A Public Financial Management Roadmap for Forum Island Countries
- Matt Davies, Suhas Joshi and Sanjesh Naidu
- Jul 2010
- International Monetary Fund (IMF)
- International
Forum Island Countries (FICs) need to improve their public financial management to encourage growth and reduce poverty. An effective public financial management (PFM) system is essential to the functioning of government. It covers planning, collection, spending, reporting and audit of public monies and involves systems and staff in every agency of government. Governments need a strong PFM system to deliver the macroeconomic stability vital for sustainable growth and to enable efficient and effective service delivery.
This paper tells us about how Forum Island Countries (16 countries of the pacific islands) can -
- Why PFM is so important?
- How will the roadmap improve PFM in the Pacific?
- What has international experience taught the FIC and what does this mean for PFM reform objectives in the Pacific?
- Where to go: Practical, shared action plans derived from PEFA assessments.
- How to get there: Dedicated regional PEFA resources and coordinated donor support.
