The government's public financial management (PFM) Reform Program 2016-2020 foresees the gradual transition of public sector financial reporting from a cash basis to an accrual basis of accounting and the application of International Public Sector Accounting Standards (IPSAS). This will...

This document reports on a Public Financial Management and Accountability Assessment (PFMAA) for the Federal Government of Pakistan (GoP). Measured against the six core Public Financial Management (PFM) objectives examined by the assessment, the assessment indicates that there have been...

This paper summarizes and discusses the results of a survey on country practices in the management of sovereign assets and liabilities. Twenty-eight countries, mostly high-income economies, responded to the questionnaire. The survey responses provide detailed information about various approaches...

What is the real character of fiscal policy? Is it expansionary or restrictive? Is it pro-cyclical or does it have stabilization effects? Policymakers and economic analysts need to be able to ascertain fiscal policy effort. As the actual budget balances are affected both by cyclical factors and...

A Public Expenditure and Financial accountability (PEFA) repeat assessment was conducted in the Republic of Serbia (RoS) between November 2014 and May 2015 by an independent team of experts, led by the World Bank (WB). The assessment was financed jointly by the Strengthening of Accountability...

The objective of this paper is to provide practical recommendations for improving the effectiveness of the public financial management system as inputs to the envisaged Armenian public financial management (PFM) reform strategy. The paper aims at providing a comprehensive analysis of most of the...

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...

The Public Expenditure and Financial Accountability (PEFA) Program provides a framework for assessing and reporting on the strengths and weaknesses of public financial management (PFM) using quantitative indicators to measure performance. PEFA is a tool that helps governments achieve sustainable...

The Public Expenditure and Financial Accountability (PEFA) assessment aims to provide the government of Albania with an objective up-to-date diagnostic of the national public financial management (PFM) performance based on the latest PEFA methodology. The assessment establishes a new PEFA...

The Public Expenditure and Financial Accountability (PEFA) assessment aims to provide the government of Albania with an objective up-to-date diagnostic of the national public financial management (PFM) performance based on the latest PEFA methodology. The assessment establishes a new PEFA...