SESSION 1 ISSUES IN FINANCIAL CONTROL & ACCOUNTABILITY9-10:30

This session will examine key issues in budget execution and review. These include the role of financial management information systems, the management and prevention of payment arrears, proposed innovations such as accrual accounting and budgeting, achieving compliance with existing country financial rules and regulations and institutional arrangements for public sector audit. The Bank’s Country Financial Accountability Assessment (CFAA) will be discussed.

Presenters Paul Bermingham Head, Financial Management Board, OPCFM

Jim Brumby Technical Assistance Advisor, Fiscal Affairs Department,IMF

Chair David Shand FM Advisor, OPCFM

COFFEE BREAK

SESSION 2 PUBLIC SPENDING FOR POVERTY REDUCTION 11-12:30

This session will examine key issues in poverty budgeting. Topics will include an overview of the budget system, the evaluation of spending options, sequencing (short versus medium-term actions), the role of planning, monitoring and evaluation tools, results oriented budgeting and the link with international benchmarks for social spending, expenditure tracking surveys, tax and spending incidence analysis and the development of a participatory framework for integrating external assistance.

Presenter Jeni Klugman Lead Economist, PRMPO

Commentators Sukhwinder Singh Policy Development & Review Department, IMF

Norman Hicks Sector Manager, LCSPP

Chair Vinaya Swaroop Lead Economist, PRMPS

LUNCH (Participants will be provided a boxed lunch) 12:30 – 1:30

SESSION 3 IMPLEMENTING THE MTEF 1:30 - 3:00

Over the past few years, operational work covering public expenditure issues has increasingly contained references to the need for a Medium Term Expenditure Framework to strengthen public expenditure management at the “three levels”. The required institutional changes to achieve this are fairly complex, take time and require careful attention to initial conditions, incentives and sequencing issues. This session will discuss experiences in the implementation of MTEFs in the Africa region, to identify relevant initial conditions and appropriate sequencing of components, and to develop realistic expectations for such reform.

Presenters Philippe Le Houerou Sector Manager, AFTM 1

Robert Taliercio YP, AFTM 4

Commentator Allister Moon Lead Economist, ECSPE

Chair Anand Rajaram Senior Economist, PRMPS

COFFEE BREAK

SESSION 4 TRANSPARENCY AND GOVERNANCE 3:30-5:00

(NOTE PROGRAM MODIFICATION)

Following the experience of the Asian crisis, the Bank and the IMF have placed increased emphasis on the importance of both fiscal and financial transparency for good governance. Transparency implies the availability of timely, comprehensive and reliable information , whether on public expenditures or the quality of bank portfolios. The session will discuss an example of lack of fiscal transparency, drawing on the Turkey PEIR. Peter Heller will present the IMF's perspective on both aspects of transparency and the role that the Fund's assessments can play in the joint effort of the Bank and the IMF to strengthen both transparency and public expenditure management.

Presenters Anand Rajaram Senior Economist, PRMPS

Peter S. Heller Deputy Director, Fiscal Affairs Department, IMF

ChairHelen Sutch Sector Manager, PRMPS