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May 2022

May 16, 2022

Fighting Corruption in Sub-Saharan Africa

May 16 baona

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Posted by Racheeda Boukezia[1]

In the footsteps of the successful first anti-corruption training course delivered in November 2020, FAD offered a second edition of its “Fighting Corruption in Sub Saharan Africa” course from March 2-28th 2022.

Since 2018 the IMF has placed greater emphasis on governance and corruption issues both in policy dialogue and in financial program design with increased support to member countries to strengthen their capacities. The IMF’s 2019 Fiscal Monitor stressed the importance of building strong fiscal institutions to address corruption. With a myriad of opportunities for funds to leak in the public sector, understanding the vulnerabilities in the fiscal environment is crucial to design proper reforms and reduce the fiscal impact of mismanagement.

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May 09, 2022

Rethinking Public Financial Management

May 9

Posted by Gary Bandy, Mark Johnson, Tia Raappana, and Srinivas Gurazada[1]

 

What do governments need to be effective in a crisis? Among many other things, they need to be good at risk management, at securing the necessary resources and spending them where they matter the most, as quickly and effectively as possible, whilst balancing many policy priorities and demands. To do all this, a government needs good PFM systems. Often, governments with weak PFM systems will find those weaknesses exposed and magnified during times of crisis or extreme fiscal pressure.

Over the past two decades, the focus of many countries has been to build robust, efficient, and accountable PFM systems. The Global Report on Public Financial Management by the Public Expenditure and Financial Accountability (PEFA) program[2] highlights that whilst PFM systems have seen improvements, significant weaknesses remain. Countries, on average, perform better preparing their budgets than getting them implemented.

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May 02, 2022

Budgetary Practices of the Spanish Regional Governments

May 2

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Posted by Jordi Baños, Daniel Montolio and Clara Picanyol[1]

Spain is considered a highly decentralized country, where Regional Governments (called “Autonomous Communities”) manage around 31% of total public sector expenditure (Euro 224 billion in 2021 (19% of GDP)), providing healthcare, education, long-term care, and social services, among other services. The debt levels of Regional Governments have increased, especially after the 2008/09 global financial crisis, reaching 25.9% of GDP in 2021.

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