In Focus: CEF and IMF Led Discussions on Fiscal Transparency and Revenue Administration Reform

The CEF and the International Monetary Fund (IMF) Fiscal Affairs Department held the “High-Level Policy Dialogue on Strengthening the Role of Good Governance through Increased Fiscal Transparency and Revenue Administration Reform in South East Europe” at the IMF and World Bank Group (WBG) 2014 Annual Meetings. The event was organized back-to-back to the CEF Supervisory Board Meeting.

At the high-level policy dialogue senior experts from the IMF’s Fiscal Affairs Department shared recent international initiatives to strengthen the role of good governance through increased fiscal transparency with senior officials from ministries of finance and central banks from South East Europe (SEE). In addition, senior experts from the IMF, PEFA and TADAT secretariats presented the role of different diagnostic assessments in potentially framing governments’ reform plans in public financial management (PFM) and revenue administration systems, such as the new IMF Fiscal Transparency Code and Evaluation, Public Expenditure and Financial Accountability (PEFA) framework, and recently developed Tax Policy and Diagnostic Assessment Tool (TADAT).

“As we all know, the global financial crisis has showed the need to intensify work in completing ongoing reform efforts, and matching them with increased fiscal transparency for better budgetary outcomes. I am very pleased that the IMF has chosen us as a partner for raising awareness on the importance of increasing fiscal transparency in the region. I would like to thank the IMF’s Fiscal Affairs Department for their continuous support to our joint efforts to help countries in the region in developing their capacities and assuring positive reform outcomes,” stressed Mira Dobovišek, CEF Director.

Senior officials were updated on possible further support to PFM and revenue administration reform efforts in the region through technical assistance activities of the IMF and the CEF regional practically-oriented and experience-based learning events. Senior officials expressed their support to the main provisions of the CEF and IMF plan for SEE.

“I can confirm that we will put all our efforts to assure the continuous support to the following processes that have been identified as key reform initiatives in the region: putting in place transparent and credible tax systems; assure sustainable revenue mobilization improvements, strengthen multi-annual budget frameworks; performance oriented budgets; all with the purpose to assure better budgetary outcomes, and enhance the transparency of our work,” added Jana Repanšek, CEF Deputy Director.

At the 14th CEF Supervisory Board meeting senior officials from ministries of finance and central banks reviewed the CEF 2013 Annual Report with Financial Statements and the proposed activities in CEF 2015 Work Plan. They took note of developments and further steps in changing the CEF legal status to an international organization. In addition they were informed about the reports of the CEF Management Board and Advisory Board for 2013.

The photo gallery of the events is available here