Public Financial Management: Principal Issues in Small Pacific Island Countries

February 1, 2002

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Format: Chicago

Klaus-Walter Riechel. Public Financial Management: Principal Issues in Small Pacific Island Countries, (USA: International Monetary Fund, 2002) accessed September 20, 2024

Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper discusses reform in public financial management in small, resource-constrained economies such as the Pacific island countries (PICs). It describes the efforts undertaken by PICs in the past and assesses their results. A principal conclusion is that reform in public financial management needs to be defined against the capacity of countries to sustain it at the national level. This requires a careful definition of priorities for action and the determination of appropriate pacing and sequencing of reform. In this decision, achievement of the imperatives of expenditure control and sustainability of deficits is typically more important than exploitation of the scope for efficiency gains promised by "cutting edge" public financial management systems.

Subject: Accrual accounting, Budget planning and preparation, Fiscal policy, Fiscal transparency, Public financial management (PFM)

Keywords: A number of management mechanism, Accounting, Accounting methodology, Accrual accounting, Australia and New Zealand, Budget planning and preparation, Budget system, Budget systems, Cash management, Country, Development budget, Economic reform, Fiscal policy, Forum country, Management, Pacific Islands, PDP, Public finance, Public financial management, Reform strategy, Small country issues

Publication Details

Pages:

21
Volume:

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DOI:

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Issue:

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Series:

Policy Discussion Paper No. 2002/001
Stock No:

PPIEA0012002
ISBN:

9781451974973
ISSN:

1564-5193

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