Fiscal Transparency, Accountability, and Risk


Fiscal transparency is a critical element of effective fiscal policymaking and the management of fiscal risks. The last decade and a half has seen a concerted effort to develop a set of internationally accepted standards for fiscal transparency and to monitor and promote the implementation of those standards at the national level. This period has also witnessed a steady improvement in the comprehensiveness, quality, and timeliness of public financial reporting in countries across the income scale.

International Monetary Fund, prepared by the Fiscal Affairs Department in collaboration with the Statistics Department, approved by Carlo Cottarelli, August 7, 2012... 

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