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April 2018

April 23, 2018

2018 Fiscal Transparency Handbook

Fiscal Transparency Handbook Cover Page
Posted by Richard Allen and Sailendra Pattanayak
[1]

The 2018 Fiscal Transparency Handbook was published on April 21, 2018. The Handbook explains the principles and practices set out in the 2014 Fiscal Transparency Code, which was initially launched in the late 1990s and revised in 2014. The Code is the most widely recognized international standard for the disclosure of information about public finances.

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April 19, 2018

Forecasting the Economy, or Preparing for the Future?

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Posted by Sybi Hida[1]

Macro-fiscal forecasting in Southern African countries mimics the experience of other developing countries. Forecasting remains a challenge, especially in commodity exporting countries. The main weaknesses relate to the lack of good data and human capacity. Many Southern African countries have invested heavily in building macro-fiscal models—with the support of external experts—and setting up macro-forecasting units. In many cases, the models are complicated and require detailed data that are usually not timely, are unavailable, or do not provide a reliable guide to developments in the real economy. Another constraint is the generally high turnover of staff in forecasting units, as well as the difficulties of operating complex and cumbersome forecasting models.

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April 12, 2018

The IMF’s Online PFM Course

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An Interview with Sophie Brown, Manal Fouad and Caroline Van Rijckeghem[1]

 

As the Fiscal Affairs Department of the IMF gets ready to launch the second offering of its online PFM course, Richard Allen (RA) interviews Sophie Brown (SB), Manal Fouad (MF), and Caroline Van Rijckeghem (CvR) on the first course offering and what it meant for training in the PFM area.

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April 09, 2018

Budget Development in a Medium-Term Perspective

Guidance Note on Linking Plans and Budgets in the Pacific_March 2018_Page_01
Posted by Richard Neves and Sanjesh Naidu[1]

For several decades, Pacific Island Countries, like many developing countries elsewhere in the world, have prepared national and sectoral plans which are inadequately linked to the annual budget process. Achieving the development objectives set out in these plans could be best described as variable. Plans have become aspirational documents, accurately reflecting the development outcomes that various communities seek, and connecting with global and regional priorities that are of national interest, for example the UN’s 2030 Agenda for Sustainable Development. But they are much less effective in guiding decisions on which projects to implement, or which services to prioritize, and securing the necessary resources.  

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April 02, 2018

Budget Development in a Medium-Term Perspective

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Posted by Celeste Kubasta[1]

The Caribbean Regional Technical Assistance Center (CARTAC) recently held a workshop[2] aimed at helping member countries approach their fiscal challenges in a more strategic way, address fiscal discipline and sustainability issues, and foster transparency and accountability. The workshop also continued CARTAC’s efforts to integrate a gender perspective within budget practices. 

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