European launch: Public financial management and its emerging architecture

​The last two decades have seen a wave of global innovations and reforms that have fundamentally altered the way public finances are managed.

A new book from the International Monetary Fund (IMF) – Public Financial Management and Its Emerging Architecture – critically examines the most important of these reforms and innovations, including:

• fiscal responsibility legislation;

• fiscal rules;

• medium-term budget frameworks;

• fiscal councils;

• fiscal risk management techniques; 

• performance budgeting; and 

• accrual reporting and accounting.

This event will present the findings of this new work, providing the opportunity to examine them in light of challenges posed by the global economic crisis and their relevancy for policymakers and analysts.