How a country organizes its public finances forms the basis for how local authorities govern priorities in cities, towns, and villages. While national governments have the responsibility to design and supervise a system that works, […]
The PEFA Steering Committee decided on June 2019 to revise the guidance for subnational government (SNG) PEFA assessments to better reflect SNG typologies and intergovernmental fiscal relations systems in each country. The revised guidance proposes […]
The National Monetary Council, known as CMN, said it will permit states under the fiscal adjustment program to tap 7 billion reais in new credit backed by the national treasury. The government had not allowed […]
Since the Tax Sharing Reform in 1994, the local government revenue of the People’s Republic of China (PRC) has faced downward risk problems. This paper reviews the fiscal and taxation reforms in the central and local […]
Bulgaria’s National Assembly passed at second reading amendments to the Public Finance Act, introducing rules on launching a procedure for financial recovery of municipalities in the form of interest-free credit granted from the state budget, […]
State governments have agreed to reform their finances as well as that of their local governments under a Fiscal Sustainability Programme to ensure their long term viability. The Special Adviser Media to the Minister of Finance, […]
Many stories about Mongolia lead with the economic “boom” the country has experienced from its vast mineral resources. While the economic windfalls have certainly driven the country’s rapid development over the last decade, Mongolia has […]
Indonesia has seen an emergence of local health care financing schemes over the last decade, implemented and operated by district governments. Often motivated by the local political context and characterized by a large degree of […]
There are many positive aspects associated with subnational borrowing, including additional funding and promoting intergenerational equity. However, it may also endanger fiscal sustainability and macro stability due to moral hazard and soft budget constraints, making borrowing controls justified […]
Municipal Finances, A Handbook for Local Governments (2014), edited by Catherine Farvacque-Vitkovic and Mihaly Kopanyi, is designed to help local government practitioners to improve strategic management of municipal finances. It provides practitioners, particularly staff of medium […]
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