Integrated Fiduciary Assessment

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  • Publication
    South Sudan Country Integrated Fiduciary Assessment, Volume 2. Public Finance Management Assessment
    (Washington, DC, 2012-06-01) World Bank
    The purpose of this Country Integrated Fiduciary Assessment (CIFA) is: (i) to assess the quality of public finance management and procurement systems in South Sudan; and (ii) to then determine the extent of fiduciary risk posed to domestic and external tax payers by the government's use of their funds through these systems. South Sudan has great potential for further increases in living standards, but achieving them will require large improvements in public services, both in access and in quality. In turn, Public Finance Management (PFM) and procurement systems need to be strengthened in order to improve public services; this will require linking spending more tightly to policy objectives and strengthening the operational efficiency of expenditures. In sum, strengthened PFM and procurement systems are not an end in themselves but, rather, the necessary means to achieving the ultimate objective: improved service delivery in South Sudan. This CIFA will be used by the Government of the Republic of South Sudan (GRSS) and by the country state governments to inform their design or reforms of PFM and procurement systems and, in the case of development partners, to inform their design or revision of technical and financial assistance programs and projects in support of the reforms.
  • Publication
    Republic of South Sudan : Country Integrated Fiduciary Assessment Southern Sudan, Volume 1. Main Report
    (Washington, DC, 2012-06) World Bank
    The purpose of this Country Integrated Fiduciary Assessment (CIFA) is: (i) to assess the quality of public finance management and procurement systems in South Sudan; and (ii) to then determine the extent of fiduciary risk posed to domestic and external tax payers by the government's use of their funds through these systems. South Sudan has great potential for further increases in living standards, but achieving them will require large improvements in public services, both in access and in quality. In turn, Public Finance Management (PFM) and procurement systems need to be strengthened in order to improve public services; this will require linking spending more tightly to policy objectives and strengthening the operational efficiency of expenditures. In sum, strengthened PFM and procurement systems are not an end in themselves but, rather, the necessary means to achieving the ultimate objective: improved service delivery in South Sudan. This CIFA will be used by the Government of the Republic of South Sudan (GRSS) and by the country state governments to inform their design or reforms of PFM and procurement systems and, in the case of development partners, to inform their design or revision of technical and financial assistance programs and projects in support of the reforms.
  • Publication
    Montenegro : Public Expenditure and Financial Accountability Assessment
    (Washington, DC, 2009-07) World Bank
    The purpose of the assessment is to provide the Montenegrin authorities with an internationally-recognized benchmark evaluation of the performance of the Montenegrin Public Financial Management (PFM) systems in order that they may thereafter consider the systems' strengths and weaknesses and develop strategies to strengthen them. The assessment comes at a critical juncture. After double-digit growth in 2007, economic growth has slowed considerably. On the fiscal side, the boom contributed to fiscal surpluses which cannot be sustained in the current economic climate and additional challenges in fiscal management have emerged. The potential to contain recurrent expenditure and implement institutional reforms on the integration path will require increasing efficiency in public administration. The management of the surge in tax and other revenues represented a special challenge for the government particularly given the significant revenues realized from the-one-off foreign investment in privatized state-owned enterprises. The level of public debt, which had steadily decreased over the past few years will be more difficult to contain, particularly in view of the highly pro-cyclical nature of economic policies. The PEFA assessment focuses primarily on the national level of a country's PFM system. PFM improvements now under consideration could contribute substantially in responding to those challenges.
  • Publication
    Paraguay : Integrated Fiduciary Assessment
    (Washington, DC, 2008-04) World Bank
    This Integrated Fiduciary Assessment (IFA) for Paraguay is an exercise in which the Government convened its development partners, including the World Bank (WB), Inter-American Development Bank (IDB), and the European Commission (EC) in a consultative process designed to establish an agenda on Public Financial Management (PFM) and Procurement (PR), and other related governance aspects. It is expected that this process will contribute to: i) identify key PFM & PR strengths and weaknesses of the central government of Paraguay, including those related to the management and implementation of the foreign financed (through grants and loans) public investment programs; and ii) prepare an action plan to guide future efforts in PFM and PR for all central government spending. Paraguay has made important progress in a number of governance areas in recent years. The World Bank Institute (WBI) governance indicators show some progress during the last decade. It is also seen that public services are being delivered more effectively, including in what attains to PFM and PR. Nevertheless, important challenges still remain, particularly in the area of curving down corruption. Paraguay ranked 111 out of 163 countries in transparency international's 2006 survey. The purpose of the IFA is to assess PFM and PR performance in Paraguay. It acknowledges the governance context and the corruption in particular, which affects both the PFM and PR but does not analyze them per se.
  • 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
    Serbia : Public Financial Management Assessment
    (Washington, DC, 2007-02-16) World Bank
    The primary objective of this Public Financial Management (PFM) assessment is to provide an assessment of the strengths and weaknesses of the PFM system in the Republic of Serbia, which can help the government to prioritize and measure progress in PFM reform. This assessment of Serbia's PFM performance is based on 28 indicators developed by Public Expenditure and Financial Accountability (PEFA) and organized around 6 pillars representing core dimensions of PFM performance. PFM performance, as measured by PEFA indicators, informs of key outcomes in public expenditure management (fiscal discipline, allocative efficiency, and operational performance). PEFA assessments provide snapshots of a country's PFM performance allowing for international comparisons. Repeated assessments aim at assisting governments in monitoring the progress of PFM performance over time. The scores are assigned in accordance with the interpretations and the scoring methodology provided by PEFA.