Other Financial Accountability Study
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Publication
Improving Transparency and Accountability in Public-Private Partnerships: Disclosure Diagnostic Report - Islamic Republic of Afghanistan
(World Bank, Washington, DC, 2020-10)In May 2016, the World Bank published a Framework for Disclosure of Information in Public-Private Partnerships (PPPs), which provides a template for the preparation of a PPP Disclosure Diagnostic that assesses the transparency and accountability of PPP programs based on the disclosure of information. Between March 2020 and October 2020, a joint Government of the Islamic Republic of Afghanistan and World Bank team conducted a study on PPP disclosure in Afghanistan, using the World Bank’s PPP Disclosure Diagnostic template. This study led to the preparation of a PPP Disclosure Diagnostic Report (hereinafter ‘Diagnostic Report’) for Afghanistan. The Diagnostic Report examines the political, legal, and institutional environment for the disclosure of information on PPPs in Afghanistan. Based on these findings, benchmarked against the World Bank’s disclosure framework, the Diagnostic Report provides a gap assessment of the environment for PPP disclosure in Afghanistan. It makes specific recommendations to improve disclosure, including recommended customized guidelines for PPP disclosure in Afghanistan. The findings suggest that there has been some movement toward greater transparency and openness in all areas of government in Afghanistan, but that there is still scope for further progress given that relevant legal reforms are relatively new and still to be fully institutionalized. Article 50 of the 2004 Constitution of Afghanistan ensures that citizens ‘have the right of access to information’ from public institutions. This principle was enhanced substantially with the enactment of the Access to Information Law in 2014, which was subsequently revised in 2019.2 The law further guarantees access to information and aims to ‘ensure transparency, strengthen the culture of provision of information, promote people’s participation in good governance, ensure accountability in the conduct of institutions, and combat corruption’. -
Publication
Building Effective, Accountable, and Inclusive Institutions in Europe and Central Asia: Lessons from the Region
(World Bank, Washington, DC, 2020-06)Countries around the world are facing the need to build effective, accountable, and inclusive institutions. There has never been a more important moment to tackle this agenda, as countries grapple with increasing fragility and migration flows, more complex service delivery requirements, and greater demands for transparency and inclusion, all in a more resource-constrained environment. Moreover, the COVID-19 (Coronavirus) pandemic crisis has provided new evidence of the need for effective, accountable, and inclusive government responses. Governments’ capacity to respond to these complex challenges is understandably stretched, but this has not limited the rise of citizens’ expectations. Instead, it has often increased tensions and, in some cases, has affected the trust between governments and their citizens. This publication builds on the World Bank’s vast engagement across ECA and on the 2019 regional governance conference. It consists of six chapters, each corresponding to one of the governance areas around which governments across the world organize their institutional functions. Each chapter contains background and analysis by World Bank specialists, complemented by country case studies authored by regional experts and policymakers. -
Publication
Georgia Public Expenditure and Financial Accountability Performance Assessment Report: Municipality of Martvili
(World Bank, Washington, DC, 2018-10)The purpose of this PEFA assessment is to provide an objective analysis of the present performance of the PFM system in the Municipality of Martvili against the PEFA indicators. This PEFA establishes a PEFA baseline using the 2016 PEFA methodology. The assessment covers expenditures by subnational government budgetary units. Overall, the results of the PEFA show that public financial management systems in the Municipality of Martvili are strong in terms of budget execution and control as the country’s PFM reform action plan has been implemented. -
Publication
Georgia Public Expenditure and Financial Accountability Performance Assessment Report: City of Batumi
(World Bank, Washington, DC, 2018-10)The purpose of this PEFA assessment is to provide an objective analysis of the present performance of the PFM system in the City of Batumi against the PEFA indicators. This PEFA provides an assessment of PFM in the municipality and establishes a PEFA baseline using the 2016 PEFA methodology. The assessment covered expenditures by subnational government budgetary units. Revenues are collected by the Georgia Revenue Services on behalf of the municipality and this was considered not applicable. There are no extra-budgetary units and no local government below the municipality level. The assessment team visited the municipality from June 5 to 9, 2018 (fieldwork for the assessment). The financial years covered for indicators that required assessing over three years are 2015 to 2017. Overall, the results of the PEFA show that public financial management systems in the City of Batumi are strong and improved as the PFM Reform Action Plan has been implemented. The aggregate expenditure side of the budget performs largely according to plan. The Georgian Treasury consolidates cash balances in the treasury single account on a daily basis. A cash flow forecast is prepared annually for the year to come and is updated quarterly on the basis of actual inflows and outflows often due to relatively frequent supplementary budget. Budgetary units are able to plan and commit expenditure for one year in advance on the basis of quarterly ceilings, in accordance with the budgeted appropriations and commitment releases. An overriding feature of PFM in the Georgia both at the Central and Subnational levels of government has been the development and good use of Information Technology in budget preparation, budget execution (accounts, commitment control, and cash management), personnel and payroll, revenue services, and procurement. The application of the IT has been developed in-country based on business processes in each of the subject areas (redefined as necessary) and not on the reconfiguration of business practices to suit software. This adoption of IT solutions combined with the internet as a vehicle for its implementation by competent and trained personnel (with appropriate control) has been fundamental to the development of strengths in PFM. The integration of IT, internet and personnel has resulted in PFM’s positive effectiveness and efficiency. -
Publication
Georgia Public Expenditure and Financial Accountability Performance Assessment Report: City of Tbilisi
(World Bank, Washington, DC, 2018-10)The purpose of this Public Expenditure and Financial Accountability (PEFA) assessment is to provide an objective analysis of the present performance of the PFM system in the City of Tbilisi against the PEFA indicators. This PEFA provides an update of progress in PFM in the municipality since the last PEFA in 2014 and establishes a new PEFA baseline using the 2016 PEFA methodology. The assessment covered expenditures by subnational government budgetary units. Revenues are collected by the Georgia Revenue Services on behalf of the municipality and this was considered not applicable. There are no extra-budgetary units and no local government below the municipality level. Overall, the results of the PEFA show that public financial management systems in the City of Tbilisi are strong and improved as the PFM Reform Action Plan has been implemented. The aggregate expenditure side of the budget performs largely according to plan. There is an impressive array of information regarding the finances of the municipality. As a result, the budget documents include most of the basic, and much of the supplementary information, required to support a transparent budget process. Information on performance plans and achievements in service delivery outputs and outcomes across the sectors under the municipality is very good. However, a strategic selection process is lacking in managing the public investment program although monitoring and reporting of implementation is sound. Good progress has been made towards a comprehensive medium-term expenditure framework based on a program budgeting for results approach. There is an effective budget calendar although the issuance of ceilings could be made timelier. The legislature has sufficient time to carry out its scrutiny function. -
Publication
Republic of Kosovo Public Sector Revenues: Tax Policies, Tax Evasion, and Tax Gaps
(Washington, DC, 2014-06)Kosovo has a simple tax system and relatively low tax rates. A risky feature of Kosovo’s tax system is the high dependence on border taxes. In 2012, 71 percent of revenue was collected at the border in the form of trade taxes and value added tax (VAT) on imports. Shifting from border to domestic revenue collection is needed. The simple tax system can make it easier for the tax administration of Kosovo (TAK) to adjust direct taxes while encouraging labor market formality. Low domestic revenue collection suggests the presence of large tax gap - the difference between the amount the TAK should collect and the amount it actually does collect. The wider social and economic consequences of tax evasion are high. Finding ways to raise domestic revenue to compensate for the decline in border revenues is going to require actions on a number of fronts. First, strengthening the TAK’s capacity to increase compliance and reduce tax evasion, through judicial means. Second, reducing the informal economy will bring more firms and employees into tax net. Third, efforts can be made to increase revenues through existing taxes. Finally, policies that boost private sector growth, including an improved business climate, will help increase domestic production and therefore tax revenues. -
Publication
Moldova Health Transformation Project : Fiduciary Systems Assessment Report
(Washington, DC, 2014-03-31)The fiduciary systems assessment has been carried out in accordance with OP / BP 9.00 to determine whether the Program fiduciary systems provide reasonable assurance that the Program expenditures will be used appropriately to achieve their intended purposes. The findings of the fiduciary assessment conclude that the overall fiduciary and governance framework is adequate to support the implementation of the proposed Health Transformation Program for Results (HTP) and includes a summary table of the key risks and corresponding mitigation actions to be undertaken. The Program s fiduciary systems and institutions provide reasonable assurance that the financing under the Program is used for intended purposes, with due regard to the principles of economy, efficiency, effectiveness, transparency and accountability. Specifically, Moldova s fiduciary management systems for the Program (planning, budgeting, accounting, procurement, internal controls, funds flow, financial reporting, and auditing arrangements) provide a reasonable assurance on the appropriate use of Program funds and safeguarding of its assets. Furthermore, the Program s fiduciary management systems perform at a satisfactory level to support the achievement of Program results. -
Publication
Ukraine Strategy for Financial Services Consumer Protection and Financial Literacy (2012-17): Diagnostic Review and Action Plan, Volume 1. Main Findings and Recommendations
(World Bank, Washington, DC, 2012-04)Eight years of strong economic growth in Ukraine in 2000-2008, at an average of seven percent per year, ended with a sharp 15 percent decline in 2009. The national currency plummeted and the banking sector nearly collapsed, with non-performing loans increasing from 2.3 percent to 11.2 percent of total loans in 2008-2010. According to the 2010 USAID/FINREP financial literacy survey, 39 percent of adult Ukrainians are still unbanked and nearly half prefer holding savings in cash. Only 15 percent of consumers trust banks and just 6 percent trust investment funds or private pension funds. Only 17 percent believe in a fair resolution in a dispute with a financial institution. The Ukrainian authorities recognize that the financial system needs to be made more resilient to future crises and thus requires a substantial redesign of the legal and regulatory framework of consumer protection and market conduct in financial services. This World Bank's diagnostic review aims to help Ukraine design a 5-year strategy to strengthen financial consumer protection and financial education as the fundamentals for sustainable growth and deepening of the financial sector. The review is presented in two volumes. Volume I contains the main findings and recommendations of the review, and Volume II provides a detailed assessment of Ukraine's compliance with the international best practices summarized in the World Bank's Good Practices for Financial Consumer Protection. -
Publication
The Basel III Financial Architecture and Emerging Regulatory Developments in Macro Prudential Tools
(Washington, DC, 2012)This note reviews the main elements of the New Basel III global regulatory framework and its regulatory implications, as well as the menu of macro prudential regulatory options to consider for application to ensure more resilient banks and baking systems. -
Publication
Ukraine : System of Financial Oversight and Governance of State-Owned Enterprises
(Washington, DC, 2011-02-22)The report focuses on the system of financial oversight and governance of state-owned enterprises in Ukraine. State-owned enterprises (SOEs) continue to represent a significant share of Ukraine's economy, and play a dominant role in sectors such as rail, transport, utilities, energy and telecommunications. These enterprises play an important role for the government by remitting dividend payments to the national treasury to fund the country's development agenda. At the same time, these same enterprises government receive fiscal support through a transfer of budgetary resources, issuance of guarantees for enterprise debt, facilitation to lines of credit, and other financial instruments. Ukraine's SOE sector has a wide range of ownership and management schemes. The basic legal framework for SOE oversight, defined in the Commercial Code of Ukraine, provides for the delegation of responsibilities across several ministries/agencies. As a result, there are overlapping roles across different government institutions, and gaps with regard to active monitoring and oversight. In practice, the SOE oversight function of the line ministries is primarily exercised through a review of the reports submitted by the SOEs on the implementation of financial plans. However, the review is typically light, and its efficiency is undermined by the limited clarity of the operating objectives for SOEs, and limited usefulness of the performance management framework. Moreover, the underlying data used to measure performance indicators is not validated and its reliability is uncertain. Even though the current performance management framework can be improved, performance evaluations are not conducted for a substantial number of SOEs which seriously undermines the effectiveness of oversight.