Letting in the light? Vatican adopts IPSAS

 Posted by Tim Irwin[1]

Throughout Europe, fiscal secrecy gave way to openness as absolute monarchy gave way to constitutional government, mainly during the nineteenth century. Kings, if they weren’t simply deposed, were constrained by legislatures and judiciaries, and budgets and accounts became public documents. Absolute monarchy has of course disappeared from Europe. Or, rather, it has almost disappeared. In a small corner of the continent, the Vatican holds out against the trend, describing itself as “an absolute monarchy” (albeit an elective one) in which the Pope “holds full legislative, executive and judicial powers.” Not surprisingly, the Vatican publishes less information on its finances than other European governments.

Public Prominence and “Muscle” — the Role of the French Court of Accounts

Posted by Maximilien Queyranne and Delphine Moretti

Supreme Audit Institutions (SAIs) are the national bodies, found in many countries around the globe, responsible for reviewing public expenditure and providing an independent opinion on government financial reporting. The Court of Accounts (Cour des Comptes) in France is one of these bodies but has a wider range of responsibilities, and a more prominent place in public life and political debates than in other countries.

The Court is part of the judicial system and consequently operates independently of the executive and legislative branches of government. Since a ruling by the Supreme Court (Conseil Constitutionnel) in 2001, the Court’s independence as well as its institutional relationship with the executive and legislative branches has been protected by the Constitution. A revision of the Constitution in July 2008 incorporated these important principles (article 47-2).

The Pole on Development Strategies and Pubic Finance (UNDP) Looking for a Well-Qualified Expert on Results-Based Public Financial Management

Posted by The Pole on Development Strategies and Public Finance (UNDP) 

The Pole on Development Strategies and Pubic Finance (UNDP) is looking for a well-qualified expert on results based Public Financial Management for a one-month period.

To achieve its objectives in the field of regional integration, the Council of Ministers of the West African Economic and Monetary Union (WAEMU) passed a new bill (directive) on National budget Law to improve public finance management within the WAEMU region. It changes the WAEMU legal framework with which the eight Member States of the zone had to comply until now.

The expert will draft the appendix related to results based management of the methodological guide that WAEMU plans to provide to its Member States to explain the new rules.

 

To apply please go to the undp.org web site or click on the following link: http://jobs.undp.org/cj_view_job.cfm?job_id=14894

Welcome to the Newcomer on the...Blog: CBO Director's Blog

• Posted by Michel Lazare

We are delighted to announce that the Director of the US Congressional Budget Office, Peter Orszag, has created a blog : CBO Director’s Blog

Here is what Peter Orszag has to say about his blog's content:

What are you likely to read on this blog? First, you will learn more about CBO — the types of work we do, how we do it, and more about the outstanding analysts we have. For example, when we come out with a new report or important cost estimate, I may write a bit about the analytical substance and also introduce you to the key staff who took the lead in the analysis. Second, CBO’s research and cost estimates are often discussed extensively in the media and elsewhere — and not surprisingly, from time to time misunderstandings or misinterpretations arise about some analysis we have done. In those kinds of situations, I will use the blog to further explain our work and address possible or potential misunderstanding. Finally, when it seems appropriate, I will use the blog to link our work to relevant outside research from academic or other institutions that may shed additional light on the challenging issues the Congress is working to address.

PFM Blog Got an Award!

Posted by Michel Lazare

The PFM Blog team is pleased to let you know that our blog received an award!

The Bayesian Heresy blog recently published its "BH Economics Blog Awards 2008" and ranked our PFM Blog second in its "Best Multilateral Agency Blog."

Best Multilateral Agency Blog
1- IMF Research Blog
2- PFM Blog
3- End Poverty in South Asia (from World Bank)

IMF — New Webpage on IMF Technical Assistance in Public Financial Management and Other Topics

Posted by Michel Lazare

The IMF's external website (www.imf.org) now includes a page devoted to presenting the technical assistance (TA) provided by the Fund. This page covers FAD's TA in the public financial management and other fiscal areas. It also covers TA provided by other IMF departments on financial and banking sector issues, statistics, and legal topics.

The address of this TA page is: http://www.imf.org/external/np/exr/key/tech.htm.

African Development Governance Strategy — AfDB Request for Comments

Have your say! African Development Bank’s draft Governance Strategic Direction for 2008-2010

Posted by Carlos Santiso, AfDB

Dear colleagues,

As you may be aware, the African Development Bank is developing Strategic Directions to guide its support to the efforts of regional member countries in 2008-2010 to strengthen governance and promote integrity in the management of public resources, with a focus on promoting good economic and financial governance at the country, sector and regional levels while paying special attention to fragile states and the management of natural resources, with a strategic deployment of its panoply of instruments. The Bank considers these pillars as key levers for pro-poor change, citizen empowerment and government accountability.

In the spirit of openness, transparency and participation, the Bank is conducting a public consultation until 15 January 2008 on the draft governance orientations paper, which was shared with the African Development Fund’s Deputies in Bamako, Mali, in September 2007. The document, in French and English, is available through the Bank’s website. Internal and external stakeholders are cordially invited to comment and submit suggestions via e-mail (send to AFDB_Governance_Str_Paper@afdb.org). The submissions can be in English or French. Your input and involvement are important, as we work to finalising these orientations and its action plan in the first half of 2008.

Have your say !

Dr. Carlos Santiso

c.santiso@afdb.org

Manager, Governance Division (OSGE 1)

African Development Bank

World Freedom Atlas: A Nice-Looking Tool to Visualize Good Governance Indexes

Posted by Michel Lazare

The time-series dataset (1990-2006) put together by the Quality of Government Institute of the Göteborg University (Sweden) is now available as an interactive mapping application in the World Freedom Atlas.

This data set is a very rich one. It contains dozens of data series and over 300 variables originating from a large variety of sources: World Bank, UNDP, NGOs, academia, etc. These data series cover not only good governance issues but also freedom, human rights, and democracy. Some of them relate to issues faced when reforming PFM systems (e.g., bureaucratic compensation) or could show, over time, the impact of PFM reforms (e.g., government effectiveness).

Drafting Budget System Laws -- IMF Technical Guidance Note

Posted by Ian Lienert

Law is a dry subject. Budgeting is as well. Would happiness be attained if the two subjects were to be married? Denmark sees no need for such a marriage: it has never adopted a formal law to govern the budget system. At the other extreme, the United States believes in this marriage: it has adopted many laws relating to the budget system—both a federal and State level. Most countries lie between the extremes of these two countries.

A new IMF FAD Technical Guidance Note on Budget Systems Laws, prepared by Ian Lienert and Israel Fainboim of the Fiscal Affairs Department, explores the variations, and provides principles to guide countries seeking to draft new budget laws or to amend existing laws.

Global Public Goods (and PFM?) ---- August International Institute of Public Finance Conference

The International Institute of Public Finance's 63rd annual congress, held Aug 27-30, 2007 in Warwick, UK, was themed “Global Public Goods and Commons: Theoretical and Policy Challenges for a Changing World.” A number of sessions at the conference focused on expenditure policy and management-related issues, including corruption and global public goods.