By improving budget transparency, FIP helps to increase accountability and reduce the risk of corruption. It also fosters trust between governments and citizens, as well as among different stakeholders in the budget process.
Public Financial Management Systems, Imf fip
FIP also supports the modernization and strengthening of public financial management systems in low-income countries. This includes improving the efficiency and effectiveness of budget execution, cash management, and financial reporting. It also helps countries to develop and implement performance-based budgeting systems, which link budget allocations to specific outcomes.
By strengthening public financial management systems, FIP helps countries to allocate their scarce resources more effectively, improve service delivery, and promote sustainable economic growth.
