Impact of Financial Crisis on Ongoing PFM Reforms

Conference c0-chair David Nummy introduced today's theme at the 24th Annual ICGFM Conference. The conference theme is Public Financial Management in the Era of the New Normal - post financial crisis. The focus today will be on the impact of the financial crisis on ongoing PFM reforms. Mr. Nummy observed that PFM reforms have been accelerated because of the financial crisis. Government realize that improving governance, efficiency and effectiveness is necessary because of reduced government revenues.

50% of attendees believe that transparency and accountability is the most important reform initiative during this era of the "new normal".

Rakesh Verma received an award for the longest trip to ICGFM at 34 hours.

Second Day of 24th Annual ICGFM Conference Comes to an End

David Nummy, conference co-chair, summarized the second day of the Annual Conference in Miami. Mr. Nummy reflected on how countries reacted well to the financial crisis and the "new normal".

Innovation in the public sector was the primary theme of the afternoon sessions. But, the theme of the day, according to Mr. Nummy, is the acceleration of transparency in government based on the financial crisis.

Day 1 Wrap Up

David Nummy wrapped up the first day of the 24th Annual ICGFM Conference, Monday afternoon in Miami. The conference theme is "Public Financial Management in the Era of the New Normal", in the post-financial crisis. Mr. Nummy say a recurring theme of transparency. Transparency and accountability was a theme throughout: internal controls, sovereign debt, and foreign aid.

Best pictures from 24th Annual ICGFM Conference

the latest ICGFM hip-hop dance--used computer bag salesperson

David Nummy from Grant Thornton and the ICGFM Co-Chair, is the early leader in compelling pictures from the 24th Annual ICGFM Conference. Pictures are being uploaded throughout the conference to a photo set.

Government Performance is a Journey, not a Destination

Poetic, but true, admitted, David Nummy, in his summing up of the ICGFM Winter Conference, Impact in Managing Public Finance. The conference co-chair concluded that government performance is about continuous improvement.

Public finance professionals from over 30 countries presented case studies, discussed trends and participated in workshops to share best practices about government performance, results and outcomes at the Enrique Iglesias Conference Center of the Inter-American Development Bank.

Mr. Nummy, of Grant Thornton, described the increasing interest in performance frameworks in governments around the world. He concluded that government performance management is different among countries. The country context is important when designing performance frameworks. The process of moving from traditional budgeting to performance budgeting ranges between 4 and 8 years based on the experiences of the countries at the conference. The discipline and knowledge of government performance management is maturing. Performance frameworks have become an integral part of public financial management reform.

Economic Uncertainty Yields Opportunities to Advance Public Financial Management Reform

Jim Ebbitt, President of ICGFM, remarked on the knowledge sharing among members at the 23rd Annual Conference in Miami. During concluding remarks of the third day of the conference, Mr. Ebbitt remarked on the networking effect among members who have been sharing good practices.


Conference co-chair David Nummy concluded that the main lesson learned from the conference is that economic uncertainty yields opportunities to advance PFM reform.