Public Financial Management: Principal Issues in Small Pacific Island Countries

Business & Finance, Economics, Money & Monetary Policy, International Economics, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy
Cover of the book Public Financial Management: Principal Issues in Small Pacific Island Countries by Klaus-Walter Mr. Riechel, INTERNATIONAL MONETARY FUND
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Author: Klaus-Walter Mr. Riechel ISBN: 9781455218516
Publisher: INTERNATIONAL MONETARY FUND Publication: February 1, 2002
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Klaus-Walter Mr. Riechel
ISBN: 9781455218516
Publisher: INTERNATIONAL MONETARY FUND
Publication: February 1, 2002
Imprint: INTERNATIONAL MONETARY FUND
Language: English
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.
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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.

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