Libya: Technical Assistance Report—Public Financial Management Reform Priorities in the New Environment

International Monetary Fund

No 2013/036, IMF Staff Country Reports from International Monetary Fund

Abstract: Libya faces a number of challenges to establishing a robust, efficient, and transparent public financial management system. There is a need to establish a clear macrofiscal policy framework. The Sovereign Wealth Fund (SWF) should be a financing fund system with clear and rigid inflow and outflow rules and should be based on clear and regulated investment criteria. Under the existing legal and regulatory framework, budget expenditures cannot exceed the initial ceilings specified in the annual budget law. This should be strictly enforced.

Keywords: ISCR; CR; cash management; reserve account; budget process; budget preparation; budget classification; commercial bank; internal audit; strategy paper; budget allocation; budget integration; execution report; fiscal year; budget decision making; natural resource; Budget planning and preparation; Fiscal accounting and reporting; Budget execution and treasury management; Global (search for similar items in EconPapers)
Pages: 62
Date: 2013-02-05
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=40298 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2013/036

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().