Lao People's Democratic Republic Public Expenditure and Financial Accountability Assessment
Efficient utilization of overall resources through sound public financial management (PFM), good governance and oversight are priorities in the Lao PDR government’s reform agenda. The strengthening of PFM systems is fundamental to the successful de...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/381331570112334366/Lao-Peoples-Democratic-Republic-Public-Expenditure-and-Financial-Accountability-PEFA-Assessment http://hdl.handle.net/10986/32505 |
| Summary: | Efficient utilization of overall
resources through sound public financial management (PFM),
good governance and oversight are priorities in the Lao PDR
government’s reform agenda. The strengthening of PFM systems
is fundamental to the successful development of Lao PDR and
has been center stage in the Government’s policy agenda.
There has been slow progress since 2010 in strengthening the
quality of PFM systems and processes and there has also been
a pause in the PFM reform agenda since 2013. This Public
Expenditure and Financial Accountability (PEFA) Lao PDR 2018
is intended to assess the current state of PFM in Lao PDR.
This PEFA uses the upgraded 2016 methodology that has more
demanding PFM standards with new calibration and scoring
criteria. While it is expected that the assessment generates
relatively low scores and reveal severe PFM performance
gaps. The Government expects that the narrative will also
highlight the area of ongoing or planned reform action in
order to link the analysis to the existing areas of the new
PFM reform agenda and to support the post-PEFA dialogue on
the priorities and sequencing of the reform actions. this
context, the GoL agreed at the end of 2016 to carry out a
PEFA self-assessment managed by the WB and financed by the
EU, to establish a diagnostic study of the PFM system using
the PEFA 2016 methodology. It is expected that the PEFA
exercise gives further impetus to the momentum created by
the launch of the PFM reform agenda, mobilizing the
participating institutions on the subsequent dialogue on PFM
reform policy decisions. The overall objective of the PEFA
assessment is to provide a baseline with an evidence-based
PFM performance assessment to guide the Government’s PFM
reform strategy and potential engagement with its
development partners in further strengthening PFM in the country. |
|---|