We develop a new measure of relative debt transparency by comparing the amount of state debt reported in the annual Census survey and the amount reported in the statistical section of the state Comprehensive Annual Financial Report (CAFR). GASB 44 requires states to start reporting their total...

Many governments have started issuing 'green' bonds tied to expenditures on projects with environmental objectives such as climate change mitigation. While well-intentioned, issuance of a green bond by an investment-grade sovereign has no environmental impact, leaves funding costs unchanged,...

This paper assesses Peru's fiscal transparency practices in comparison with the IMF's Fiscal Transparency Code, including the new draft pillar on resource revenue management. Peru's practices meet most of the principles of the IMF's Fiscal Transparency Code at good or advanced level. The country...

This paper discusses results of a fiscal transparency evaluation (FTE) in Senegal. This evaluation puts forward a number of recommendations that would enable Senegal to continue to improve its fiscal transparency while strengthening the fiscal risk management framework. The recommendations...

This paper presents Fiscal Transparency Evaluation (FTE) for Armenia. This report provides 10 recommendations aimed at further enhancing fiscal transparency in the areas prioritized. Fiscal forecasts and budgets have become more forward looking and policy oriented, with the introduction of a...

This paper discusses key findings of the Fiscal Transparency Evaluation report on Guatemala. Guatemala has transparency practices that achieve the ratings of basic, good, and advanced regarding three-quarters of the principles established in the IMF's Fiscal Transparency Code. The wealth of...