are more general in scope. Some indices aim to engage with the general public, and others with businesses or NGOs. Perception indices can incentivise governments to tackle corruption given the reputational damage that they can inflict.

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March 08, 2018

Moldova Strengthens Fiscal Risk Management

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Posted by Natalia Sclearuc, Johann Seiwald and Eivind Tandberg[1]

Moldova published its first Fiscal Risk Statement (FRS) in December 2017[2]. The FRS provides a comprehensive overview of key fiscal risks facing the country, and is a useful tool for assessing the consistency and credibility of fiscal policies. Whereas much of this information has been available from various sources in the past, the consolidated presentation allows for assessment of the relative importance of each risk category, and provides a basis for prioritizing risk mitigation measures. The table presents the key fiscal risks in the FRS.

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March 05, 2018

Launch of the New ‘PEFA Check’

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Posted by the PEFA Secretariat[1]

Since 2012, countries undertaking a PEFA assessment have been invited to submit their reports for a ‘PEFA Check’. The Check certifies that a report is compliant with PFEA Guidance on the assessment and reporting process. PEFA Checks have been widely adopted by the governments and institutions sponsoring PEFA assessments (see charts below). All PEFA reports published in 2016 and 2017 received a PEFA Check.

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March 01, 2018

Sharing the Burden: Taxation of the Peer-to-Peer Economy

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Posted by Aqib Aslam and Alpa Shah[1]

Within less than a decade, companies such as UberAirbnb, and TaskRabbit have become an integral part of the personal and social experience globally. Services that previously appeared impossible to organize beyond the community level have instead become almost impossible to do without. In this way, peer-to-peer (P2P) activities have seeped their way into everyday functions and therefore the psyche of the consumer.

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