Democratic Republic of São Tomé and Príncipe Country Integrated Fiduciary Assessment : Volume 4. Country Financial Accountability Assessment and Evaluation of Ongoing Reforms

This Integrated Fiduciary Assessment is the first of its kind for Sao Tome and Principe. It combines the analysis and policy recommendations from a public expenditure review (PER), a country financial accountability assessment (CFAA), and a country procurement assessment review (CPAR). The goal of the report is to identify the major challenges facing the country in the prepetroleum era (the next three to five years) in public finance management (including public enterprises) as it attempts to implement its National Poverty Reduction Strategy (NPRS) with a tight resource envelope. This executive summary presents recent economic developments and fiscal sustainability analysis that takes into account petroleum and no-petroleum scenarios, with corresponding analysis on which of the Millennium Development Goals (MDGs) are reachable. The summary reports on revenue and expenditure performance since 2000-01, issues related to the implementation of the public investment program (PIP) and its coordination with the NPRS, and the budget process, including findings from the Health PER, which highlights a lack of allocative efficiency. The summary reports on the financial fragility of state-owned enterprises (SOEs) and the possible fiscal consequences for the central budget, especially regarding the implicit subsidies and tax breaks to (and the hypothetical tariff increases of) the electricity and water company. The summary of reports on the status of the public finance management system (budget preparation, execution, control, governance, and human resources) and the reform process that may address many of the concerns it rises. Finally, the summary presents the findings related to the procurement process, including the legislative and regulatory framework, institutional framework and management capacity, procurement operations and market practices, and integrity and transparency of the system.

Bibliographic Details

Main Author:	World Bank
Format:	Integrated Fiduciary Assessment biblioteca
Language:	English en_US
Published:	Washington, DC 2007-06
Subjects:	ACCOUNTANT, ACCOUNTING, ACCOUNTING STANDARDS, ACCOUNTING SYSTEM, ADMINISTRATIVE CONTROL, ADMINISTRATIVE CONTROLS, ADMINISTRATIVE SYSTEMS, AGENCY EMPLOYEES, ALLOCATION, ANNUAL BUDGET, ANNUAL WORK PROGRAM, APPROPRIATIONS, ARBITRATION, ARREARS, ARTICLE, BALANCE SHEET, BANK ACCOUNTS, BID, BIDS, BUDGET ALLOCATIONS, BUDGET BALANCE, BUDGET CIRCULAR, BUDGET CONSTRAINTS, BUDGET DOES, BUDGET ESTIMATES, BUDGET EXECUTION, BUDGET EXPENDITURE, BUDGET FORMULATION, BUDGET FRAMEWORK, BUDGET IMPLEMENTATION, BUDGET LAW, BUDGET MANAGEMENT, BUDGET MANAGERS, BUDGET OPERATIONS, BUDGET OUTCOME, BUDGET PLANNING, BUDGET PREPARATION, BUDGET PREPARATION PROCEDURE, BUDGET PREPARATION PROCESS, BUDGET PROCESS, BUDGET PROPOSAL, BUDGET PROPOSALS, BUDGET SITUATION, BUDGET SYSTEM, BUDGETARY DATA, BUDGETARY OPERATIONS, BUDGETARY PRINCIPLES, CAPACITY BUILDING, CAPITAL EXPENDITURE, CAPITAL EXPENDITURES, CAPITAL SPENDING, CASH BALANCE, CASH FLOW, CASH MANAGEMENT, CASH TRANSACTIONS, CD, CENTRAL BANK, CENTRAL GOVERNMENT, CIVIL SERVANTS, COUNTRY PROCUREMENT, COUNTRY PROCUREMENT ASSESSMENT, CREDITS, CREDITWORTHINESS, DATA RELIABILITY, DEBT DATA, DEBT MANAGEMENT, DECENTRALIZATION, DEVELOPMENT BANK, DISBURSEMENTS, ECONOMIC MANAGEMENT, EQUIPMENT, EXPENDITURE BUDGET, EXPENDITURE CEILING, EXPENDITURE CEILINGS, EXPENDITURE CYCLE, EXPENDITURE FORECAST, EXPENDITURE FRAMEWORK, EXPENDITURE PROCESS, EXPENDITURE PROGRAMMING, EXTERNAL DEBT, EXTERNAL FINANCING, FIDUCIARY ASSESSMENT, FINANCIAL ACCOUNTABILITY, FINANCIAL ADMINISTRATION, FINANCIAL ANALYSIS, FINANCIAL MANAGEMENT, FINANCIAL OPERATIONS, FINANCIAL POSITION, FINANCIAL PROGRAMMING, FINANCIAL RESOURCES, FINANCIAL RISK, FISCAL BALANCE, FISCAL EXPENDITURE, FISCAL IMPACT, FISCAL POLICY, FISCAL REVENUE, FISCAL SYSTEM, FISCAL YEARS, FOREIGN FINANCING, FRAUD, GOVERNMENT ACCOUNTING, GOVERNMENT ACCOUNTING SYSTEM, GOVERNMENT BUDGET, GOVERNMENT EXPENDITURES, GOVERNMENT REVENUES, GOVERNMENT STRUCTURES, HOLDING, HUMAN RESOURCE, HUMAN RESOURCES, IMMOVABLE ASSETS, INCOME TAX, INFORMATION SYSTEM, INFORMATION SYSTEMS, INFORMATION TECHNOLOGY, INSTRUMENT, INTERNAL AUDIT, INTERNAL CONTROL, INTERNAL CONTROLS, INTERNATIONAL STANDARDS, INVENTORY, INVESTMENT BUDGET, INVESTMENT BUDGETING, INVESTMENT EXPENDITURE, INVESTMENT EXPENDITURES, INVESTMENT SPENDING, JUDICIAL SYSTEM, LEGAL FRAMEWORK, LEGAL INSTRUMENTS, LIQUIDATION, LOAN, LOAN CONTRACTS, LONG TERM DEBT, MACROECONOMIC FRAMEWORK, MARKET PRICES, MATURITIES, MEDIUM TERM EXPENDITURE, MEDIUM TERM EXPENDITURE FRAMEWORK, MEDIUM-TERM EXPENDITURE, MEDIUM-TERM EXPENDITURE FRAMEWORK, MONETARY FUND, MONETARY UNION, MULTILATERAL DONORS, NATIONAL TREASURY, OPERATING EXPENDITURES, OPERATIONAL EXPENDITURES, OUTSTANDING AMOUNTS, PAYMENT ORDER, PAYMENT ORDERS, PAYROLL TAXES, PERSONNEL EXPENDITURES, POVERTY REDUCTION, PRIVATE ENTERPRISES, PROGRAM CLASSIFICATION, PROGRAM CLASSIFICATIONS, PROGRAMS, PUBLIC ACCOUNTS, PUBLIC ADMINISTRATION, PUBLIC AUTHORITIES, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC ENTERPRISE, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE REVIEW, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FUNDS, PUBLIC INTEREST, PUBLIC INVESTMENT, PUBLIC INVESTMENT PROGRAM, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SERVICE, PUBLIC SPENDING, PUBLIC WORKS, QUALITY CONTROL, RECURRENT EXPENDITURE, RECURRENT EXPENDITURES, REFORM ACTIONS, REFORM PROCESS, REGIONAL ADMINISTRATION, REGULATORY FRAMEWORK, RESOURCE AVAILABILITY, RETURNS, REVENUE FORECAST, RISK ASSESSMENT, SALARY PAYMENTS, SECURITIES, SENIOR, SERVICE PROVIDER, SERVICE PROVIDERS, STAKEHOLDERS, TAX ADMINISTRATION, TAX COLLECTION, TAX REVENUE, TAX REVENUES, TAX SYSTEM, TAXPAYERS, TOTAL EXPENDITURES, TRANSACTION, TRANSPARENCY, TREASURY, TREASURY DIRECTORATE, TREASURY MANAGEMENT, UNCERTAINTY, WAGE,
Online Access:	http://documents.worldbank.org/curated/en/2007/06/9823677/democratic-republic-sao-tome-principe-country-integrated-fiduciary-assessment-vol-4-4-country-financial-accountability-assessment-evaluation-ongoing-reforms http://hdl.handle.net/10986/7552
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