Public Expenditure and Financial Accountability (PEFA)
PEFA is a partnership between the World Bank, the International Monetary Fund (IMF), several national aid agencies and the Strategic Partnership with Africa.
PEFA aims to support integrated and harmonised approaches to assessment and reform in the field of public expenditure, procurement and financial accountability.
Visit the Public Expenditure & Financial Accountability (PEFA) website for more information.
- PFM Performance Measurement Framework (English version)
- June 2005. The PFM Performance Measurement Framework is designed to measure public financial management (PFM) performance of countries across a wide range of development. This incorporates systems of fiscal and debt management, budget formulation, budget execution, internal controls procurement, accounting and reporting, auditing, transparency and external scrutiny. It draws upon the 16 Heavily Indebted Poor Countries (HIPC) expenditure tracking benchmarks where appropriate, while taking a wider perspective of PFM performance (including, for example, fiscal risk and predictability of funding). It is also available in French, Spanish, Portuguese (Brazilian and Continental), Russian and Ukrainian.
Reading resources
- Assessing public expenditure, procurement and financial accountability: a review of the diagnostic instruments, Secretariat
- April 2003. The diagnostic instruments reviewed include the World Bank's Public Expenditure Review (PER), Country Financial Accountability Assessment (CFAA) and Country Procurement Assessment Report (CPAR); the IMF's Report on the Observance of Standards and Codes of Fiscal Transparency (Fiscal ROSC); the IMF/World Bank HIPC Public Expenditure Tracking Assessment and Action Plan (HIPC AAP); the European Commission's work on assessment and audit of public financial management systems; and the UK Department for International Development (DFID)'s approach to assessing fiduciary risk.
The Public Expenditure Management (PEM) Diagnostic
The Public Expenditure Management (PEM) toolkit is currently being developed by staff at the World Bank. The toolkit provides an approach for assessing public expenditure institutional ('rules of the game') arrangements. It focuses on the three levels of expenditure outcome: aggregate fiscal discipline; strategic and inter-sectoral allocations; and operational efficiency and service delivery.