PFM Blog

Is This Your Rainy Day?—Cash Management in Small Resource Dependent Economies

Blogmaster — Fri, 20 Nov 2009 14:03:38 PST

Posted by Tej Prakash Small economies where resource revenues are a significant part of the budget often face volatile inflows due to fluctuations in production, demand, and price. Hence, if the budget is based on a particular reference price for...

What They Don’t Teach You at University—Public Financial Management, for Example!

Blogmaster — Wed, 18 Nov 2009 11:30:24 PST

Posted by Dimitar Vlahov [1] It is easy to see that public financial management (PFM) employs many thousands, maybe even hundreds of thousands of people around the world. All professionals involved in the operation, management, development or review of budgetary...

Gender Budgeting—A New Handbook for Practitioners

Blogmaster — Mon, 16 Nov 2009 14:33:22 PST

Posted by Davina Jacobs Gender budgeting has in recent years moved from just being “fashionable” to having a “normative” impact on budget practices. In an earlier entry on this blog, I gave a short introduction to what gender budgeting means...

GAO Explains It All: Towards Enhanced Understanding of U.S .Government Financial Report

Blogmaster — Thu, 12 Nov 2009 13:54:35 PST

Posted by Abdul Khan Making sense of the finances of what the U.S. Government Accountability Office (GAO), without undue modesty, refers to as the “the most diverse, most complex, and arguably the most important entity on earth” is not meant...

Accountants to the Rescue! A Whole System Approach to PFM Architecture

Blogmaster — Thu, 12 Nov 2009 07:03:34 PST

Posted by Suzanne Flynn The UK based Chartered Institute of Public Finance and Accountancy (CIPFA) has issued an ambitious, but also a somewhat theoretic, draft consultation paper, with support from the UK’s Department for International Development (DFID) on what constitutes...

IMF Updates the Portal on Fiscal Transparency

Blogmaster — Fri, 06 Nov 2009 06:57:28 PST

Posted by Mario Pessoa Fiscal transparency is one of the most relevant elements of a modern public financial management system. Because of that, starting in the late 1990s, the IMF developed a code of good practices in fiscal transparency and...

CIPFA Consultation on International Architecture for Public Financial Management

Blogmaster — Thu, 05 Nov 2009 16:43:14 PST

Posted by Michel Lazare The Chartered Institute of Public Finance and Accountancy (CIPFA) is a UK-based global professional accountancy body that specialises in the public services. We have an active international strategy including PEFA and PFM training, professionalisation and consultancy....

Maintain Fiscal Support, but Devise Credible Exit Strategies, Says the IMF's Fiscal Monitor

Blogmaster — Wed, 04 Nov 2009 17:39:03 PST

Posted by Michel Lazare. On November 3, 2009, the IMF published the second issue of its Cross-Country Fiscal Monitor. This Fiscal Monitor stresses that while, fiscal policy will continue to provide substantial support to aggregate demand in most countries this...

Legislative Oversight and Budgeting – A World Perspective

Blogmaster — Mon, 02 Nov 2009 13:58:15 PST

Posted by Ian Lienert The legislature has three core functions—representation, lawmaking, and oversight. The oversight function is perhaps the least studied and practiced. This is perhaps because oversight is bolstered somewhat less by external institutions. Oversight involves assessing implementation processes....

Performance-Based Budgeting in France: An Evaluation by Parliament

Blogmaster — Fri, 30 Oct 2009 15:47:30 PDT

Posted by Franck Bessette. In France, the parliament was the initiator and driver of performance-based budgeting, introduced by the organic by-law of August 1, 2001 (the so-called Loi Organique sur les Finances Publiques -- LOLF) [for more details, see in...