Publication: Agile Treasury Operations During COVID-19
Loading...
Date
2020-04-16
ISSN
Published
2020-04-16
Author(s)
Editor(s)
Abstract
Agile treasury operations are critical and essential to support responses to the spread and treatment of coronavirus disease 2019 (COVID-19). In many cases, this approach requires open and new ways of thinking ranging from making cash available to pay for public services, to processing and disbursing payments with minimum bureaucratic layers, to reporting in a timely and accurate manner to ensure transparency. Organized around three core areas of treasury operations, this note provides suggestions and guidance in three action areas: Ensure business continuity for treasury operations. Operationalize emergency arrangements. Manage the post-pandemic environment – recovery, reconstruction, and resilience.
Link to Data Set
Citation
“World Bank. 2020. Agile Treasury Operations During COVID-19. © World Bank. http://hdl.handle.net/10986/33649 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Protecting Productive Assets During the COVID-19 Pandemic(World Bank, Washington, DC, 2020-04-23)In understanding the economics of COVID-19, it is useful to start decomposing the issue in four parts: (i) the public health problem, i.e., the characteristics of the disease and its epidemiology; (ii) the impact of the disease on economic activity; (iii) the connection between the two; and (iv) the economic policy solutions to what has fast become a global pandemic that threatens to destroy the economic and social fabric of modern society. As of now, the infection is spreading aggressively in Europe and the U.S, with vast pockets of highly infected areas in Italy, Spain, and several U.S. states (New York, New Jersey, California, Washington and Texas). Many of these areas are in lockdown, with only essential businesses operating, such as food stores, pharmacies and gas stations. China has, as of today, shut its borders to foreigners after a recent spike in new infections imported from abroad. Epidemiologists suggest that even after the eventual peak and slowdown, a second wave might take place.Publication COVID-19 Revenue Administration Implications(World Bank, Washington, DC, 2020-07-14)This note brings together the thinking that is occurring in global and regional teams on governance and institutional approaches to dealing with Coronavirus 2019 (COVID-19), with a focus on revenue administrations. It presents the governance and institutional reforms that can support revenue administration responses to COVID-19. The pandemic will bring a new normal where work practices should change. Usually, shocks trigger responses, and one of the responses here can be automatization of tax and customs services over the medium term, and a massive acceleration in the use of digital and virtual technologies.Publication E-GP Functional Specifications(World Bank, Washington, DC, 2007-04)Authorities in developed and newly developing countries alike have been seeking to reform and strengthen the governance and management frameworks around their systems of public procurement. Their objectives have been to enhance effective management, reduce the risk of corruption, promote economic activity, and strengthen policy and strategic development. Increasingly an important part of these reforms has become the systematic application of technology to the processes of public procurement, including in the advertising of business opportunities, management of information and workflows, document delivery, purchase orders and transactions. This systematic application of technology to government procurement, or e-Government Procurement (e-GP), can lead to a substantial automation of the procurement process but requires significant reforms and process improvements in the management of procurement. These reforms have seen the introduction of new procurement laws and regulations, the introduction of new training for public procurement officers, changes in management procedures including standardization and simplification, and enhanced competition for government procurement opportunities. However one key issue deserves further attention namely defining the functional specifications of the e-GP system that is to be acquired or built, this is the subject of this paper. This paper seeks to give guidance on what functions and qualities they could seek from their e-GP system, or if they are engaging a third party provider then this may also give guidance on what capabilities they might require in their service level agreementPublication The Global Opportunity in IT-Based Services : Assessing and Enhancing Country Competitiveness(World Bank, 2010)This book aims to help policy makers take advantage of the opportunities presented by increased cross-border trade in information technology (IT) services and IT-enabled services (ITES). It begins by defining the two industries and estimating the potential global market opportunities for trade in each. Then it discusses economic and other benefits for countries that succeed in these areas, along with factors crucial to the competitiveness of a country or location, including skills, cost advantages, infrastructure, and a hospitable business environment, and examines the potential competitiveness of small countries and of least developed countries specifically. The volume also discusses policy options for enabling growth in the IT services and ITES industries. Appendix A introduces the Location Readiness Index (LRI), a modeling tool to help countries assess their IT and ITES industries. Finally, appendix B presents an analysis of the IT and ITES industries in Indonesia and Kenya as an illustrative application of the LRI.Publication Response to COVID-19 in Europe and Central Asia(World Bank, Washington, DC, 2020-05-08)The Europe and Central Asia (ECA) Education Team's vision is for education systems to empower all to reach their full potential. In line with this vision, the purpose of this guidance note is to provide recommendations and policy advice for decision-makers on potential education responses to the COVID-19 crisis. The note includes measures for mitigating learning losses and preparedness for school re-openings and/or a second wave based on the following scenarios: (i) schools remain closed until the end of June and reopen in July allowing for the possibility of summer school; and (ii) schools remain closed through the summer, reopening for the next school year but with protracted disruptions.
Users also downloaded
Showing related downloaded files
Publication South Asia Development Update, April 2024: Jobs for Resilience(Washington, DC: World Bank, 2024-04-02)South Asia is expected to continue to be the fastest-growing emerging market and developing economy (EMDE) region over the next two years. This is largely thanks to robust growth in India, but growth is also expected to pick up in most other South Asian economies. However, growth in the near-term is more reliant on the public sector than elsewhere, whereas private investment, in particular, continues to be weak. Efforts to rein in elevated debt, borrowing costs, and fiscal deficits may eventually weigh on growth and limit governments' ability to respond to increasingly frequent climate shocks. Yet, the provision of public goods is among the most effective strategies for climate adaptation. This is especially the case for households and farms, which tend to rely on shifting their efforts to non-agricultural jobs. These strategies are less effective forms of climate adaptation, in part because opportunities to move out of agriculture are limited by the region’s below-average employment ratios in the non-agricultural sector and for women. Because employment growth is falling short of working-age population growth, the region fails to fully capitalize on its demographic dividend. Vibrant, competitive firms are key to unlocking the demographic dividend, robust private investment, and workers’ ability to move out of agriculture. A range of policies could spur firm growth, including improved business climates and institutions, the removal of financial sector restrictions, and greater openness to trade and capital flows.Publication Business Ready 2024(Washington, DC: World Bank, 2024-10-03)Business Ready (B-READY) is a new World Bank Group corporate flagship report that evaluates the business and investment climate worldwide. It replaces and improves upon the Doing Business project. B-READY provides a comprehensive data set and description of the factors that strengthen the private sector, not only by advancing the interests of individual firms but also by elevating the interests of workers, consumers, potential new enterprises, and the natural environment. This 2024 report introduces a new analytical framework that benchmarks economies based on three pillars: Regulatory Framework, Public Services, and Operational Efficiency. The analysis centers on 10 topics essential for private sector development that correspond to various stages of the life cycle of a firm. The report also offers insights into three cross-cutting themes that are relevant for modern economies: digital adoption, environmental sustainability, and gender. B-READY draws on a robust data collection process that includes specially tailored expert questionnaires and firm-level surveys. The 2024 report, which covers 50 economies, serves as the first in a series that will expand in geographical coverage and refine its methodology over time, supporting reform advocacy, policy guidance, and further analysis and research.Publication Remarks at the United Nations Biodiversity Conference(World Bank, Washington, DC, 2021-10-12)World Bank Group President David Malpass discussed biodiversity and climate change being closely interlinked, with terrestrial and marine ecosystems serving as critically important carbon sinks. At the same time climate change acts as a direct driver of biodiversity and ecosystem services loss. The World Bank has financed biodiversity conservation around the world, including over 116 million hectares of Marine and Coastal Protected Areas, 10 million hectares of Terrestrial Protected Areas, and over 300 protected habitats, biological buffer zones and reserves. The COVID pandemic, biodiversity loss, climate change are all reminders of how connected we are. The recovery from this pandemic is an opportunity to put in place more effective policies, institutions, and resources to address biodiversity loss.Publication Economic Recovery(World Bank, Washington, DC, 2021-04-06)World Bank Group President David Malpass spoke about the world facing major challenges, including COVID, climate change, rising poverty and inequality and growing fragility and violence in many countries. He highlighted vaccines, working closely with Gavi, WHO, and UNICEF, the World Bank has conducted over one hundred capacity assessments, many even more before vaccines were available. The World Bank Group worked to achieve a debt service suspension initiative and increased transparency in debt contracts at developing countries. The World Bank Group is finalizing a new climate change action plan, which includes a big step up in financing, building on their record climate financing over the past two years. He noted big challenges to bring all together to achieve GRID: green, resilient, and inclusive development. Janet Yellen, U.S. Secretary of the Treasury, mentioned focusing on vulnerable people during the pandemic. Kristalina Georgieva, Managing Director of the International Monetary Fund, focused on giving everyone a fair shot during a sustainable recovery. All three commented on the importance of tackling climate change.Publication Media and Messages for Nutrition and Health(World Bank, Washington, DC, 2020-06)The Lao People’s Democratic Republic (Lao PDR) has experienced rapid and significant economic growth over the past decade. However, poor nutritional outcomes remain a concern. Rates of childhood undernutrition are particularly high in remote, rural, and upland areas. Media have the potential to play an important role in shaping health and nutrition–related behaviors and practices as well as in promoting sociocultural and economic development that might contribute to improved nutritional outcomes. This report presents the results of a media audit (MA) that was conducted to inform the development and production of mass media advocacy and communication strategies and materials with a focus on maternal and child health and nutrition that would reach the most people from the poorest communities in northern Lao PDR. Making more people aware of useful information, essential services and products and influencing them to use these effectively is the ultimate goal of mass media campaigns, and the MA measures the potential effectiveness of media efforts to reach this goal. The effectiveness of communication channels to deliver health and nutrition messages to target beneficiaries to ensure maximum reach and uptake can be viewed in terms of preferences, satisfaction, and trust. Overall, the four most accessed media channels for receiving information among communities in the study areas were village announcements, mobile phones, television, and out-of-home (OOH) media. Of the accessed media channels, the top three most preferred channels were village announcements (40 percent), television (26 percent), and mobile phones (19 percent). In terms of trust, village announcements were the most trusted source of information (64 percent), followed by mobile phones (14 percent) and television (11 percent). Hence of all the media channels, village announcements are the most preferred, have the most satisfied users, and are the most trusted source of information in study communities from four provinces in Lao PDR with some of the highest burden of childhood undernutrition.