Guatemala: Fiscal Transparency Evaluation

Volume/Issue: Volume 2016 Issue 372
Publication date: December 2016
ISBN: 9781475558586
$18.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , ISCR , CR , balance sheet , central government , accounts payable , fiscal year , financial asset , consolidated financial statement , insurance fund , profit and loss , organic law , Budget planning and preparation , Financial statements , Budget execution and treasury management , Public sector , Global

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Summary

This paper discusses key findings of the Fiscal Transparency Evaluation report on Guatemala. Guatemala has transparency practices that achieve the ratings of basic, good, and advanced regarding three-quarters of the principles established in the IMF’s Fiscal Transparency Code. The wealth of information available and the systems in place related to the public sector’s execution of its budget, finances, and accounts allow for easy access by the population to an impressive volume of fiscal data. However, there is much room for improvement in the area of fiscal transparency. Establishing a new fiscal pact in which the medium-term fiscal targets are defined would help create fiscal predictability and ensure that the major challenges of social and economic development are met.