Independent fiscal councils for a responsible and transparent fiscal policy in the post-pandemic

To create a set of tools and skills that seek to promote the adoption and/or consolidation of fiscal councils in Latin America and the Caribbean. This is part of a strategy to strengthen the capacity of budgetary institutions and restore the sustainability of public finances, affected by the COVID-19 pandemic. For this purpose, areas of intervention will be developed that include: (i) Offer proposals on regulatory frameworks that include good principles and practices that each country later uses to create or strengthen its FC. (ii) Construction of a digital tool for FCs that allows countries to monitor compliance with fiscal rules and identify areas for possible improvements that help finance ministries to create strategies that lead to strengthening fiscal sustainability. (iii) Strengthening of the FCs through tools that contribute to the monitoring and public and independent evaluation of fiscal policy. This would contribute to raising the technical capacity of the officials of the FC. (iv) Promote the regional exchange of experiences and best practices on the impact that FCs have on public policy. (v) Reinforce the roles of the FCs in the coordination of fiscal policy with the Ministries of Finance and communication with citizens. The methodologies and instruments developed in the project will be made available to any interested country given its RPG nature.

Project Detail

Country

Regional

Project Number

RG-T4184

Approval Date

December 5, 2022

Project Status

Implementation

Project Type

Technical Cooperation

Sector

REFORM / MODERNIZATION OF THE STATE

Subsector

FISCAL POLICY FOR SUSTAINABILITY AND GROWTH

Lending Instrument

Lending Instrument Code

Modality

Facility Type

Environmental Classification

Total Cost

USD 750,000.00

Country Counterpart Financing

USD 120,000.00

Original Amount Approved

USD 630,000.00

Financial Information

Operation Number	Lending Type	Reporting Currency	Reporting Date	Signed Date	Fund	Financial Instrument
ATN/OC-19742-RG	Sovereign Guaranteed	USD - United States Dollar	Jun. 28, 2024	Dec. 5, 2022	Ordinary Capital	Nonreimbursable

Operation Number

ATN/OC-19742-RG

Lending Type: Sovereign Guaranteed
Reporting Currency: USD - United States Dollar
Reporting Date: Jun. 28, 2024
Signed Date: Dec. 5, 2022
Fund: Ordinary Capital
Financial Instrument: Nonreimbursable

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Implementation Phase

https://www.iadb.org/document.cfm?id=EZSHARE-1293333624-20

TC Document

Documento de CT - Divulgacion_26479.pdf

Dec. 05, 2022

English