April 17, 2012Doug Hadden
This weekly news update provides the Government Resource Planning (GRP) community with a brief overview of recent FreeBalance developments and relevant industry news.
Meet FreeBalance in Miami at the Annual ICGFM Conference
FreeBalance continues to attend and participate in conferences and events around the world including the upcoming 26th Annual International Consortium on Governmental Financial Management (ICGFM) International Conference on April 29-May 4, 2012 in Miami, Florida. The theme for this year’s ICGFM Annual Conference is “PFM in the 21st Century – The PFM Architecture, Institutions, and Tools to Meet the Challenges of the Modern Worlds.”
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Timor-Leste Launches Government Results Portal
FreeBalance worked with the Government of Timor-Leste to launch the Government Results Portal last month. The Government Results Portal displays outcome information for the most important Government targets, projects and programs. Different information is displayed for each target including: purpose, physical and financial progress, photos and more. Content and structure of the results information is based on the Timor-Leste Strategic Development Plan.
Visit Government Results Portal>>
Is Government Performance an Oxymoron?
New governments talk about improving performance. The American federal government has experienced waves of performance management initiatives. Yet, there is the meme of “big inefficient government” in the United States. This seems to be a common theme in the press, among think tanks and opposition politicians. It makes for good copy.
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Going Broke? Why Pension Reforms Are Needed in Emerging Economies?
We’re all getting older, and there’s no doubt that pension reform is a hot topic in the advanced economies. But it’s also critical in emerging economies. Our analysis here at the IMF shows that across emerging economies pension spending is projected to rise as the population ages. On average, these spending increases are not that large. But reforms are needed to increase coverage of the system without making pension systems financially unsustainable over the long term.
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Assessing Debt Levels in Poorer Countries
Following a comprehensive review, the IMF and World Bank are introducing improvements to their joint Debt Sustainability Framework (DSF) developed to assess borrowing levels in low-income countries. In response to feedback from a range of stakeholders, the IMF and World Bank have determined that some enhancements are necessary to ensure that the framework adapts to changing circumstances in borrowing countries. The framework is used by borrowing countries, lenders, and donors to assess how much debt is sustainable and to balance it against a country’s development needs.
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Is Bank Competition a Threat to Financial Stability?
The global financial crisis reignited the interest of policymakers and academics in assessing the impact of bank competition on stability and rethinking the role of the state in shaping competition policies. Competition in the financial sector has a long list of obvious benefits: greater efficiency in the production of financial services, higher quality financial products and more innovation. When financial systems become more open and contestable, generally this results in greater product differentiation, a lowering of the cost of financial intermediation and more access to financial services.
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