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public finance management; PFM

How Zambia used PEFA Assessment Reports for public financial management reforms

Srinivas Gurazada's picture
Graphic: World Bank

Can developing countries create strong Public Financial Management (PFM) systems, without a way to measure progress and make corrections? This would be like a ship sailing unchartered seas without a compass. The Public Expenditure and Financial Accountability (PEFA) Framework, a global gold standard for assessing a country’s PFM systems, can be a powerful guiding tool to help governments raise financial resources and spend them efficiently for service delivery.