Integrated Fiduciary Assessment

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  • 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
    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
    Kyrgyz Republic - Public Procurement System Assessment : Using the OECD-DAC/World Bank Methodology
    (Washington, DC, 2007-11-10) World Bank
    This procurement assessment provides a basis whereby the Government of the Kyrgyz Republic (GOK) can formulate a capacity-building plan to improve its purchasing system; donors can devise strategies for assisting the capacity development plan and mitigate risks in individual operations that they decide to fund; and the country can monitor system performance and the success of reform initiatives in improving outcomes. It incorporates results from analyses of procurement legislation and feedback from various stakeholders in the procurement system, including government agencies, procuring entities, consultants, contractors, suppliers, and representatives of civil society. The Public Procurement Law (PPL) of the Kyrgyz Republic took effect on May 24, 2004. The PPL provides for a decentralized procurement system. All users of central and local budgetary funds are now responsible for conducting procurement in accordance with the standards of the new law. Since the December 2002 Country Procurement Assessment Report (CPAR), several significant developments have occurred in the public procurement system of the Kyrgyz Republic. In the new PPL, the government implemented the majority of the Bank's recommendations. Although the PPL clearly assigns the procurement oversight and support roles to the State Agency on Public Procurement and Materials Reserve (SAPPMR), the agency is unable to fulfill these roles efficiently and objectively. It lacks adequate capacity. The SAPPMR must review and verify the information contained in tender and contract award notices to ensure that the information is accurate and in compliance with the PPL. The SAPPMR provides little guidance to procuring entities to ensure effective PPL implementation.
  • Publication
    Former Yugoslav Republic of Macedonia : Country Fiduciary Assessment
    (Washington, DC, 2007-08) World Bank
    This Country Fiduciary Assessment (CFA) follows upon the Country Financial Accountability Assessment (CFAA) issued in 2003 and the Country Procurement Assessment Report (CPAR) issued in 2002. Because procurement is integral to the concept of public financial management (PFM), this CFA integrates procurement and financial management assessment into a single report. The report has three objectives: first is to provide the Bank and other donors with an updated assessment of fiduciary progress since 2003. This includes: (i) fiduciary risk related to the budget environment in the former Yugoslav Republic of Macedonia; and (ii) need for supporting meaningful progress, possibly through future development policy lending instruments. The second objective is to assist the government in its commitment to Public Financial Management (PFM) reforms to secure more efficient and effective use of public sector resources. Finally, the third is to help the government measure progress in procurement reform by comparing operations with international standards, providing information to monitor system performance and identifying weaknesses.
  • Publication
    Tajikistan - Public Expenditure and Financial Accountability Assessment : Performance Report
    (Washington, DC, 2007-06) World Bank
    This assessment is based on work undertaken between October 2006 and May 2007. The summary assessment covers the following three areas: an integrated assessment of PFM performance based on the 28+3 PEFA indicators, an assessment of the impact of PFM weaknesses, and the prospects for reform planning and implementation. The main report consists of four sections: an introduction, the country background (including a summary of fiscal performance), a detailed discussion of Tajikistan's performance against the PEFA indicators, and finally a discussion of the government reform process.
  • 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.