Fiscal Transparency


The Extractive Industries Transparency Initiative (EITI) determined Feb. 13 that Kazakhstan has made meaningful progress overall in implementing the EITI Standard. The decision was made based on the validation process conducted by the EITI starting from July 1, 2017. Validation is the EITI’s independent evaluation mechanism that assesses countries against progress made in meeting the EITI Standard and results in a Board decision on each country.


Since 2005, 147 countries and 178 subnational governments carried out PEFA assessments of their record in executing spending plans. European and Central Asian countries showed the most success, and Sub-Saharan African countries the least. Subnational governments generally had a poorer record than national governments.


Greater data transparency leads to a 15 percent reduction in the spreads on emerging market government bonds one year after the transparency improvements are made says the IMF in a new report.

Investors require transparency

“IF WE are going to strengthen investment, we must improve on transparency gaps.”

This was how International Monetary Fund (IMF) acting director for fiscal affairs Sanjeev Gupta cited the importance of fiscal transparency and infrastructure development and financing, two...


Fitch Ratings-Hong Kong/Singapore-04 September 2014: The revisions to China's Budget Law, passed on 31 August, represent a significant reform, providing a framework for significantly greater transparency and accountability for local government debt management, says Fitch Ratings. Fitch expects...


Budget transparency, the mantra goes, is key for citizens to hold governments accountable for how they spend public money. But what if public spending does not happen through the budget, or if a good share of public resources are not captured in budget documents? Time and time again, the Open...