The need to improve the efficiency and effectiveness of public spending in Latin America and the Caribbean has become increasingly urgent, especially during the COVID-19 pandemic, a crisis that has impacted economic activity by, on one hand, reducing public revenues and, on the other, increasing pressure for more services. The crisis is leaving many of our countries with … [Read more...] about Cost System: A Tool to Improve the Quality of Public Spending
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Latin American and Caribbean countries must adopt a pro-growth fiscal strategy to avoid falling into a debt trap
With the outbreak of the pandemic, fiscal balances in Latin America and the Caribbean (LAC) deteriorated and public debt increased significantly. When combined with the expected slowness of economic recovery, this will put significant pressure on the sustainability of public finances for countries in the region. Given this scenario, these countries urgently need to develop and … [Read more...] about Latin American and Caribbean countries must adopt a pro-growth fiscal strategy to avoid falling into a debt trap
Now it is the time to Foster Labor Formalization in Latin America and the Caribbean
There is an urgent need to reduce labor informality to encourage inclusive growth after the pandemic is over in Latin America and the Caribbean (LAC). Labor formality boosts government revenue and targeting of transfers, increasing productivity and curtailing poverty. Given that the region has one of the highest labor informality levels in the world, targeting informality is … [Read more...] about Now it is the time to Foster Labor Formalization in Latin America and the Caribbean
How to Build an Integrated Financial Management Information System: The Case of the Korean Government
Financial management is key for any government seeking to maintain its finances in order and have the capability to provide good services to its citizens. It can be a complex task because it involves different government institutions and information systems that do not talk to each other. To address this challenge, South Korea has created an integrated financial management … [Read more...] about How to Build an Integrated Financial Management Information System: The Case of the Korean Government
Electronic Invoicing: Lessons from Latin America
Over the past two decades, a silent revolution began transforming tax administration in Latina America. Electronic tax invoicing (EI) is the region’s contribution to the fight against evasion and support for tax transparency. It sprang from the innovative efforts of the region’s more advanced tax administrations (TAs), especially those that embarked on their modernization … [Read more...] about Electronic Invoicing: Lessons from Latin America