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At the request of the Government of Liberia (GoL), the IMF Fiscal Affairs Department (FAD) led an external assessment of the central government’s public financial management (PFM) systems based on the Public Expenditure and Financial Accountability (PEFA) methodology. The assessment was...
Persistent link: https://www.econbiz.de/10011244830
Many emerging market economies are trying to improve their budget processes and move to performance-based budgeting. This paper first reviews the evolution of the "new" performance budgeting model, increasingly being applied in industrial countries. By identifying its main components, the tasks...
Persistent link: https://www.econbiz.de/10005263816
This paper reviews the tasks and design of audit committees, increasingly recommended as a way to strengthen financial accountability and good central bank governance. It outlines the motivations for the establishment of audit committees in commercial corporations and public sector entities, and...
Persistent link: https://www.econbiz.de/10005605398
Country practices towards managing financial risks on a sovereign balance sheet continue to evolve. Each crisis period, and its legacy on sovereign balance sheets, reaffirms the need for strengthening financial risk management. This paper discusses some salient features embedded in in the...
Persistent link: https://www.econbiz.de/10011242294
on positive trends in the area of accounting, information recording, and financial reporting. …
Persistent link: https://www.econbiz.de/10011243444
execution, accounting, finance report, cash management, and so on. The purpose of this mission was to evaluate the government …
Persistent link: https://www.econbiz.de/10011243753
This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...
Persistent link: https://www.econbiz.de/10011243850
Libya faces a number of challenges to establishing a robust, efficient, and transparent public financial management system. There is a need to establish a clear macrofiscal policy framework. The Sovereign Wealth Fund (SWF) should be a financing fund system with clear and rigid inflow and outflow...
Persistent link: https://www.econbiz.de/10011243870
This paper examines the financial strength of central banks in Central America and the Dominican Republic (CADR). Some central banks are working off the effects of intervention in distressed financial institutions during the 1990’s and early 2000’s. Their net income has improved...
Persistent link: https://www.econbiz.de/10011142063
This paper re-examines the stock-flow discrepancies of government debt and deficits and correlation with fiscal transparency. Applying the fully integrated relationship between financial stocks and flows allows for a more refined analysis of the deterministic components that make up the...
Persistent link: https://www.econbiz.de/10011142141