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March 2019

March 28, 2019

Increasing Fiscal Transparency in Francophone Sub-Saharan Africa

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Posted by Bruno Imbert[1]

Fiscal Transparency has become a pressing topic in the international agenda over the past years. The sharp deterioration of the fiscal stance that accompanied the 2018 global economic crisis, and the related needs for fiscal adjustment, increased the incentives on Governments to have a comprehensive view of the true state of their public finances. It also revealed the necessity to improve the quality of fiscal information and the need to involve stakeholders outside the ministry of finance.

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Renforcer la transparence budgétaire en Afrique francophone

PHOTO-2019-01-31-14-25-27

Publié par Bruno Imbert[1]

La transparence budgétaire est devenue un sujet majeur au cours de la décennie passée. La détérioration rapide de la situation des finances publiques, à la suite de la crise économique mondiale de 2018, et les ajustements budgétaires qui en ont découlé, ont fait prendre conscience aux gouvernements de la nécessité de disposer d’une meilleure connaissance de leur situation budgétaire. La crise a aussi mis en lumière le besoin d’améliorer la qualité des informations budgétaires ainsi que la nécessité d’associer d’autres acteurs en dehors des ministères des finances.

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March 25, 2019

How the PFM Act in Pakistan Could Fix Public Finances

Pak
Posted by Muhammad Afnan Alam[1]

The government of Pakistan has implemented a wide range of PFM reforms since the early 2000s. Their impact, however, has been mixed. Improvements in some areas—better informed financial statements, faster external audit scrutiny, introduction of an MTEF, for example—have had a limited impact on controlling the fiscal deficit or reducing the huge volume of off-budget spending. The implementation of an FMIS has not significantly increased the timeliness of financial data, the processing of payments, or more reliable control of government cash flows.

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March 18, 2019

A Look Behind the Curtain: Coverage and Use of an FMIS

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Posted by Moritz Piatti- Fünfkirchen[1]

At their core, FMIS systems enable the efficient processing of financial transactions and embed a set of controls to ensure that the budget is implemented as planned and effectively controlled. They also support the implementation of fiscal rules and provides the basis for holding the executive accountable for its budgetary and fiscal decisions. Yet, effective utilization of FMIS systems is rarely assessed. This leaves important questions such as ‘can we trust FMIS expenditure reporting?’ and ‘how effective is the FMIS system in controlling expenditures?’ unanswered.

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March 11, 2019

Understanding Revenue Administration

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Posted by Elizabeth Gavin[1]

The IMF has recently published an analysis of aggregated data collected in the first International Survey on Revenue Administration (ISORA) from 135 tax administrations worldwide. This is the largest survey of tax administration to date. The IMF works with partners -  CIAT, IOTA, and the OECD - to collect data through an on-line tool that participating countries use to report data.

ISORA accommodates the largest and smallest tax administrations in the world, to facilitate reasonable cross-country comparisons. These 135 tax administrations collectively represent economies making up 92 percent of world GDP, engage with more than a tenth of the world’s population as personal income tax payers, have an operating budget of over US $100 billion and conduct 50 million audits in a year.

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March 07, 2019

PFM for the SDGs

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Posted by Vitor Gaspar, David Amaglobeli, Mercedes Garcia-Escribano, Delphine Prady and Mauricio Soto[1]

A recent IMF study finds that delivering on the Sustainable Development Goals (SDGs) requires substantial spending in most countries. The study focuses on health, education and physical capital (roads, electricity, water and sanitation). These are priority investments in people and infrastructure. Low-income developing countries (LIDCs) will need to increase annual additional spending by US$0.5 trillion, by 2030. The annual additional spending being required in emerging market economies (EMEs) adds up to US$2.1 trillion. Relative to the size of their economies, the financing challenge is much larger for LIDCs. For these countries, additional spending is about 15 percent of GDP. In contrast, for EMEs, additional spending corresponds to comparatively modest 4 percent of GDP.

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March 04, 2019

Digital Government in Developing Countries

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Posted by David Fellows and Glyn Evans[1]

With the aid of development partners, developing countries are making commitments to maximise the use of digital technology. The ICT industry is right behind them. In these reforms, digital technology is being represented as the principal transformative medium of government. But to think of “Digital Government” as necessarily transformative, almost an end in itself, is misguided. Governments should be primarily concerned to provide their services and engage with electorates in the most cost-effective way. Digital technology may or may not have a role in that process.

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March 01, 2019

PFM Reforms Improve Fiscal Performance in Brazil

Brazil
Posted by Felipe Bardella[1]

Brazil released its 2018 fiscal outturn on January 31st. The federal government’s primary fiscal deficit declined to 1.6 percent of GDP, representing the second annual drop since the peak of 2.5 percent recorded in 2016. The overall deficit has also steadily declined in the last three years, from 8.6 percent of GDP in 2015 to 6.2 percent in 2018.

Although the overall fiscal position is still challenging, these positive recent outcomes reflect important PFM reforms undertaken in the country. Taking advantage of continuous technical support from the IMF[2], Brazil has introduced several new initiatives.

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