This study aimed to draw broad lessons from assessments rolled out in the context of the PEFA initiative, launched in December 2001 as a partnership between the World Bank, the European Commission, DFID, SECO, the French MoFA, the Royal Ministry of Foreign Affairs of Norway and the IMF. PEFA aims to enable countries and their technical and financial partners: i) to assess the performance of PFM systems and ii) to promote reforms implementation and capacity building measures. To achieve these objectives, a methodology for assessing the PFM performance has been developed.
As a result, the PEFA "Framework for measuring the performance of the public financial management" was released in 2005. This tool helps to track over time the progress of the PFM systems for countries at very different stages of development. Since it was launched, about 250 assessments, of which 70 of sub national entities, were rolled out in 134 countries.
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