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August 2020

August 31, 2020

How to Prevent Misuse of Government-Owned Lands

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Posted by Yugo Koshima[1]

Assets owned and managed by the government are fundamental to the provision of key public services. They can also become a source of revenue or financing, providing additional resources to the budget. Unfortunately, inefficiency in asset management has proved a headache for many governments. Worldwide, many cases have been reported of the mismanagement of public assets or government shareholdings in state-owned enterprises.

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August 27, 2020

COVID-19 Funds in Response to the Pandemic

Covid

Posted by Fazeer Rahim, Richard Allen, Hélène Barroy, Laura Gores and Joseph Kutzin[1]

In response to the COVID-19 pandemic, many countries have created dedicated extrabudgetary funds[2] (EBFs) to mobilize resources and streamline emergency spending measures. A recently published IMF Note discusses the role these funds can play in the current crisis.

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Les fonds COVID-19 en réponse à la pandémie

Covid

Publié par Fazeer Rahim, Richard Allen, Hélène Barroy, Laura Gores et Joseph Kutzin[1]

En réponse à la pandémie COVID-19, de nombreux pays ont créé des fonds extrabudgétaires (FEB)[2] afin de mobiliser des ressources et de rationaliser les mesures de dépenses d'urgence. Une note du FMI récemment publiée examine le rôle que ces fonds peuvent jouer dans la crise actuelle.

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August 24, 2020

Uganda’s Fiscal Rules during the COVID-19 Pandemic

Covid

Posted by Enock Bulime[1]

There is considerable uncertainty about the effects of the COVID-19 pandemic for Uganda’s fiscal policy and public debt. The government has rescheduled some debt repayments and obtained debt forgiveness thus reducing the pressure to borrow. The current projected fiscal deficit (including grants) to GDP for 2020/21 is 8.6 percent and the projected public debt to GDP in NPV terms is 33.5 percent. Unfortunately, due to the COVID-19 effects, the fiscal deficit and the public debt could be higher than projected due to disruptions in domestic revenue mobilisation, low economic activity and expenditure increases, tax rate reductions, and tax deferrals to mitigate the impact of the pandemic. For example, the cost of emergency expenditure increases is estimated at XXX, equivalent to YYY percent of GDP, and tax reductions/deferrals could add a further ZZZ to the government’s borrowing requirement.

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August 18, 2020

Small Island Developing States, COVID-19 and Digital Technology

Covid

Posted by David Fellows[1] and John Leonardo[2]

The impact of COVID-19

COVID-19 has changed behaviour throughout the world and social distancing has been the key driver. Workers in factories, shops and offices have been protected by creating greater space between workstations, erecting protective screens and using protective clothing. Distancing requirements have been introduced in bars, cafes, restaurants, hotels, markets and shopping centres. All economies have suffered, especially the hospitality industry, air travel and public transport. Unemployment has soared. Schools and higher education colleges have closed. Many countries are turning to the IMF for support.

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August 13, 2020

The Caribbean Experience with PFM Responses to the COVID-19 Pandemic

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Posted by Arnold Ainsley[1]

The IMF’s Fiscal Affairs Department (FAD) and the Caribbean Technical Assistance Center (CARTAC) recently organized a series of webinars for CARTAC member countries on public financial management (PFM) responses to the challenges posed by the COVID-19 pandemic. These seminars are a forum to promote peer-to-peer learning and for countries in the region to share their experiences. The first series of webinars discussed government cash management during the COVID-19 pandemic. The second series addressed preparing PFM systems for emergency response challenges during the COVID-19 Crisis.  Some lessons learned from country experiences to date are discussed below:

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August 10, 2020

First Results of Gender-Responsive Budgeting in Austria

Austria blog
Posted by Johann Seiwald and Tobias Polzer[1]

A recent paper[2] analyses the implementation of gender-responsive budgeting (GRB) in Austria, a country which pioneered reforms in this field and has been internationally recognized for its approach in making GRB a constitutional principle. A succession of awareness-building exercises and pilot projects led to the the design, preparation and implementation of the budget reform which incorporated GRB. This federal budget law reform was unanimously approved by Parliament in 2007.

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August 06, 2020

Ensuring Better PFM Outcomes from Countries’ FMIS

FMIS-blog
Posted by Moritz Piatti-Fünfkirchen, Ali Hashim, and Khuram Farooq[1]

Ensuring efficiency and continuity of service delivery in a fiscally sustainable environment is critical for budget management generally and especially in providing an effective response to COVID-19. An efficient Financial Management Information System (FMIS) is central to this. It allows line ministries that deliver key public services to spend their allocated budget in an expedited manner whilst ensuring that budget rules are complied with. Despite substantial FMIS investments in recent years, many countries still face challenges in achieving these twin objectives.

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August 03, 2020

How African Civil Society can Promote Effective Use of COVID-19 Finance

Afrc19
Posted by Jason Harris and Concha Verdugo Yepes[1]

Big things are afoot in Africa. The economic and humanitarian impact of COVID-19 is devastating and governments are reacting. So is the international community, with debt relief being provided and the IMF providing financing support through emergency facilities. Civil society has an important role in ensuring government’s response and use of emergency financing is well managed.

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