The Public Expenditure and Financial Accountability (PEFA) Program welcomes The Grand-Duchy of Luxembourg as its ninth partner. Other PEFA partners include the European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Slovak Republic, Switzerland, and United Kingdom.
“We are excited to join the PEFA program at this critical point in time. Governments around the globe confront profound policy challenges and we believe that better public financial management can help governments respond better and in a more timely fashion“
said the Minister of Finance, Pierre Gramegna of the Grand-Duchy of Luxembourg.
“We warmly welcome the Grand-Duchy of Luxembourg as the ninth PEFA partner. PEFA Partners are in the process of defining the future of the PEFA program, and Luxemburg joins at exactly the right time to make an impact on its future direction”,
said Carolina Renteria, Division Chief, IMF’s Fiscal Affairs Department, and Co-Chair of the PEFA Steering Committee.
The PEFA Program was established in 2001 by seven partners. The goals of the Program are to strengthen capacities to assess the status of country Public Financial Management (PFM) systems and develop a practical sequence of reform and capacity development actions and builds on the principles of the Strengthened Approach to Supporting Public Financial Management Reform.
The upgrading of the PEFA performance measurement methodology in 2016 and the extensive data base on PFM performance at national and subnational levels of government are important assets that need to be maintained and utilized effectively.
The current phase of the Program takes into consideration the changes in the global PFM reform landscape. It responds to demand from the PFM community for diverse applications of the PEFA methodology and greater contribution to advances in knowledge, skills and insight into more effective performance assessment and reform action. It seeks to increase government engagement and ownership of PEFA assessments and their finding.