Public Financial Management

INTERVIEW: Renaud SELIGMANN

Renaud Seligmann is currently Manager of the West and Central Africa Financial Management Unit at the World Bank. He oversees the Bank's involvement in public financial management, private sector accounting and auditing and operational financial management services for West and Central Africa.

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INTERVIEW: Richard ALLEN

RICHARD ALLEN is an economist and public finance expert. He is currently working as a consultant with the Internatonal Monetary Fund (IMF). Richard was a senior official of the U.K. Ministry of Finance (H.M. Treasury) until 1995.

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Drilling Down Public Financial Management Reform: Follow the Money

Most Public Financial Management (PFM) literature and analytical instruments naturally focus on government-wide systems and institutions. From the macro framework, to the budget cycle, to treasury operations, to financial reporting, controls and audit, the emphasis is largely on systems developed by ministries of finance

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PFM Reform

There is no generally agreed-upon definition of public financial management (PFM). However, according to the Organization for Economic Co-operation and Development (OECD), PFM includes all components of a country’s budget process— both upstream (including strategic planning, a medium-term expenditure framework, annual budgeting) and downstream.

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Public Procurement Reform in Iraq

Over the course of a six-year period from 2006-2011, the Government of Iraq (GOI), with support from the World Bank, undertook an ambitious effort to reform its public procurement system and legal framework. 

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