Download or read book Fiscal Transparency Initiative written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-01-29 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper integrates into the Fiscal Transparency Code (FTC) a new fourth pillar (Pillar IV) on natural resource revenue management. This completes the pending update to the IMF's FTC, as set out by staff in 2014 (see IMF 2014a).

Download or read book Update on the Fiscal Transparency Initiative written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-06-18 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an update on staff’s work on a new Fiscal Transparency Code (FTC) and experiences with the initial pilot Fiscal Transparency Evaluations (FTE), the ground work for which was laid in a 2012 paper “Fiscal Transparency, Accountability, and Risk.” Both are part of ongoing efforts by the Fiscal Affairs Department, in cooperation with other departments, to strengthen the Fund’s fiscal surveillance and capacity building. The new FTC and FTE reflect the lessons of the recent crisis, incorporate developments in international standards, and build on feedback from consultations with stakeholders.

Download or read book Promoting Fiscal Transparency the Complementary Roles of the Imf Financial Markets and Civil Society written by Murray Petrie and published by International Monetary Fund. This book was released on 2003-10-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores initiatives to date by the IMF, financial markets, and civil society organizations to assess and utilize information on fiscal transparency. The results of surveys and interviews of rating agency analysts and surveys of civil society organizations on their level of awareness of, and use of IMF fiscal transparency assessments are presented. The paper then considers the relative roles of the IMF, the private sector, and civil society organizations in assessing and promoting fiscal transparency, and the scope for greater complementarity among their roles. The paper concludes with a number of suggestions for making the IMF's fiscal transparency initiatives more effective.

Download or read book Update on the Fiscal Transparency Initiative written by Internationaler Währungsfonds and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an update on staff's work on a new Fiscal Transparency Code (FTC) and experiences with the initial pilot Fiscal Transparency Evaluations (FTE), the ground work for which was laid in a 2012 paper 'Fiscal Transparency, Accountability, and Risk.' Both are part of ongoing efforts by the Fiscal Affairs Department, in cooperation with other departments, to strengthen the Fund's fiscal surveillance and capacity building. The new FTC and FTE reflect the lessons of the recent crisis, incorporate developments in international standards, and build on feedback from consultations with stakeholders.

Download or read book Fiscal Transparency Initiative written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-01-29 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper integrates into the Fiscal Transparency Code (FTC) a new fourth pillar (Pillar IV) on natural resource revenue management. This completes the pending update to the IMF's FTC, as set out by staff in 2014 (see IMF 2014a).

Download or read book Transparency in Government Operations written by Mr.J. D. Craig and published by International Monetary Fund. This book was released on 1998-02-03 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.

Download or read book Fiscal Transparency Initiative written by Jigawa State. Directorate of Budget and Economic Planning and published by . This book was released on 2018 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Transparency Accountability and Risk written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-07-08 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys that state of fiscal transparency in the wake of the current crisis and looks at what can be done to improve it. It examines the relationship between fiscal transparency and fiscal outcomes; reviews progress in promoting greater fiscal transparency over the past decade; considers the lessons of the recent crisis for existing fiscal transparency standards, practices, and monitoring arrangements; and makes a series of recommendations for renewing the global fiscal transparency effort in the wake of the crisis.

Download or read book EITI as an Instrument of Fiscal Transparency and Accountability in Contexts of Fragility and Violence written by Emmanuel Cuvillier and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal transparency is a vital requirement for effective fiscal policymaking. Budgets, including their underlying fiscal forecasts, must provide a clear statement of the government's budgetary objectives and policy intentions. Credible budgets also require comprehensive, timely, and reliable data about the evolution of public finances, which enables sound financial projections. The extractive industries transparency initiative (EITI) is a global standard for enhancing transparency and accountability in the governance of oil, gas, and mineral resources (that is, the extractive industries). It requires periodic public disclosures of information about a country's extractive industries. EITI also requires disclosure of financial data relating to extractive industries, such as reconciled figures of company payments and government revenues; revenue allocations and transfers; data on sector exports; and quantitative information about the contribution of the sector to the economy. Analyses of data disclosed through EITI, especially in countries dependent upon extractive industries, often enables the identification and delivery of key measures to strengthen fiscal accountability.

Download or read book Open Budgets written by Sanjeev Khagram and published by Brookings Institution Press. This book was released on 2013 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explicates political economy factors that have brought about greater transparency and participation in budget settings across Asia, Africa, and Latin America. This title presents the strategies, policies, and institutions through which improvements can occur and produce change in policy and institutional outcomes.

Download or read book Republic of Uzbekistan written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-05-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Fiscal Transparency Evaluation report highlights that Uzbekistan is embarking on a comprehensive reform program to strengthen public financial management and fiscal transparency. Wide-ranging reforms to improve the coverage, reliability, quality, and accessibility of fiscal reports are being developed and implemented, and some good progress already made. This assessment of fiscal transparency practices has been undertaken to support the government’s efforts to increase transparency by identifying priority areas for reform. An evaluation of practices against the IMF’s Fiscal Transparency Code (the Code) finds that tangible gains have been made over 2017 and 2018. In several areas where Uzbekistan’s practices do not currently meet the basic standard required under the Code, quick progress can be made. The report also provides a more detailed evaluation of Uzbekistan’s fiscal transparency practices and recommended reform priorities. Strengthening legislative oversight of the state budget with a view to reducing the extent to which in-year changes can be made to aggregate expenditures without prior parliamentary approval.

Download or read book Chile Fiscal Transparency Evaluation written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-11 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strong fiscal institutions have contributed to Chile’s macroeconomic stability, and recent reform initiatives have focused on enhancing these institutions and fiscal transparency. This report assesses fiscal transparency practices in Chile in relation to the requirements of the IMF’s Fiscal Transparency Code and confirms that many elements of sound fiscal transparency practices are already in place. Chile’s practices meet the principles of the code at a good or advanced level for 21 out of the 36 principles. This is a good score, compared to the average for Latin American Countries and Emerging Market Economies. On a further nine principles, Chile meets the basic standard of practice. Chile’s fiscal transparency practices are very strong for fiscal forecasting and budgeting, followed by fiscal reporting, while fiscal risk analysis and management demonstrate more mixed results. Further improvements could be achieved relatively easily through the publication of some internal analyses or through a more timely or user-friendly publication of already available information.

Download or read book Code of Good Practices on Fiscal Transparency revised April 2007 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-04-20 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF has revised its Code of Good Practices on Fiscal Transparency, following a public consultation process. Nine new practices have been added to the Code and many existing practices have been broadened in scope. The four pillars of the original Code remain unchanged: clarity of roles and responsibilities, open budget processes, public availability of information and assurances of integrity. The revised Code will be used in IMF surveillance and in voluntary assessments of fiscal transparency in member countries under the standards and codes initiative. Two associated documents - the Manual on Fiscal Transparency (2007) and the Guide on Resource Revenue Transparency (2007) - provide supporting in-depth coverage of good practices.

Download or read book Colombia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-05-15 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the Observance of Standards and Codes on Fiscal Transparency for Colombia. Colombia has made considerable progress in improving transparency in public finances. Major initiatives include: adoption of the Presidential Anti-Corruption Plan; improvement in the management of public banks; clarification of the expenditure responsibilities and resources among different levels of government; and introduction of modern accounting procedures. The legislative agenda now under way could lead to the adoption of important standards in the area of fiscal responsibility and transparency, as well as the integration and strengthening of territorial legislation.

Download or read book Portugal written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2014-10-06 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: EXECUTIVE SUMMARY Portugal’s practices meet most of the principles of the revised Fiscal Transparency Code at good or advanced levels. A number of areas still present practices at a basic level, but in most of these cases this reflects reforms that have recently been launched and have not yet been fully implemented so as to affect current practices. Indeed, if measured against the practices observed prior to the recent financial crisis, there has been remarkable progress. The challenge is to press ahead with the reform agenda so that all fiscal transparency practices meet good or advanced levels, thus strengthening even further the management of public finances and the associated risks. The key findings of the present Fiscal Transparency Evaluation are: • Fiscal reporting is in line with good or advanced practices, particularly in compliance with EU requirements and ESA 95 standards, but still lacks a sound conceptual accounting framework based on internationally accepted standards. • Fiscal forecasting and budgeting have improved over the last three years, although investment evaluation only meets the basic standard of the Code. • Reporting of fiscal risks is in its infancy and in spite of numerous initiatives undertaken in the last few years, such as the publication of a fiscal risk statement, remains fragmented. The large amount and good quality of information available allows a very preliminary and partial estimate of the public sector net worth and total risk exposure. An estimated negative net worth position of 140 percent of GDP (including the liabilities of the main defined-benefits employment-related pension scheme) and a sizeable exposure to various contingent liabilities, although some of these have a low probability of crystallizing, are reminders of the still fragile status of Portugal’s public finances.

Download or read book EITI as an Instrument of Fiscal Transparency and Accountability written by Emmanuel F. Cuvillier and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Transparency and accountability in sector governance are basic and essential requirements to leverage the extractives (oil, gas, and mining) sector as an engine of economic growth in fragility, conflict, and violence (FCV) affected settings. Enabling them involves two vital steps. Transparency requires obtaining or publishing relevant and actionable data about sector governance. Accountability involves having the data to support responsible, efficient, and informed sector governance. Although several mechanisms exist to facilitate transparent data disclosures, the extractive industries transparency initiative (EITI) is the preeminent global standard to promote the open and accountable management of oil, gas, and mineral resources. This governance note presents a case study about how data disclosed through EITI has been effectively leveraged to support more transparent and accountable fiscal governance in two FCV countries - Afghanistan and Iraq.

Download or read book Japan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2001-09-04 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides an assessment of fiscal transparency practices in Japan against the requirements of the IMF code of good practices on fiscal transparency. The responsibilities of different levels of government, and of the separate branches of government, are well defined. The coordination and management of fiscal activity is fairly effective. There are many respects in which Japan meets high standards of fiscal transparency. Recent initiatives have improved fiscal transparency. There is nevertheless room for major progress in key areas.