PUBLIC FINANCIAL MANAGEMENT REFORMS INDEVELOPING COUNTRIES: LESSONS OF EXPERIENCE FROMGHANA, TANZANIA AND UGANDA
The Association of Chartered Certified Accountants (ACCA)London, United Kingdom. & Member of ACBF FIMANET
The Medium Term Expenditure Framework (MTEF) and Integrated FinancialManagement Information Systems (IFMIS) are two major public expendituremanagement reforms that have been adopted in many developing countries in recentyears. A review of the publicly available literature on the implementation of thesereforms in three African countries considers the history of their introduction and theirrelative success. On the basis of this review, consideration is given to the risks involvedwith adopting such large scale reforms; the extent to which the international financialinstitutions and consultants were wise to recommend such widespread adoption of largescale reforms; and whether public sector financial officers in developing countries werewise to accept these prescriptions quite so uncritically in preference to paying moreattention to tried and tested financial controls and getting the basics right. However,additional research is needed to ascertain whether the introduction of an MTEF or IFMIScan successfully ensure the effective use of public sector resources whilst maintainingthe principles of universality, equity and accountability.
Medium Term Expenditure Framework, Integrated Financial ManagementInformation System, African, public sector financial management, reforms, World Bank,basics, risk.