## Antigua and Barbuda: Public Expenditure and Financial Accountability (PEFA) Performance Assessment

_IMF Staff Country Reports, February 4, 2015_

## Source details

**Canonical URL:** [Antigua and Barbuda: Public Expenditure and Financial Accountability (PEFA) Performance Assessment](https://www.imf.org/en/publications/cr/issues/2016/12/31/antigua-and-barbuda-public-expenditure-and-financial-accountability-pefa-performance-42679)

## Other formats

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## Bibliographic details
- Published: February 4, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498356091.002

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### Purpose and scope
- Objective: provide an objective analysis of the present performance of the public financial management system in Antigua and Barbuda and identify changes incurred since the last PEFA assessment undertaken in 2010.
- Publication date: February 4, 2015
- Publication series and identifiers:
  - IMF Staff Country Reports
  - Country Report No. 2015/027
  - Issue: 027
  - Volume: 2015
  - Pages: 96
  - DOI: https://doi.org/10.5089/9781498356091.002
  - Stock No: 1ATGEA2015001
  - ISBN: 9781498356091
  - ISSN: 1934-7685

### Major findings
- Fiscal outcomes in the wake of a prolonged economic crisis have not been consistent with the budget as approved.
- Central government public finances are comprehensively presented in budget documents, but important weaknesses remain.
- New policy initiatives and their budgetary implications are not sufficiently analyzed.
- A significant share of extra-budgetary expenditures remains unreported.
- Oversight and reporting requirements of statutory bodies are not yet fully enforced, impeding a comprehensive assessment of the associated fiscal risks.
- Revenue administration has been strengthened over the last years.
- Control over budget execution is still weak.
- There have been improvements in the quality of external audit.
- Lack of Parliamentary scrutiny undermines the accountability framework.

### Subject areas and keywords (as listed)
- Subject: Auditing, Budget planning and preparation, Expenditure, Financial statements, Public financial management (PFM)
- Keywords: annual budget, Auditing, Budget planning and preparation, capital budget, capital expenditure, Caribbean, central government, collection ratio, CR, debt management, deficit financing, Financial statements, fiscal year, internal audit, ISCR, reform program

### Areas highlighted for attention (implicit reform priorities drawn from findings)
- Ensure alignment of fiscal outcomes with the approved budget through strengthened budget execution controls.
- Improve analysis of new policy initiatives and fully assess their budgetary implications.
- Increase transparency by reporting a significant share of extra-budgetary expenditures.
- Enforce oversight and reporting requirements for statutory bodies to enable comprehensive assessment of fiscal risks.
- Sustain and build on strengthened revenue administration.
- Enhance Parliamentary scrutiny to strengthen the accountability framework.
- Continue to improve the quality and utility of external audit and internal audit functions.

*International Monetary Fund. Antigua and Barbuda: Public Expenditure and Financial Accountability (PEFA) Performance Assessment, IMF Staff Country Reports 2015, 027 (2015).*

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## Content in this bundle

- [Cr1527 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2015/_cr1527.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/antigua-and-barbuda-public-expenditure-and-financial-accountability-pefa-performance-42679_