ICGFM Promotes Knowledge Transfer Among Public Financial Management Experts

Working globally with governments, organizations, and individuals, the International Consortium on Governmental Financial Management is dedicated to improving financial management by providing opportunities for professional development and information exchange.

Wednesday, May 21, 2008

Public Financial Management is the Core of the Core for Governance

Originally uploaded by ICGFM

Jim Brumby of the World Bank says that PEFA has been mainstreamed at the World Bank. PEFA (Public Expenditure and Financial Expenditure) also provides an opportunity for dialog among countries and with donors. Mr. Brumby also asserted that public financial management is the "core of the core" for governance at the World Bank.

Countries like to compare with other countries and see the rate of progress over time. This leverages the objective comparitive information available through PEFA. PEFA also provides discipline in the World Bank to improve internal processes.

Mr. Brumby (standing)said that the country needs to be "in the driver's seat" for PEFA to be effective.

Case studies from Mali, Malawi and Columbia were presented by husitha D. Pilapitiya of Casals & Associates (left). Dr. Miguel Angel Moralesrussi Russi, the Controller of Bogota Colombia, (near right) andJohn Sitton of Emerging Markets Group, (far right). Reference was made to the presentation from the previous day.
(Located at http://icgfm.blogspot.com/2008/05/introduction-to-pefa-framework-to.html)

Mr. Brumby says that the HR indicators from the PEFA model are being piloted at the World Bank.

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