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Book Synopsis Maldives: Technical Assistance Report-Fiscal Transparency Evaluation by : International Monetary
Download or read book Maldives: Technical Assistance Report-Fiscal Transparency Evaluation written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-23 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reflecting an ongoing commitment to enhancing fiscal transparency, Maldives is the first small island state, and the second country in Asia, to have undertaken a Fiscal Transparency Evaluation (FTE). The Government of the Maldives (GoM) recognizes the importance of transparency in fiscal management and in delivering on its ambitious policy agenda, while responding to current challenges within a tight fiscal environment. This report assesses fiscal transparency practices in Maldives against the first three pillars of the IMF’s Fiscal Transparency Code (FTC).
Book Synopsis Maldives: Technical Assistance Report-Revising the Fiscal Responsibility Act by : International Monetary
Download or read book Maldives: Technical Assistance Report-Revising the Fiscal Responsibility Act written by International Monetary and published by International Monetary Fund. This book was released on 2022-01-14 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fiscal Responsibility Act (FRA) came into effect in 2013 to reduce rising public debt and achieve fiscal stability. Maldives has experienced rapid public debt accumulation over the past decade. The FRA establishes objectives for maintaining debt at a sustainable level and reducing the overall fiscal balance. The Act also sets minimum standards for fiscal transparency and accountability and requires the Government to prepare and publish medium-term fiscal and debt strategy reports.
Book Synopsis Malta by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Malta written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2018-09-27 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malta meets a large number of the principles of the Fiscal Transparency Code at good or advanced level. Based on the assessment made in this report, Malta meets the good or advanced practice on 21 out of 35 principles in the Code. One principle, related to natural resources, was not relevant to Malta and therefore not assessed. Malta meets the basic practice on a further 12 principles (Table 0.1). Practices are stronger in the areas of fiscal reporting and fiscal forecasting and budgeting, where Malta is subject to and complies with the comprehensive reporting framework established by the European Union. Practices are generally weaker in the area of fiscal risk analysis and management, notably oversight of public corporations.
Book Synopsis Republic of Estonia: Technical Assistance Report-Fiscal Transparency Evaluation by : International Monetary
Download or read book Republic of Estonia: Technical Assistance Report-Fiscal Transparency Evaluation written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-06 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The government of Estonia places a high importance on openness and transparency, both for their citizens and for regional and international partners. This is evidenced from various earlier reports on transparency and the implementation of many subsequent improvements in fiscal transparency practices. The objective of the assessment was to identify areas of fiscal risk vulnerabilities and reform priorities to ensure further improvements in transparent practices.
Book Synopsis Georgia by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Georgia written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2024-03-25 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report updates the Fiscal Transparency Evaluation for Georgia published in 2017. Over the past six years, Georgia has taken significant steps to address the transparency gaps identified in the 2017 assessment. Fiscal reporting has become more comprehensive through an increased coverage of public entities, and the publishing of annual financial statements for the central government since 2020. Improvements in fiscal forecasting and budgeting include, but are not limited to, the recalibration and adoption of a new set of fiscal rules and the reconciliation and explanation of changes to the government’s previous forecasts. Fiscal risk analysis and management has been expanded to comprise a wider set of risks, and at the same time undertaking more complex analytical exercises, including of long-term risks. The updated evaluation identified gaps that the country should address to continue improving transparency, including further increasing the coverage of fiscal reports or strengthening the external oversight of the government’s financial position, among others.
Book Synopsis Maldives: Technical Assistance Report—Estimating Tax Expenditures by : International Monetary
Download or read book Maldives: Technical Assistance Report—Estimating Tax Expenditures written by International Monetary and published by International Monetary Fund. This book was released on 2021-10-20 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Maldives has identified the estimation and regular reporting of tax expenditures (TEs) as one of the top priority areas in continuing its tax modernization process. TEs are alternative policy tools (e.g., to direct transfers and other spending measures) in the form of provisions in the tax legislation that modify the tax liability of individuals or companies. The cost of TEs should be identified, measured, and publicly reported to improve transparency in fiscal management.
Book Synopsis Maldives by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Maldives written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-04-17 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses that in the Maldives, public investment trends have been influenced by a number of contextual factors including the economic dependency on tourism, the high exposure to climate change, and the recent democratization. The mission assessed the strength and quality of public investment management (PIM) in the Maldives using the IMF Public Investment Management framework, based on the three phases of the PIM cycle. The report highlights that the most significant weakness in the PIM and the wider Public Financial Management system is poor budget credibility and budget execution. However, some progress has been made in improving PIM institutions, and reforms are ongoing in a number of areas. It is imperative to strengthen the project appraisal process by developing a standard methodology for project appraisal, publishing this methodology and verifying that it is consistently applied by the line ministries. It is also important to develop a framework for ex-post evaluations and ensure that lessons learned from past projects are incorporated in revised guidelines and practices.
Book Synopsis South Africa by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book South Africa written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2024-04-15 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa has many elements of sound fiscal transparency practices. Based on an assessment of fiscal transparency practices against the IMF’s Fiscal Transparency Code, South Africa's practices are strongest in fiscal reporting, followed by fiscal forecasting and budgeting, and weakest in fiscal risk analysis. There is room to improve South Africa’s fiscal reporting, budget transparency and management of fiscal risks.
Book Synopsis Slovak Republic by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Slovak Republic written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2023-11-03 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are relatively strong institutions in place to support fiscal transparency in Slovakia. The evaluation in this report shows that most aspects of Slovakia’s fiscal reporting, budgeting and risk management are in line with the good or advanced practices of the IMF’s Fiscal Transparency Code. The evaluation also highlights several areas where Slovakia’s fiscal transparency practices could be further improved, and the report provides a series of recommendations to address the above-mentioned gaps.
Book Synopsis Maldives by : International Monetary Fund. Fiscal Affairs Department
Download or read book Maldives written by International Monetary Fund. Fiscal Affairs Department and published by . This book was released on 2019 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews tax policy in the Maldives and identifies reform options to support efficiency, equity, and revenue. The absence of a broad-based personal income tax (PIT) generates revenue leakages and significantly diminishes the role of tax policy in income redistribution. A modern tax design requires a holistic view of the taxation of different sources of income and different legal forms of taxpayers to maintain tax neutrality, to the extent possible, while preserving some degrees of progressivity, simplicity, and administrability. Moreover, updating the tax system to cope with recent international developments is vital to safeguard revenues. While strengthening the goods and services tax (GST) can raise revenues in the short- to medium-term, a property tax is an important option for the long-term. The diagram below demonstrates reform priorities, as identified in this report, to modernize tax policy in the Maldives.
Book Synopsis Iceland by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Iceland written by International Monetary Fund. Fiscal Affairs Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 2014-12-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance report on Iceland discusses that the issue of maintaining alignment with budgets and budgetary reports that are expected to focus on Government Finance Statistics Manual of 2001 (GFSM 2001) indicators. Consolidated “whole-of-government” financial statements of the central government will facilitate fiscal policy informed by a broader view of public finances. Recognition and systematic accounting of physical assets are expected to enhance transparency and facilitate management and budgetary decisions. Under the current framework such assets—including roads, bridges, tunnels, land, and buildings—are treated as expenses and written off in the year in which they are acquired. Some changes in valuation of financial assets and liabilities may also be required. The cash flow statement should provide information about key revenues and expenditures. The budget should recognize depreciation as an expense but need not appropriate for depreciation at this stage. The budgeted operating statement should include depreciation as an expense to determine the operating result.
Book Synopsis Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe by : Mr.Bernardin Akitoby
Download or read book Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe written by Mr.Bernardin Akitoby and published by International Monetary Fund. This book was released on 2020-05-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.
Author :International Monetary Fund. Secretary's Department Publisher :International Monetary Fund ISBN 13 :1513568817 Total Pages :74 pages Book Rating :4.5/5 (135 download)
Book Synopsis International Monetary Fund Annual Report 2021 by : International Monetary Fund. Secretary's Department
Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1513511726 Total Pages :122 pages Book Rating :4.5/5 (135 download)
Book Synopsis International Monetary Fund Annual Report 2019 Financial Statements by : International Monetary Fund
Download or read book International Monetary Fund Annual Report 2019 Financial Statements written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-10-04 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Book Synopsis Making Politics Work for Development by : World Bank
Download or read book Making Politics Work for Development written by World Bank and published by World Bank Publications. This book was released on 2016-07-14 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments fail to provide the public goods needed for development when its leaders knowingly and deliberately ignore sound technical advice or are unable to follow it, despite the best of intentions, because of political constraints. This report focuses on two forces—citizen engagement and transparency—that hold the key to solving government failures by shaping how political markets function. Citizens are not only queueing at voting booths, but are also taking to the streets and using diverse media to pressure, sanction and select the leaders who wield power within government, including by entering as contenders for leadership. This political engagement can function in highly nuanced ways within the same formal institutional context and across the political spectrum, from autocracies to democracies. Unhealthy political engagement, when leaders are selected and sanctioned on the basis of their provision of private benefits rather than public goods, gives rise to government failures. The solutions to these failures lie in fostering healthy political engagement within any institutional context, and not in circumventing or suppressing it. Transparency, which is citizen access to publicly available information about the actions of those in government, and the consequences of these actions, can play a crucial role by nourishing political engagement.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :161635156X Total Pages :230 pages Book Rating :4.6/5 (163 download)
Book Synopsis Public Sector Debt Statistics by : International Monetary Fund
Download or read book Public Sector Debt Statistics written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-12-08 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
