Mike Williams

Israel Fainboim Yaker

Joseph Cavanagh

Mario Pessoa

Carlos Pimienta

Marco Varea

Adriana Arosteguiberry

Claudiano de Albuquerque

José Adrián Vargas

Benito Almudena Fernández

James L. Chan

Gerardo Uña

Natalia Rezai

The efficiency, effectiveness, and transparency of public financial management in Latin America is critical for the supervision of public resources, fiscal stability, and sustainable economic development. In recent years, the countries of Latin America have embraced reforms in public financial management and have made many important advances; however, many challenges remain. This book brings together the knowledge and experiences of IMF and IDB staff and representatives from 16 governments in the region to document these reforms, and examines the experiences and lessons learned. It is a valuable resource for those looking at issues in public financial management.

The key to efficiency and transparency

Public financial management in Latin America

Sailendra Pattanayak

A treasury single account (TSA) is an essential tool for consolidating and managing governments’ cash resources, thus minimizing borrowing costs. In countries with fragmented government banking arrangements, the establishment of a TSA should receive priority in the public financial management reform agenda. Drawing on the lessons of the Fund’s work in several countries in establishing a TSA, this paper explains its concept, essential features, and potential benefits. It also presents alternative models and approaches for designing a TSA that take into account specific country contexts as well as the preconditions and desirable sequencing for its successful implementation. Finally, the paper includes country examples from different regions in support of the analysis and recommendations.

Concept, Design and Implementation Issues

Treasury Single Account

Israel Fainboim Yaker

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