Czech Republic Report on the Observance of Standards and Codes—Fiscal Transparency, Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency—Updates
IMF Staff Country Reports, August 7, 2002
Source details
- Canonical URL
- Czech Republic Report on the Observance of Standards and Codes—Fiscal Transparency, Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency—Updates
Other formats
Bibliographic details
- Published: August 7, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810158.002
Summary
- This paper presents an update to the Czech Republic’s Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency, Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency.
- The Czech Republic continues to lack a comprehensive perspective on fiscal risks.
- Although the extension of government guarantees has dropped sharply, other forms of contingent liabilities are still not fully captured, for example, those resulting from the operations of the National Property Fund or the Czech Consolidation Agency.
- There is no requirement to quantify tax expenditures.
Key findings
- Lack of a comprehensive perspective on fiscal risks.
- Sharp drop in the extension of government guarantees.
- Contingent liabilities from the National Property Fund are not fully captured.
- Contingent liabilities from the Czech Consolidation Agency are not fully captured.
- No requirement to quantify tax expenditures.
Subject areas and keywords
- Subject: Auditing, Bank supervision, Budget planning and preparation, Financial regulation and supervision, Fiscal risks, Fiscal transparency, Performance audit, Public financial management (PFM)
- Keywords: Auditing, Bank supervision, Budget planning and preparation, CNB's website, CR, government, ISCR, Performance audit, procedure, regulation, State budget, State budget operation, State budget rule, State budget spending, State final accounts