Update on the Fiscal Transparency Initiative

Update on the Fiscal Transparency Initiative
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Volume/Issue: Volume 2014 Issue 032
Publication date: June 2014
ISBN: 9781498343213
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Topics covered in this book

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Public Finance , PP , government , FTEs , III , FTC principle , FTE recommendation , pilot Fiscal Transparency Evaluations , FTE pilot , FTC place , fund member country , natural resource management , pilot country , pillars of the FTC , Fiscal risks , Fiscal Transparency Evaluation (FTE) , Fiscal reporting , Europe , Africa , Global

Summary

This paper provides an update on staff’s work on a new Fiscal Transparency Code (FTC) and experiences with the initial pilot Fiscal Transparency Evaluations (FTE), the ground work for which was laid in a 2012 paper “Fiscal Transparency, Accountability, and Risk.” Both are part of ongoing efforts by the Fiscal Affairs Department, in cooperation with other departments, to strengthen the Fund’s fiscal surveillance and capacity building. The new FTC and FTE reflect the lessons of the recent crisis, incorporate developments in international standards, and build on feedback from consultations with stakeholders.