African Financial Governance Outlook: Effective Public Financial Management for Sustainable Development
This first African Financial Governance Outlook provides a better understanding of the state of public financial governance reforms in Africa and how policies and institutional arrangements could be improved over time, offering benefits on various levels. It serves to enrich our understanding of public financial management (PFM) and the contributions to good financial governance with the aims of reducing poverty and delivering sustainable and inclusive economic growth as long-term goals of public policy. Covered in this outlook are 10 African countries that have participated in the African Peer Review Mechanism—Burkina Faso, Ethiopia, Ghana, Kenya, Mali, Mozambique, Rwanda, Senegal, Tanzania, and Uganda. The countries were drawn from the different regions and represent different political and administrative traditions (Anglophone, Francophone, and Lusophone) to ensure a wide range of countries. They were analyzed using a financial governance matrix that combined five financial governance arenas of Budget Governance, Revenue Governance, Internal Controls, Public Procurement, and External Audit as well as five political governance variables of Inclusiveness, Openness, Rule Compliance, Oversight, and Capability. The quantitative results in chapter 3 show a wide variety of performances for different countries in different arenas and indicators.