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Business and Economics > Budgeting

You are looking at 1 - 9 of 9 items for :

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Cover IMF Staff Country Reports
Honduras: Technical Assistance Report–Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
This report evaluates Honduras’s fiscal transparency practices in relation to the IMF Fiscal Transparency Code (FTC). Honduras’s score is similar to those of other Latin American countries and emerging market economies that have undergone the evaluation. In relation to the fiscal transparency principles, Honduran practices are considered basic in 15 areas; good in seven areas; and advanced in six areas. Fiscal transparency practices in the area of fiscal forecasting and budgeting are the strongest, while the fiscal risk analysis and management practices are the weakest. Finally, Honduras’s current fiscal transparency practices fall short of the FTC principles in eight areas.
Keywords:
Universidad Nacional Autónoma; Desarrollo de Honduras; Dirección General de Inversión Pública; employee pension administrator; accounts payable; Banco Nacional de Desarrollo Agrícola; budget index; control de los Recursos Públicos; Unidad de Planeamiento y evaluation de la Gestión; Budget planning and preparation; Macroeconomic and fiscal forecasts; Fiscal risks; Financial statements; Central America
Cover IMF Staff Country Reports
Honduras: First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Honduras
International Monetary Fund. Western Hemisphere Dept.
This paper highlights Honduras’ First Reviews Under the Stand-By Arrangement and the Arrangement Under the Stand-By Credit Facility, and Request for Modification of Performance Criteria. Despite headwinds to growth and a challenging external environment, the Honduran authorities remain fully committed to the economic program supported by the IMF. They have maintained prudent macroeconomic policies—the fiscal position is in line with the Fiscal Responsibility Law, inflation is within the central bank’s target band, and the current account deficit has narrowed despite adverse terms of trade—and have taken initial steps on structural reforms to promote sustained, inclusive growth. Important measures to strengthen the governance and anti-corruption frameworks have been incorporated into the program, adding to the ongoing efforts to strengthen the institutional framework in the central bank and in public finances, and to improve the business environment. The authorities are expected to protect the revenue mobilization efforts made over the past years to reduce the infrastructure gap and increase social spending. These efforts seem to be critical to reduce poverty and inequality, while maintaining a prudent fiscal position that secures debt sustainability over the medium term.
Keywords:
ISCR; CR; revenue mobilization effort; target band; authority; SCF arrangement; BCH authorities; government fiscal policy; sound central bank governance structure; Credit; Public sector; Loans; Currencies; Global
Cover IMF Staff Country Reports
Haiti: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
Fiscal policy in Haiti should be oriented toward more developmental objectives. Steps have been taken in sustaining inclusiveness; however, the current taxation and expenditure frameworks do not completely fulfill the necessary requirements for these objectives. Inefficient public investment and lack of transparency have resulted in lower growth, lower fiscal revenue, and higher costs as well as macroeconomic imbalances, limited competitiveness, and slow economic integration. The country should take advantage of the available financial assistance and step up efforts to improve public investment quality.
Keywords:
ISCR; CR; Haiti; tax; investment framework; income tax; regards vehicle; segmented tax administration; investment program; investment efficiency; Public investment spending; Public investment and public-private partnerships (PPP); Income; Caribbean; Central America; Global
Cover IMF Working Papers
The Role of Fiscal Transparency in Sustaining Growth and Stability in Latin America
Ms. Taryn R Parry
Latin America has experienced a resurgence in growth in recent years. However, it is also a region that has been prone to crises while growth has not delivered a significant reduction in poverty and inequality. Maintaining a strong and stable macroeconomic performance in Latin America will depend on further cuts in public debt, identification and reduction of fiscal vulnerabilities and improvements in the quality of public spending. Improvements in governance and the business environment will also aid in attracting investment. This paper draws on assessments of fiscal transparency in twelve countries in Latin America to highlight good fiscal management and improvements in fiscal transparency that might enhance the prospect for sound fiscal performance and a more favorable investment environment. This would be an important step toward sustaining stable, higher quality growth in the region.
Keywords:
WP; emerging market; annual budget; central government; countries in Latin America
Cover Ajuste fiscal para la estabilidad y el crecimiento
Ajuste fiscal para la estabilidad y el crecimiento
Mr. James Daniel

Abstract

Este folleto (que actualiza las Directrices de 1995 para el ajuste fiscal) presenta el enfoque del FMI con respecto al ajuste fiscal, y se centra en la importancia de la solidez de las finanzas públicas para promover la estabilidad macroeconómica y el crecimiento. Está estructurado en torno a cinco preguntas prácticas: cuándo realizar un ajuste, cómo evaluar la situación fiscal, cuáles son los factores que determinan el éxito del ajuste, cómo realizar el ajuste y qué instituciones facilitan el ajuste. Aborda temas tales como las políticas tributarias, la sostenibilidad de la deuda, las leyes de responsabilidad fiscal y la transparencia.

Keywords:
PAM; taxpayer; financing; debt; tax
Cover L’ajustement budgétaire comme instrument de stabilité et de croissance
L’ajustement budgétaire comme instrument de stabilité et de croissance
Mr. James Daniel

Abstract

Cette brochure (qui actualise la brochure initiale de 1995, « Ajustement budgétaire : principes directeurs ») présente la démarche du FMI en matière d’ajustement budgétaire et le rôle qu’une position saine des finances publiques joue dans la recherche de la stabilité macroéconomique et de la croissance. Elle aborde des thèmes tels que la politique fiscale, la viabilité de la dette, la réglementation de la responsabilité budgétaire et la transparence. Elle est structurée autour de cinq questions : quand faut-il mettre en œuvre l’ajustement budgétaire ? Comment faut-il évaluer la position budgétaire ? Comment assurer la réussite de l’ajustement budgétaire ? Comment mettre en œuvre l’ajustement budgétaire? Comment les institutions peuvent-elles appuyer l’ajustement budgétaire ?

Keywords:
PAM; taxpayer; financing; debt; tax
Cover Fiscal Adjustment for Stability and Growth
Fiscal Adjustment for Stability and Growth
Mr. James Daniel

Abstract

The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.

Keywords:
PAM; taxpayer; financing; debt; tax; countercyclical fiscal policy; nonrenewable resource revenue; price level; fiscal policy adjustment; policy objective; trader effort; Fiscal consolidation; Global
Cover IMF Staff Country Reports
Honduras: Report on Observance of Standards and Codes-Fiscal Transparency Module: Update
International Monetary Fund
Honduras’s Report on the Observance of Standards and Codes on fiscal transparency is discussed. Great strides have been made in coordinating preparation of the budgets of the central government and the noncommercial decentralized entities, and in timing their congressional presentation and approval to coincide. The new Organic Budget Law mandates the incorporation into the budget of all the self-generated revenues and the foreign grants received by central government institutions and deconcentrated entities.
Keywords:
ISCR; CR; government; budget; TSC; final accounts; policy document; government audit; revenue-outlay budget; executive branch; quarterly budget execution report; ROSC report; Budget planning and preparation; Public sector; Budget execution and treasury management
Cover IMF Staff Country Reports
Honduras: Report on the Observance of Standards and Codes-Fiscal Transparency Module
International Monetary Fund
This report assesses the Observance of Standards and Codes on Fiscal Transparency Module for Honduras. Honduras has made good progress in recent years in improving fiscal transparency and the quality and internal consistency of fiscal data. The budget documentation has recently been improved and gives more complete information on the government’s fiscal activity in the framework of appropriate institutional, economic, and programmatic classifications. Recent quarterly and monthly reports make it possible to monitor financial execution of the budget and physical execution of investment projects.
Keywords:
ISCR; CR; government; procedure; accounting system; CBH; final accounts; government involvement; executive branch; procurement standard; fiscal year; government balance sheet; Budget planning and preparation; Budget execution and treasury management; Fiscal accounting and reporting