Fiscal Management of Scaled-Up Aid
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Summary:
This paper discusses the role of fiscal policy and fiscal institutions in managing scaled-up aid. In an environment of volatile scaled-up aid, fiscal policy formulation should be anchored in medium-term frameworks, incorporating a longer-term view of potential resource availability and spending plans. There is merit in smoothing expenditures over time so that all programs are adequately funded. The paper argues that wage-bill ceilings should be used in Fund-supported programs only in exceptional cases. The paper also discusses basic reforms for strengthening public financial management systems for effective utilization of scaled-up aid flows.
Series:
Working Paper No. 2007/222
Subject:
Budget execution and treasury management Budget planning and preparation Expenditure Fiscal accounting and reporting Public financial management (PFM)
English
Publication Date:
September 1, 2007
ISBN/ISSN:
9781451867862/1018-5941
Stock No:
WPIEA2007222
Pages:
64
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