The Public Expenditure and Financial Accountability (PEFA) Secretariat recently celebrated its 20th anniversary of supporting governments in improving their public financial management (PFM) systems. A poll was run ahead of the global conference marking the occasion, to assess the pulse of participants from across the world.
The results were summarized in a Blog that was published on the World Bank Blogs Site and covered the reflections on four questions:
1. Can we minimize fraud, corruption, wastage, and inefficiency with strong Public Financial Management Systems?
2. In post COVID world, which aspect of PFM do you consider as of GREATEST importance?
3. Do you agree that PFM systems were able to quickly adapt and effectively respond to the pandemic?
4. What do you see as the greatest strength of the PEFA framework as the gold standard for PFM system assessment?
The poll results emphasized the critical role PFM systems play in tackling corruption and waste, but also highlighted the need for PFM systems to be able to better respond to crises and shocks.
To learn more about the results and conclusions visit the World Bank Blogs Site.
