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Need for Global Norms on Fiscal Transparency

Provide leverage for encouraging governments to change practices Advance the international development and aid effectiveness agendas

Enhance the standing of civil society in their negotiations with governments
Empower legislatures and audit agencies to enable them to obtain comprehensive and accurate information on how the executive is using public funds

The Global Initiative for Fiscal Transparency

The purpose of GIFT is to advance and institutionalize significant and continuous improvements in fiscal transparency, engagement, and accountability in countries around the world This initiative has multi-stakeholder membership The stewards committee of GIFTincludes the governments of Brazil, Philippines, UK, and the US; international organizations including the World Bank, IMF, and the OECD; and civil society organizations including IBP, Greenpeace International, and ONE

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Four Working Groups of GIFT

Design And Incentives Group Focuses On The Overall Design Elements Of GIFT Associated With The Launch Phase Global Norms And Develop The Contents Of The Norm

2. Advancing Global Norms Group Is Working To Define 3. Technical Assistance & Capacity Building Group Is

Determining The Role Gift Will Play In Supporting Governments To Improve Budget Openness
4. Harnessing New Technologies Group Is Assessing

Opportunities For Deploying New Information And Communication Technologies To Advance Open Budgets

High Level Principles on Fiscal Transparency
 Access to fiscal information  

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Establish legal frameworks that support public access to information Publish information on past, present, and future fiscal activities and risks in a timely, regular, comprehensive, and accessible manner Disclose fiscal objectives, outputs, and anticipated and actual social, economic, and environmental outcomes Provide assurances of the integrity of fiscal data and information

High Level Principles on Fiscal Transparency
 Governance of fiscal policy

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Define what the government sector encompasses and disclose its financial relationships with the private sector
Clarify roles and responsibilities of the executive, legislature, and judiciary with respect to managing public resources Clarify roles and responsibilities at the national level, at each subnational level of government, and between the government sector and the rest of the public sector Vest authority in legislatures to levy taxes and authorize expenditures and supreme audit institutions should function independently Create mechanisms by which the public can take part in the development and implementation of fiscal policies

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Ways for Governments to Engage with GIFT
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Governments can participate in any of the GIFT working groups GIFT can assist governments in connecting with other governments and stakeholders to enhance peer sharing and learning Governments can work with and through GIFT to receive multi-stakeholder technical assistance to support improvements in fiscal transparency, participation and accountability Governments are invited to join GIFT’s Stewards group and use this as a forum to provide leadership in developing and implementing a global architecture on fiscal transparency

Contact Information: International Budget Partnership