Originally uploaded by ICGFM
Public financial management reform should be a holistic exercise according to Bill Dorotinsky of the IMF. Speaking at the June “DC Forum” of the International Consortium on Government Financial Management (ICGFM) in Washington DC, Mr. Dorotinsky discussed trends and fads in Public Financial Management (PFM).
The ICGFM focuses on knowledge transfer to government financial professionals in developing nations. Mr. Dorotinsky presented statistics about themes in donor advice and funding to developing nations, suggesting that “one size does not fit all”. In particular, the approach to decentralization, accrual accounting, budget management and financial management information systems need to be tailored to the country context. The “big bang” approach often does not work. Sequenced reform is often more effective. Mr. Dorotinsky pointed out that it is unrealistic to expect rapid modernization in developing nations. Many developed nations have not achieved effective government performance management or fiscal transparency.
Sharing good practices and facilitating dialog among practitioners of PFM enables all countries to benefit. Mr. Dorotinsky is a strong advocate of knowledge transfer through many forums and the IMF blog on Public Financial Management.
Most of the presentation was recorded for a wider audience and placed on YouTube: