The PEFA Secretariat is celebrating its 20-Year Anniversary by organizing a virtual conference on December 1 and 2. The conference is open to all policy makers, practitioners, academics, and development partners to discuss the role of public financial management in building green, resilient, and inclusive development, and in supporting recovery from the COVID-19 pandemic.
The event is in English, with simultaneous interpretation available in French and Spanish.
20 years ago, the Public Expenditure and Financial Accountability (PEFA) Program was established as a means to harmonize public financial management (PFM) assessments and to facilitate dialogue between governments and development partners. Since 2005, PEFA assessment framework has become the acknowledged standard for PFM diagnostic tools – and has been used in more than 150 countries with over 650 assessment reports. Countries at different levels of income and development have successfully used PEFA, both at the national and the subnational levels, to identify the strengths and weaknesses of their PFM systems and develop PFM reform improvements.
PFM systems have been under pressure under evolving situations and challenges over the last two decades. Those pressures are particularly evident right now. The International Budget Partnership (IBP) identified an “accountability gap” in over two-thirds of the 120 countries studied where governments fell short of managing their policy responses in a transparent and accountable manner during the COVID-19 pandemic. At the same time, the 2021 Edelman Trust Barometer reveals an epidemic of misinformation and widespread mistrust of societal institutions and leaders around the world.
Meaningful climate actions will also require a significant scaling up of both public and private finance. Developing countries alone will need an estimated $4 trillion per year in investments up to 2030 to build infrastructure to meet their development needs. These investments will need to be effectively mobilized to enable developing countries to build sustainable and resilient infrastructure, create new jobs, and where relevant, leapfrog to low carbon solutions.
The sheer amounts of public investments and the critical nature of service delivery underline the need to revisit and put in place strong, effective, and adaptive PFM systems that uphold efficiency, effectiveness, and equity while supporting emergency responses.
The virtual conference will celebrate PEFA’s journey over the last two decades, while discussing the role of PFM in building green, resilient, and inclusive development, and in supporting recovery from the COVID-19 pandemic.
The virtual conference will:
The PEFA Product Marketplace will also take the opportunity to highlight PEFA tools such as the PEFA 2016 framework and the revised guidance for the Subnational Government (SNG) assessments as well as its new supplementary modules on the PEFA climate and the PEFA gender.
For questions and additional information contact PEFA Secretariat at: firstname.lastname@example.org
Last Updated: Nov 30, 2021
VIRTUAL MEETING OPEN
Welcome and objectives:
PEFA Conversation Series:
A conversation between leaders from the development community will address the big, challenging questions on the role of PFM; and set out a way forward on what the priorities are for addressing the key global development and governance challenges.
The panelists will discuss:
Remarks and summary of day’s proceedings
Division Chief, International Monetary Fund
VIRTUAL MEETING OPEN
PEFA partners reflect: responding to global challenges of today
Reflections - Day 1:
Global leaders reflect on the future:
3 talks (5-7 mins each) will look critically into the future of PFM in the wider context of governance landscape.
Each speaker will propose practical but innovative PFM solutions to tackling democratic deficit, lack of trust, inequality and promoting transparency and integrity of PFM systems, before, during and after the crisis.
The session will discuss the importance of public finance in addressing climate change challenges – and how PFM systems need to reflect and be strengthened to address the challenges.
PEFA e-learning course
Video (2 minutes) introduces the PREFA e-learning course to the audience.
Looking into the future challenges: Next steps for PFM and PEFA
|Adenike Sherifat Oyeyiola|
Practice Manager, World Bank Group
This session includes a brief presentation by the PEFA Secretariat on new guidance for subnational governments and two supplementary frameworks on gender and climate; followed by reflections by PEFA users on their experiences.
Last Updated: Nov 30, 2021