Islamic Republic of Afghanistan: Technical Assistance Report-Strengthening Oversight over State-Owned Corporations, PPPs and Fiscal Risks
IMF Staff Country Reports, March 22, 2021
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- Islamic Republic of Afghanistan: Technical Assistance Report-Strengthening Oversight over State-Owned Corporations, PPPs and Fiscal Risks
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Bibliographic details
- Published: March 22, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513574530.002
Summary
- Remote mission provided the authorities with advice in fiscal risk management.
- The mission covered three interrelated topics:
- (i) the Public Finance and Expenditure Management (PFEM) Law and fiscal risks oversight and management;
- (ii) the Stated-Owned Corporations (SOC);
- (iii) the Public-Private Partnerships (PPP).
- The report focuses especially on reforms that could be implemented during the life of the next IMF program.
Major themes and substantive findings
- Fiscal risk management: advice centered on strengthening oversight and management under the PFEM Law framework.
- State-Owned Corporations (SOC): assessment and oversight of SOCs as contingent liability sources requiring stronger governance and monitoring.
- Public-Private Partnerships (PPP): evaluation of PPP frameworks and project-level risks with emphasis on legal and institutional arrangements to mitigate fiscal exposures.
Policy recommendations and reforms (focus: next IMF program)
- Implement reforms to strengthen fiscal risks oversight and management under the PFEM Law.
- Enhance SOC governance, transparency, and monitoring to limit and disclose contingent liabilities.
- Develop or refine PPP frameworks and project appraisal processes to better identify, allocate, and manage fiscal risks associated with PPPs.
- Prioritize reforms that are feasible within the timeframe of the next IMF program.
Content in this bundle
- 1afgea2021001 - PREFACE