PEFA Training for FSM National
Press Release #0411-08
Palikir, Pohnpei – FSM Information Services
April 13, 2011

A 3-days training/workshop, from 4/11 thru 4/13, 2011, was conducted on Public Expenditure and Financial Accountability (PEFA) in Palikir for departments, offices and agencies of the National government that have direct functions and duties for the Public Financial Management of the central government.  Participating were representatives of the Department of Finance, SBOC Division of Budget and Economic Management, Budget Office of the FSM Congress, the National Public Auditor, and the Office of National Authorizing Officer for European Union programs for FSM.

PEFA is a multi-agency partnership program sponsored by The World Bank, The International Monetary Fund, The European Commission and others.  PEFA Performance Measurement Framework incorporates a Public Finance Management (PFM) report, and a set of high level indicators based on expenditure tracking benchmarks, the IMF Fiscal Transparency Code and other international standards.  In short, PEFA Performance Measurement Framework makes assessment of the extent to which a country’s existing PFM system supports the achievement of aggregate fiscal discipline, strategic allocation of resources and efficient service delivery.

Report indicates that thus far 200 PEFA assessments were completed in 120 countries; many are repeat assessments.  Range of coverage in the regions: Pacific, Asia, Latin America, Eastern Europe is 50-80%.  Africa has the highest and Pacific the lowest (50%) where only 12 assessments completed.  For more Info, please see PEFA Secretariat at:  www.pefa.org