Integrated Fiduciary Assessment

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  • Publication
    Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report
    (World Bank, 2009-01-02) World Bank
    Mongolia's external economic outlook is dramatically changing as it faces sharp reductions in the copper price, caused by the financial crisis and global downturn. This compels the government now to drastically cut spending to prudently manage the budget. The budget is extremely dependent on mining revenues. Government is taking the right step in proposing a balanced budget for 2009. But further adjustments will be needed given the continuing fall in copper prices. A prudent fiscal stance will also be needed to manage inflation, which accelerated in the past year to over 30 percent. The current situation highlights the need to manage mining revenues better than in recent years. Mongolia saved little during the boom years, but instead dramatically increased expenditures on wages and salaries, and poorly-targeted social transfers. Adopting a multi-year fiscal framework-which enforces saving during the boom years, sets limits to expenditure growth and debt, and ensures transparency to the public-can help. Since much of the past windfall revenues have been spent, the country enters the down-turn with little savings and high inflation, forcing it to cut expenditures with every drop in the copper price. To avoid such situations in the future, the government has the opportunity to adopt a transparent, multi-year budget framework for expenditures and investment. This includes adopting a new fiscal responsibility law. It will ensure that the government saves during the 'boom' years, so that it can continue to spend during the 'bust' years. It will also set limits to expenditure growth and public debt. Within the limits set by this framework, parliament can then exercise its constitutional rights to amend the budget.
  • Publication
    Kyrgyz Republic : Country Fiduciary Assessment Update 2007
    (Washington, DC, 2007-11-10) World Bank
    This fiduciary assessment makes recommendations to strengthen public financial management in the Kyrgyz Republic, including procurement. This report takes stock of developments since 2002 within the Public Financial Management (PFM) Framework. It identifies the recommendations that have been implemented, and it lays out a road map to implement remaining reforms. It provides a basis upon which the Government of the Kyrgyz Republic (GOK) can formulate a capacity-building plan to improve its fiduciary system. Donors can use the results of this update in two ways: first, to develop strategies for assisting the capacity development plan; and second, to mitigate risks in individual operations. The country can use the information to monitor its fiduciary systems and the extent to which ongoing reform initiatives are improving performance. This assessment was prepared in close collaboration with government counterpart teams and other donors. The teams analyzed relevant pieces of legislation, gathered feedback through workshops, and conducted interviews with the Government, the private sector, and civil society. The report incorporates comments on earlier drafts and suggestions received from the government, including the Ministry of Finance (MOF), the Chamber of Accounts (COA), Ministry of Economic Development and Trade and the State Agency on Public Procurement and Materials Reserve (SAPPMR).
  • Publication
    India - Jharkhand : Public Financial Management and Accountability Study
    (Washington, DC, 2007-09) World Bank
    Jharkhand, India's youngest and 28th state came into existence in November 2000 pursuant to the reorganization of the erstwhile State of Bihar by the Bihar State Reorganization Act, 2000. More than 77 percent of the population of the state resides in rural areas and depends on agriculture for sustenance. Jharkhand is one of the richest states in the country in terms of mineral resources. Close to half of the gross domestic product (GSDP) of the state emanates from industry which includes mining, quarrying and registered manufacturing. But the high degree of industrialization has not resulted in a high level of income for the state. While the structure of the output indicates a high level of industrialization, the structure of employment reveals the predominance of agriculture. The purpose of this study is to make an objective assessment of the Public Financial Management and Accountability (PFMA) system of the state, identify its strengths and weaknesses and areas that may be in need of reforms and related capacity building. This study is a prerequisite to determining the precise nature and extent of any capacity building initiatives in Jharkhand. The study provides the Government a diagnostic tool for establishing priorities and to develop a baseline for monitoring future PFM performance of the state.
  • Publication
    Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 2. Public Expenditure Review
    (Washington, DC, 2007-06) World Bank
    This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.
  • Publication
    Democratic Republic of São Tomé and Príncipe : Country Integrated Fiduciary Assessment, Volume 1. Executive Summary
    (Washington, DC, 2007-06) World Bank
    This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.
  • Publication
    Democratic Republic of São Tomé and Príncipe Country Integrated Fiduciary Assessment : Volume 4. Country Financial Accountability Assessment and Evaluation of Ongoing Reforms
    (Washington, DC, 2007-06) World Bank
    This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.
  • Publication
    Nigeria - A Fiscal Agenda for Change : Public Expenditure Management and Financial Accountability Review, Volume 2. Executive Summary
    (Washington, DC, 2007-05-25) World Bank
    This report reviews the trends in expenditure patterns in public financial management (PFM) in Nigeria since 2001, and assesses the impact thus far of the ongoing government reform efforts. The public expenditure management and financial accountability review (PEMFAR) covers areas that have been traditionally undertaken by separate Bank reports such as the public expenditure reviews (PER), the country financial accountability assessment (CFAA), and the country procurement assessment review (CPAR). This analysis covers fiscal policies and performance at both federal and state government levels. The PEMFAR is a consolidated diagnostic tool designed to enhance Bank, development partners' and member countries' knowledge of PFM arrangements and reform challenges. The core objective of the Nigeria PEMFAR is to advise the Government (federal and participating states) on how (i) to better focus and sequence its PFM, including the procurement reform agenda within a broader economic reform framework, and (ii) identify directions and instruments of restructuring its expenditure patterns on both macro and sectoral levels. The PEMFAR also aims to inform international development partners on how they could provide more efficient support for the PFM reforms in Nigeria by identifying the main bottlenecks within the existing reform process.
  • Publication
    Nigeria - A Fiscal Agenda for Change : Public Expenditure Management and Financial Accountability Review, Volume I, Main report
    (World Bank, Washington, DC, 2007-05-25) World Bank
    This report reviews the trends in expenditure patterns in public financial management (PFM) in Nigeria since 2001, and assesses the impact thus far of the ongoing government reform efforts. The public expenditure management and financial accountability review (PEMFAR) covers areas that have been traditionally undertaken by separate Bank reports such as the public expenditure reviews (PER), the country financial accountability assessment (CFAA), and the country procurement assessment review (CPAR). This analysis covers fiscal policies and performance at both federal and state government levels. The PEMFAR is a consolidated diagnostic tool designed to enhance Bank, development partners' and member countries' knowledge of PFM arrangements and reform challenges. The core objective of the Nigeria PEMFAR is to advise the Government (federal and participating states) on how (i) to better focus and sequence its PFM, including the procurement reform agenda within a broader economic reform framework, and (ii) identify directions and instruments of restructuring its expenditure patterns on both macro and sectoral levels. The PEMFAR also aims to inform international development partners on how they could provide more efficient support for the PFM reforms in Nigeria by identifying the main bottlenecks within the existing reform process.
  • Publication
    Lao PDR : Public Expenditure Review Integrated Fiduciary Assessment
    (Washington, DC, 2007-05-15) World Bank
    The key challenge of the Lao People's Democratic Republic (Lao PDR) is to make full use of both physical and human assets to accelerate growth and improve the living standards of the population. To achieve the country's development goals, laid out in the sixth National Socioeconomic Development Plan (NSEDP) and the National Growth and Poverty Eradication Strategy (NGPES), improvements in public financial management and public expenditure policy aimed at increased efficiency, equity, and accountability - will be critical. This report assesses the current situation and provides a way forward. The report looks at public expenditure in the agriculture, roads, education, health, and environment sectors.
  • Publication
    Afghanistan - Managing Public Finance for Development : Volume 2, Improving Public Financial Management
    (Washington, DC, 2005-12) World Bank
    Afghanistan's reconstruction has made considerable progress during the past four years. Led by the Government with international support but relying mostly on the energy and initiative of the Afghan people, reconstruction has resulted in solid achievements -- rapid economic growth, unprecedented primary school enrollments including enrollments for girls, great expansion of immunization, rehabilitation of major highways, a new and stable currency, promulgation of a new Constitution, Presidential and Parliamentary elections, return of refugees, and demobilization of militias. Public finance management has made a major contribution to these successes. Yet the challenges remain enormous. The main objective of this Afghanistan Public Finance Management Review is to consolidate, deepen, and present in an accessible, action-oriented form the knowledge base on Afghanistan's public finance system, review recent progress, analyze key challenges, and put forward options and recommendations for moving forward. This main report is supplemented by four additional volumes, covering public finance management performance and procurement (Volume 2); key cross-cutting issues (Volume 3); selected sector studies (Volume 4); and security sector expenditures (Volume 5).