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Author: OECD Publisher: OECD Publishing ISBN: 926496830X Category : Languages : en Pages : 208
Book Description
This report analyses current public financial management practices in Peru in light of OECD recommendations and good practices, and identifies areas where Peru could improve. It focuses on four areas: budgetary practices and governance; treasury modernisation and cash management systems; ensuring a fiscally sustainable, competitive pay regime for the Peruvian public sector; and public infrastructure programming, budgeting and management.
Author: Weltbank Publisher: ISBN: Category : Languages : en Pages :
Book Description
The report based on the Public Expenditure and Financial Accountability (PEFA) methodology is to serve Peruvians authorities and officials as a baseline and reference for the monitoring of Management of Public Finances (GFP) in the country. Also, it feeds and updates the dialogue between the government and various agencies and bilateral development cooperation in the area of GFP, the achievements and shortcomings of reform processes that are underway or are proposed in the future. The report also helps these agencies to determine country eligibility for a new program budget support or, possibly, to verify compliance with general conditions or special disbursement of GFP linked to a program previously approved. In addition, the report fosters discussion on the formulation or revision of an integrated program of public finance or the development or revision of a support program for public finance and institutional coordination between different agencies.
Author: OECD Publisher: OECD Publishing ISBN: 926496830X Category : Languages : en Pages : 208
Book Description
This report analyses current public financial management practices in Peru in light of OECD recommendations and good practices, and identifies areas where Peru could improve. It focuses on four areas: budgetary practices and governance; treasury modernisation and cash management systems; ensuring a fiscally sustainable, competitive pay regime for the Peruvian public sector; and public infrastructure programming, budgeting and management.
Author: Mario Pessoa Publisher: International Monetary Fund ISBN: 1597822264 Category : Business & Economics Languages : en Pages : 403
Book Description
In recent years, the countries of Latin America have embraced reforms in public financial management and have made many important advances—however, many challenges remain. This book brings together IMF and IDB staff and representatives from 16 governments in the region to document these reforms, and to examine the experiences and lessons learned. It is a valuable resource for those looking at issues in public financial management.
Author: International Monetary Fund. Western Hemisphere Dept. Publisher: International Monetary Fund ISBN: 1513595504 Category : Business & Economics Languages : en Pages : 98
Book Description
This paper assesses Peru’s fiscal transparency practices in comparison with the IMF’s Fiscal Transparency Code, including the new draft pillar on resource revenue management. Peru’s practices meet most of the principles of the IMF’s Fiscal Transparency Code at good or advanced level. The country provides an extensive set of fiscal information with financial statements covering the entire public sector. There is a comprehensive budget supported by a solid fiscal framework with clear policy objectives embedded in numerical fiscal rules. The country also has a clear and comprehensive legal and fiscal regime for the management of resource revenue.
Author: Publisher: ISBN: 9789264854345 Category : Languages : en Pages : 0
Book Description
This report analyses current public financial management practices in Peru in light of OECD recommendations and good practices, and identifies areas where Peru could improve. It focuses on four areas: budgetary practices and governance; treasury modernisation and cash management systems; ensuring a fiscally sustainable, competitive pay regime for the Peruvian public sector; and public infrastructure programming, budgeting and management. It analyses these issues both at central government level and for sub-national governments. The report provides detailed policy recommendations to overcome the main challenges and their implications in each of the areas.
Author: Jens Kromann Kristensen Publisher: World Bank Publications ISBN: 146481466X Category : Business & Economics Languages : en Pages : 168
Book Description
This project, based on the Public Expenditure and Financial Accountability (PEFA) data set, researched how PEFA can be used to shape policy development in public financial management (PFM) and other major relevant policy areas such as anticorruption, revenue mobilization, political economy analysis, and fragile states. The report explores what shapes the PFM system in low- and middle-income countries by examining the relationship between political institutions and the quality of the PFM system. Although the report finds some evidence that multiple political parties in control of the legislature is associated with better PFM performance, the report finds the need to further refine and test the theories on the relationship between political institutions and PFM. The report addresses the question of the outcomes of PFM systems, distinguishing between fragile and nonfragile states. It finds that better PFM performance is associated with more reliable budgets in terms of expenditure composition in fragile states, but not aggregate budget credibility. Moreover, in contrast to existing studies, it finds no evidence that PFM quality matters for deficit and debt ratios, irrespective of whether a country is fragile or not. The report also explores the relationship between perceptions of corruption and PFM performance. It finds strong evidence of a relationship between better PFM performance and improvements in perceptions of corruption. It also finds that PFM reforms associated with better controls have a stronger relationship with improvements in perceptions of corruption compared to PFM reforms associated with more transparency. The last chapter looks at the relationship between PEFA indicators for revenue administration and domestic resource mobilization. It focuses on the credible use of penalties for noncompliance as a proxy for the type of political commitment required to improve tax performance. The analysis shows that countries that credibly enforce penalties for noncompliance collect more taxes on average.
Author: Weltbank Publisher: ISBN: Category : Languages : en Pages :
Book Description
This Country Financial Accountability Assessment (CFAA) report, looks exclusively at Peru's public sector financial accountability arrangements, and, its primary aim is to assess strengths, and weaknesses, as they relate to the use of Bank funds, particularly under non-investment lending operations. It reviews the legislative framework, relevant to the current reporting environment; the application of appropriate accounting standards, and reporting format, competency of financial staff, and independent review of financial operations and reports, and, the adequacy of financial management, as implied in financial accountability, comprising cash management, planning, control, and supervision of financial operations. Findings and conclusions on the fiduciary framework shows that, as shown by the independent verification of the integrity function assigned under the law to the Supreme Audit Institution (Contraloria General de la Republica - CGR), is undermined by the Executive, through limited funding of its program, while the history of reviews by the CGR indicates a failure to effect, or supervise the external control function in the Ministry of Defense. Furthermore, audit findings reveal that neither the Congress, nor the public is adequately informed on the state of control in the executive branch, suggesting performance auditing should be subject to a cost/benefit analysis, and discussed openly with Congress. Although Peru is considered exemplary in the application of public sector financial management components, its fiduciary framework to support non-investment lending should, however, comprise, in addition to the existing controls, a plan to achieve a strong supreme audit institution to support the extension of the integrated financial management system to the ministries of Defense and the Interior, to ultimately support the uses of funds advanced, and, the external reporting on budget execution should be made at the program level, in addition to restoring the control over Budget to the Congress, limiting the use of Emergency Decrees, and applying transparent guidelines for approved budget funding.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451830998 Category : Business & Economics Languages : en Pages : 38
Book Description
The public sector in Peru is clearly distinguished from the rest of the economy, but the existence of various legal and statistical definitions of the government makes it difficult to demarcate it clearly from the rest of the public sector. The recent constitutional reform has strengthened the decentralization process, but key fiscal aspects have yet to be defined. The current distribution of fiscal responsibilities between the central government and local governments is legally defined, but the allocation of expenditure responsibilities and intergovernmental transfers need further clarification.
Author: Omowunmi Ladipo Publisher: World Bank Publications ISBN: 0821379852 Category : Business & Economics Languages : en Pages : 130
Book Description
Fiscal discipline and public sector efficiency became prominent issues in Latin America and the Caribbean in the late 1980's following external debt crises that troubled many countries in the region. Resolution of the debt crises necessitated a first wave of reforms that largely focused on upgrading legal and regulatory frameworks or improving information systems. Nearly twenty years later progress in matching OECD practices and performance in public financial management and procurement has been uneven and has been one of the factors that impeded higher growth and competitiveness in Latin America and the Caribbean. Countries such as Chile, Brazil and Costa Rica with relatively good performance, in this respect, have shown what other countries in the region can do and how they would benefit. Increased globalization, seemingly intractable issues of income inequality, the onset of the recent global financial crises and the emergence of an assertive middle class that demands better governance, are all reasons why Latin America and the Caribbean governments should closely examine incomplete financial management and procurement reform programs and embark on trajectories that will improve their performance and be better responsive to the needs of their citizens. This book sets out, based on more than a decade of World Bank diagnostics, key areas that remain to be addressed by governments in the Latin America and the Caribbean region to underpin sustainable arrangements that deliver efficient and effective services, which are accountable to citizens. Success will have the important additional benefit of serving to notify international financial markets of the integrity of their stewardship function.
Author: OECD
Author: Weltbank
Author: OECD
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Author: Mario Pessoa
Author: International Monetary Fund. Western Hemisphere Dept.
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Author: Jens Kromann Kristensen
Author: Weltbank
Author: International Monetary Fund
Author: Omowunmi Ladipo