Public Financial Management Reform

This online course, presented by the IMF’s Fiscal Affairs Department, provides an overview of PFM systems, institutions, and capacity building in developing and emerging market economies. It focuses on PFM issues from the IMF’s perspective, in support of macroeconomic stability, economic growth, and achievement of the Sustainable Development Goals (SDGs). The training covers a wide range of topics, and treats PFM as an integrated system rather than a collection of specialties. As such, it focuses on PFM priorities, reform objectives and implementation risks. The course is built on conceptual and practical approaches, and employs hands-on activities. 

Course Objectives: Upon completion of this course, participants should be able to: 

• Understand why PFM is an important tool to implement public policies.

• Describe and analyze the budget cycle, and its main components.

• Identify the linkages between the components of PFM systems and improved economic and fiscal performance.

• Evaluate a simple medium-term budget framework, a cash management plan, and a public investment management reform strategy.

• Recognize tools for effective management of fiscal risks, components of fiscal transparency, reliable fiscal reports, and internal and external audits.

• Identify issues relevant to the¬†prioritization and¬†sequencing of PFM reforms, and the challenges faced in implementing such reforms .

• Understand the role of local conditions and political institutions in designing and implementing reforms.