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Country Development and Public Financial Management News Roundup

 

August 16, 2017

Top PFM and development news from last week curated by the FreeBalance Strategy and Innovation Group.

DIGITAL MONEY DRIVING PFM REFORM IN EAST ASIA PACIFIC: Khuram Farooq and Leah April in the IMF PFM Blog describes how use of digital money is driving reform in  Korea, China, Indonesia, Vietnam, Philippines, and Mongolia by facilitating payments.

http://blog-pfm.imf.org/pfmblog/2017/08/digital-money-is-spearheading-the-next-wave-of-public-financial-management-pfm-reforms-in-eap.html

FOLLOW THE LATIN AMERICA MONEY TRAIL: Celina B. Realuyo, in a report for the Wilson Center describes how  “‘following the money trail’ directly contributes to the fight against terrorism, crime, and corruption around the world.”

https://www.wilsoncenter.org/sites/default/files/follow_the_money_final_0.pdf

CITIZENS IN THE MIDDLE EAST VALUE ECONOMIC GROWTH AND SOCIAL JUSTICE: Surveys by Open Democracy reported by Andrea Teti and Pamela Abbott find that “democracy” is less valued than good governance.

https://www.opendemocracy.net/andrea-teti-pamela-abbott/what-do-people-in-arab-countries-want-conceptions-of-democracy

https://www.opendemocracy.net/north-africa-west-asia/andrea-teti-pamela-abbott/perceptions-of-eu-foreign-policy-in-mena-region

MONGOLIAN HERDERS WIN LANDMARK AGREEMENT: Sophie Edwards in Devex describes a historic change in World Bank-backed mining investment to benefit camel herders.

https://www.devex.com/news/how-a-group-of-mongolian-herders-took-on-a-mining-giant-and-won-90765/

THE INFORMAL ECONOMY IN AFRICA: An article from Reuters suggests that the informal economy cannot sustain need for a larger workforce based on IMF data. A chart in the IMF Blog shows that the informal economy represents about 40% of economic activity in Sub-Saharan Africa.

http://www.theafricareport.com/West-Africa/informal-economy-not-enough-to-handle-africas-workforce-explosion.html

https://blogs.imf.org/2017/08/08/chart-of-the-week-the-potential-for-growth-and-africas-informal-economy/

DEMONITIZATION OF LARGE BILLS REDUCES CORRUPTION? Tax return filing goes up by 25% in India after the elimination of large denomination banknotes as reported by Mark Smulian at Public Finance International.

http://www.publicfinanceinternational.org/news/2017/08/indias-income-tax-return-filing-rate-goes-25

THE PROMISE OF BLOCKCHAIN FOR ELECTIONS: An article in Datafloq describes how blockchain could eliminate electoral fraud.

https://datafloq.com/read/blockchain-voting-how-change-democratic-process/3518

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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.
Doug Hadden

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