IFMIS

The PEFA Global Report on Public Financial Management (PFM) highlights the importance of robust PFM systems, especially in the wake of the COVID-19 crisis. Drawing on over 675 assessments in 154 countries, the report provides a comprehensive view of PFM trends and performance. Key findings indicate that countries excel in budget preparation but struggle with execution, with internal audits and fiscal risk management being the weakest areas. The report emphasizes the need for gender-responsive budgeting and highlights case studies from Argentina, Ethiopia, Ukraine, and West Bank and Gaza. It underscores the challenges and opportunities for strengthening PFM in a post-pandemic world, stressing the importance of maintaining audit trails and reverting to normal controls after emergency spending. The report also notes the critical role of PFM in ensuring effective public services and suggests that PEFA data can aid in better policymaking and building trust in governments.