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.

Monday, May 17, 2010

David Nummy Introduces First Day of ICGFM Spring Conference

ICGFM Conference Co-Chair, David Nummy, of Grant Thornton, introduced the agenda for "The New Normal", Exploring the Post-Financial Crisis World.

Mr. Nummy mentioned the content being broadcast on Twitter at http://twitter.com/icgfm (@icgfm) and http://twitter.com/icgfmprograms (@icgfmprograms). He encouraged conference members to participate in blogs and videography.

ICGFM uses audience participation using interactive voting. First survey results:

In what region of the world do you normally reside:
  • Africa 33%
  • Europe 3%
  • Asia/Pacific 12%
  • North America 38%
  • South America 14%
Is this the first ICGFM conference that you have attended?
  • Yes 49%
  • No 51%
77% of the audience comes from countries that receive donor assistance.

Mr. Nummy pointed out that an annual budget deficit of 3% has been considered fiscally responsible. He asked the audience how many G7 countries are running a budget deficit under 5% of GDP. The correct answer is one: Canada. He pointed out that 7% GDP budget deficit has been considered only for the most unstable countries. 4 countries of the G7 are running deficits higher than 7% of GDP : UK, US, Japan and France.

David Nummy is the executive director of the Grant Thornton global public-sector division. He was the managing director for fiscal accountability at the Millennium Challenge Corp. Prior to that, he was a senior adviser for budget policy and management with the U.S. Department of the Treasury for nearly 10 years, managing a worldwide program focusing on public-sector development in developing countries.

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