IMF Book Presented at the CEF

On March 4, we hosted the presentation of the book Public Financial Management and its Emerging Architecture, published by the International Monetary Fund (IMF) in 2013.

The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. The book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. The volume poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms.

The book was presented by one of the editors Mr. Marco Cangiano, Assistant Director in the IMF Fiscal Affairs Department (FAD) and contributors to the book Mr. Eivind Tandberg and Mr. Pokar Khemani, both former IMF FAD staff members. The presentations prompted interventions by Mr. Mitja Gaspari, former Slovenian Minister of Finance and Mr. Boštjan Vasle, Director of Institute of Macroeconomic Analysis and Development (IMAD) that discussed some of the innovations presented in the book and state of affairs in this regard in Slovenia. Ms. Jana Repanšek, CEF Deputy Director facilitated a broader discussion with the audience that followed.

You can find the excerpt of the book here. The book is available at the IMF bookstore.