Public Financial Management Legal Frameworks

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Public Financial Management Legal Frameworks (LFPFM)

This course, presented by the Legal Department, covers institutional and legal issues related to sound and effective public financial management. Selected topics covered by the course: the legal foundations and governance-related aspects of budget formulation, preparation, and execution; fiscal rules and institutions; public debt management and transparency; and fiscal governance of state-owned enterprises, public investment management, public-private partnerships, and sovereign wealth funds. The course also takes into account emerging legal developments relevant to public financial management, such as gender and climate change.

Target Audience

Lawyers from ministries of finance, line ministries, central banks, state audit bodies, state-owned enterprises, sovereign wealth funds, and attorneys-general offices who deal with public financial management issues. The course is designed for heads of legal departments and senior counsels. Attendance is by invitation only. Prerequisites are specified in the nomination request letters.

Qualifications

Participants are expected to have five years of relevant work experience, good knowledge of legal issues pertaining to public financial management, and preferably an advanced law degree.

Course Objectives

Upon completion of this course, participants should be able to:

Identify sound practices for addressing public financial management legal issues.
Identify legal design approaches that have proven effective, based on cross-jurisdictional experiences shared by presenters and fellow participants.
Analyze and assess domestic public financial management legislation against international good practices.
Develop and formulate recommendations on how to reform public financial management legislation to align it to international good practices.
Explain to stakeholders proposed amendments to public financial management legislation and defend those proposals in discussions and consultation procedures with stakeholders.

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