A Public Financial Management Framework for Resources-Producing Countries
March 1, 2010
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Summary
This working paper overviews the challenges posed by resource revenues management and the policy prescriptions to meet them, and focuses on the Public Financial Management (PFM) framework and reforms that resource-producing countries should adopt. The paper outlines a PFM framework and reform path that take into account the institutional diversity of resource-producing countries. In the short term, the proposed reforms highlights the tools that could be implemented even where the PFM system is rather basic, while over the medium and long term they aim at converging with best international PFM practices.
Subject: Budget planning and preparation, Expenditure, Fiscal law, Fiscal policy, Public financial management (PFM), Resource management in revenue administration, Revenue administration
Keywords: accountability, Budget planning and preparation, country experience, Eastern Europe, Fiscal law, investment strategy, management law, PFM framework, PFM system, public financial management, resource curse, Resource management in revenue administration, resource revenue, Resource revenue management, resource-producing countries, resource-producing country, transparency, WP
Pages:
37
Volume:
2010
DOI:
Issue:
072
Series:
Working Paper No. 2010/072
Stock No:
WPIEA2010072
ISBN:
9781451982152
ISSN:
1018-5941
