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Live from the Desk of the Head of the PEFA Secretariat: In this video, the Head of PEFA Secretariat, Srinivas Gurazada, highlights the benefits and right fit opportunities to use AgilePEFA and our many recent events– the PEFA-ADB Events and Training for Southeast Asia, the PEFA-UN Women Gender Responsive PFM Forum and Training for Europe and Central Asia, as well as the INTOSAI WGEA Webinar on PEFA and PEFA Climate for Supreme |
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PEFA Assessment in Bosnia and Herzegovina - Four in One: Structured to reflect its unique constitutional framework, Bosnia and Herzegovina's public financial system of four government units underwent a consolidated PEFA assessment in 2023, producing one consolidated national assessment consisting of four individual assessments. The assessment results are expected to inform PFM strategy revisions in 2024 and influence high-level policy dialogues starting in 2024. |
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PFM Forum 2024 and PEFA Training for Southeast Asia: The PEFA Secretariat was in Manila, Philippines March 18-21 for the PEFA–ADB Events and Training for Southeast Asia organized by the Asian Development Bank (ADB). This included a one-day plenary event and then a two-and-a-half day PEFA training attended by more than 60 country officials. |
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Promoting Gender Equality – Forum & Training on Gender Responsive Public Financial Management (GRPFM): The PEFA Secretariat was in Istanbul, Turkey March 26-27 for the PEFA–UN Women Event & Training for the Europe and Central Asia region. The first day included presentations of PEFA Gender Assessment results and next steps in gender responsive PFM supported by UN Women. The second day was dedicated to PEFA Gender training and was attended by more than 45 country officials from 10 countries in the region, including representatives of Ministries of Finance, Supreme Audit Institutions, and gender experts. |
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NOW AVAILABLE - AgilePEFA in English, French and Spanish: The AgilePEFA was developed as an alternative -simplified and agile- guidance for conducting a PEFA assessment under certain circumstances, including adjustments to the timeframe and the report format. It maintains the integrity of the existing PEFA methodology, identifying the potential efficiencies regarding the time and resources required to undertake and prepare a PEFA assessment. The Agile PEFA is now published in English, French, Spanish. Brochures are also available in the three languages. Portuguese coming soon. |
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NOW AVAILABLE - The Guidance for Subnational PEFA Assessments in French and Spanish: The Guidance for Subnational PEFA Assessments provides additional information on applying the PEFA methodology at the subnational level (SNGs). It offers recommendations on how each of the PEFA indicators and dimensions can be applied or modified to better suit the characteristics of SNGs. It introduces some new indicators and a new pillar on intergovernmental fiscal relations. Links here: English, French, Spanish. Portuguese coming soon. |
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RECENTLY PUBLISHED PEFA REPORTS |
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Publication of the PEFA 2023 Assessments for Bosnia and Herzegovina (English + Bosnian)
The PEFA 2023 Consolidated National Assessment for Bosnia and Herzegovina was developed under a technical assistance project funded and managed by the EU Delegation in BiH with the involvement of the Ministries of Finance of the four levels of government. One consolidated report, including four separate PEFA reports for the four levels of government, was published. Read each of the Reports and Summary Scores in English and Bosnian: |
The fourth Bangladesh PEFA 2023 national assessment was conducted in response to the request of the Government of Bangladesh and included consultations with non-state actors, the private sector, and development partners. The World Bank and the Asian Development Bank (ADB) jointly provided technical quality assurance. Improvements in PFM performance compared to the previous evaluation included transparency of public finances and in the predictability and control in budget execution.
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OUR VIDEOS FROM PEFA |
In this video Srinivas Gurazada, Head of PEFA Secretariat, and Holy-Tiana Rame, Senior Public Finance Specialist, present how both PEFA and PEFA Climate focus on the importance of Supreme Audit Institutions (SAIs) and how SAIs could use both frameworks to inform their work. This presentation was delivered during the INTOSAI WGEA Webinar on PEFA and PEFA Climate for SAIs on March 14, 2024.
This video captures the livestreamed Global PFM Diagnostic Tools Conference and the PFM Tools Expo organized by the PEFA Secretariat on December 12, 2023 in Washington D.C. where the latest Stocktaking of PFM Diagnostic Tools Report key findings, global trends, and insights were presented by Helena Ramos and Antonio Blasco, Senior Governance Specialists, PEFA Secretariat.
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PFM GLOBALLY |
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Publications |
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The Legal Foundations of Public Debt Transparency: Aligning the Law with Good Practices Debt opacity burdens the public and can exacerbate debt vulnerabilities in many countries. Both low-income and developing countries and emerging market economies have critical gaps in debt transparency, and the implementation of international standards and guidelines has lagged. This recent IMF working paper surveys the legal frameworks of sixty jurisdictions and reveals the critical weaknesses that hinder debt transparency, which include weak reporting obligations, limited coverage of public debt, inadequate monitoring, unclear borrowing and delegation processes, unfettered confidentiality arrangements and weak accountability mechanisms. Because laws entrench practices and bind the discretion of policy makers and debt managers alike, subjecting them to public scrutiny, legal reform is a necessary part of any solution to the problem of hidden debt, though it may entail a difficult and time intensive process in many jurisdictions. Of interest to those working on: Pillar 2: Transparency of Public Finances Pillar 6: Accounting & Reporting Pillar 7: External Scrutiny & Audit
This ADB report outlines theories of change and indicators designed to enable gender-inclusive infrastructure investment in urban development, transport, energy, and water, sanitation, and hygiene. Designed to serve as a point of reference, it shows how better including the needs of women, increasing their role in decision-making, and raising stakeholder understanding can help deliver projects that work for everyone. Of interest to those working on: Pillar 4: Policy-Based Fiscal Strategy & Budgeting PEFA Gender |
How to Make the Management of Public Finances Climate-Sensitive–“Green PFM” This IMF How to Note develops the “green public financial management (PFM)” framework briefly outlined in an earlier Staff Climate Note (2021/002, published in August 2021). It illustrates how climate change and environmental concerns can be mainstreamed into the government’s institutional arrangements in place to facilitate the implementation of fiscal policies. It provides numerous country examples covering possible entry points for green PFM – phases in the budget cycle (strategic planning and fiscal framework, budget preparation, budget execution and accounting, control, and audit), the legal framework or issues that cut across the budget cycle, such as fiscal transparency or coordination with State Owned Enterprises or with subnational governments. This How to Note also summarizes practical guidance for implementation of a green PFM strategy, underscoring the need for a tailored approach adapted to country specificities and for a strong stewardship role of the Ministry of Finance. Of interest to those working on: Pillar 2: Transparency of Public Finances PEFA Climate
Revenue Administration Handbook This WBG publication provides a comprehensive overview of the structure and management of tax and customs administrations, covering topics such as tax policy design considerations that impact tax administration, institutional setup and strategic planning, analytical capacities and maturity models, core business processes, and tax sanctions. This practical manual provides examples from real-life World Bank projects so that policy makers, tax officials, information technology experts, and information and communication technology providers can better understand the needs of revenue administrations to design and implement the most appropriate technology solutions. Of interest to those working on: Pillar 1: Budget Reliability Pillar5: Predictability and control in budget execution |
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