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May 2014

May 30, 2014

IMF Publishes New Fiscal Transparency Evaluation for Russia

By Richard Hughes


Earlier this week, the IMF published a Fiscal Transparency Evaluation (FTE) report for Russia, which was carried out at the request of the Government of the Russian Federation by a joint team from the Fund’s Fiscal Affairs and Statistics Departments that visited Moscow in October 2013. This report is one of eight pilots of the IMF’s new instrument for assessing countries’ fiscal transparency practices based on a revised draft of the Fund’s Fiscal Transparency Code.

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May 29, 2014

Offre d'emploi: Conseiller résident en gestion des finances publiques (basé au Gabon)



Le Département des finances publiques (FAD) du FMI recherche un expert hautement qualifié pour occuper un poste de Conseiller résident en gestion des finances publiques (GFP) au sein du Centre régional d’assistance technique pour l’Afrique du Centre (AFRITAC du Centre) créé en 2007 et basé à Libreville, au Gabon. La durée du contrat proposé est d’un an, renouvelable sous réserve de satisfaire aux performances attendues.

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Offre d'emploi: Conseiller résident en gestion des finances publiques (basé au Gabon)" »

May 28, 2014

Job Offer: Public Financial Management Resident Advisor based in Gabon









The Fiscal Affairs Department (FAD) of the IMF is looking for a well-qualified expert to fill a Public Financial Management (PFM) Resident Advisor position at the Central African Regional Technical Assistance Center (Central AFRITAC), established in 2007 and based in Libreville, Gabon. The Advisor’s appointment term would be for a period of one year, on a renewable basis, subject to satisfactory performance.

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Job Offer: Public Financial Management Resident Advisor based in Gabon" »

May 27, 2014

Job Offer: Jamaica — Senior Public Financial Management Specialist

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The PFM technical advisor will be hired by the World Bank through funding by the DFID. The appointee will be based in Kingston, Jamaica. The appointment will be a one year Extended Term Consultant contract, renewable for one additional year subject to satisfactory performance. The PFM technical advisor is expected to work closely with the Financial Secretary, and provide support in implementing the PFM reform agenda. The appointee will have extensive knowledge and experience in PFM issues and working with development partners and Governments on PFM reforms. http://goo.gl/OBdHlz.


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.

May 20, 2014

Budget Institutions Matter

Posted by Holger van Eden
G20 pix blog post
Most economists would agree that institutions help shape economic and fiscal outcomes. But which institutions really matter, and to what extent, is less clear. A recent IMF Board Paper and annex featuring country evaluations produced by the Fiscal Affairs Department, which was presented today here in Washington, shines a light on the G-20 countries’ efforts to strengthen their budget institutions in the wake of the global financial crisis, and evaluates their impact on fiscal policy. In particular, it asks whether strong budget institutions helped these countries during the 2010–13 period to cope with the substantial fiscal consolidation needs that arose after the Great Recession. The evidence suggests that these institutions have indeed been important.

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May 16, 2014

Successful PFM Reform—Lessons from Sweden

Posted by Per Molander1

The role of budgetary institutions is to solve or, at least, alleviate problems associated with collective decision-making in the political sphere. To some extent, the objectives of reform are conflicting, which leads to difficult trade-offs that are both technical and political in nature. Whether a PFM reform attempt will be successful or not will depend on the ability of the reformers to handle these trade-offs.

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May 13, 2014

Strengthening Public Finances—Fiscal Councils on the Rise

Posted by Xavier Debrun and Tidiane Kinda










The fiscal legacy of the 2008-09 economic and financial crisis has shaken the credibility of governments’ commitment to sustainable public finances. Because of their potential role in restoring fiscal credibility and increasing transparency, a new breed of institution (“fiscal councils”) has come to the forefront of the policy debate.

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May 08, 2014

Challenges of Modernizing FMIS in Latin America



Posted by Gerardo Uña1



Latin America is one of the regions of the world where Financial Management Information Systems (FMIS) are widely used. By 2011 the World Bank had completed work on 55 FMIS projects, of which 25 were located in Latin America.2 This trend began in the mid-1980s, when the SIAFI in Brazil (1986) and the SIGMA in Bolivia (1989) were developed. In the 1990s, systems were developed in countries such as Argentina, Paraguay and Uruguay, and more recently in Chile, Colombia, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, and the Dominican Republic. In the meantime, there have been huge advances in technology and the conceptual design of these systems. Many countries are now looking to modernize the systems they first developed 20 or 30 years ago.

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May 06, 2014

Connecting Voices: Financial Management in the Arab World

Posted by Hisham Waly1


The World Bank’s Financial Management Unit in the Middle East & North Africa (MENA) region recently launched the Connecting Voices initiative (CV MENA) to promote improved financial management practices in both the public and private sectors. Its aim is to support the demands of citizens throughout the Arab World for better governance, a voice in public affairs, and social and economic inclusion. CV MENA plans to take advantage of the windows of opportunity for change that are now opening in the region. It will support capacity building in the area of financial management, facilitate the development of a professional community, and support the sharing and transfer of knowledge both within countries and across the region as a whole.

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May 02, 2014

ICGFM Announces Details of the 28th Annual International Training Conference

May 18-23, 2014, Miami, FL, USA

Prepared by David Nummy, World Bank

An important outcome of the global financial crisis is recognition that public financial management is critical to management of the fallout as well as to prevent future crises. New approaches to the core elements of the PFM cycle have been developed and interest has grown in the experience of countries around the world in strengthening their budget institutions and increasing fiscal transparency. In its 28th Annual Conference, the International Consortium on Governmental Financial Management (ICGFM) will explore the innovations in PFM that have emerged as well as practices that are recognized as effective.

Topics that will be highlighted at the Conference include:

• Managing the changes associated with PFM reform

• Innovations in public procurement

• New approaches to assessing risk in PFM systems

• Professionalization of the PFM workforce

• Strengthening internal audit

• Understanding sub-national risk

• Modernizing debt analysis

• New approaches to combating corruption

• Revisions to the PEFA assessment framework.

For further information on the Conference visit ICGFM’s website: www.icgfm.org


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.

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