This paper studies whether budget rigidities affect the probability of countries getting into fiscal distress and reduce the likelihood of governments performing fiscal adjustments. Budget rigidities are constraints that limit the ability of the government to change the size and structure of the...

Policy toward fiscal rules is an important issue in the countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and...

This Public Expenditure and Financial Accountability (PEFA) performance assessment report evaluates the seven core pillars of the public financial management (PFM) system of the Government of the Philippines (Government) as set out in the summary assessment below. It evaluates how effectively...

The Pacific Financial Technical Assistance Center (PFTAC) produced 'A Public Financial Management Roadmap for Forum Island Countries' ("The Roadmap") in 2009 (PFTAC 2010). This document was adopted at the Forum Economic Ministers' Meeting (FEMM) of the Pacific Island Forum as an agreed approach...

Guinea-Bissau is a small state in West Africa with a population of around 1.8 million. It is rich in natural resources (fisheries, forestry and agriculture) and biodiversity. Economic activity is, however, dominated by the production and sale of unprocessed cashew, which is also the main source...

This note analyzes the progress of three public sector reforms (Public Financial Management, Public Administration, and Decentralization and Deconcentration) in Cambodia and describes how their design, implementation, and institutional arrangements can be better sequenced and coordinated. It...