Public Finance Focus

News/opinion/information covering developments affecting government accountants, auditors, regulators and policy makers worldwide.

[Public Finance Focus @PF_Focus]

‘Tentative agreement’ for 120,000 Canadian government workers ends national strike

A May Day deal on pay has led to a Canadian trade union effectively ending one of the largest public sector strikes in the country’s history.

https://t.co/ATzXretxe8

[Public Finance Focus @PF_Focus]

'Ghana raises interest rates as it seeks IMF deal'

Ghana’s central bank has hiked interest rates by the largest jump in 20 years barely one month after the International Monetary Fund said the country needs to “ensure credibility” in its monetary policy.

https://t.co/JWMUL2sxXa

[Public Finance Focus @PF_Focus]

'US will not release Afghan central bank reserves'

The US plans not to unfreeze billions of dollars of Afghanistan’s reserves held in American financial institutions, but insists it will find a way to use the money “for the benefit of the Afghan people”.

https://t.co/I0QbYHn6iN

[Public Finance Focus @PF_Focus]

'Re-engaging staff through conversation'

Solving the problem of disengagement among staff involves difficult – but vital – conversations with individuals.

https://t.co/daX2KfrAeR

[Public Finance Focus @PF_Focus]

'Debt servicing costs exceed revenue in Nigeria'

Nigeria’s revenue fell below the cost of servicing its debt in the early months of 2022, despite high oil prices.

https://t.co/5n7xTwXTp2

[Public Finance Focus @PF_Focus]

'ECB raises interest rates for first time since 2011'

The European Central Bank has ended eight years of negative interest rates, increasing its deposit rate for the first time since 2011 in response to high inflation.

https://t.co/1HN1v7ykmc

[Public Finance Focus @PF_Focus]

'OECD wants new global tax arrangements sorted within a year'

Officials have set a deadline of this time next year for global agreement on one part of its landmark tax reforms, agreed in principle by the vast majority of the world’s countries last year.

https://t.co/YuNHZob36I

[Public Finance Focus @PF_Focus]

French finance minister Bruno Le Maire has said the government's finances have reached “alert level” amid a debate over how much he can do to shield people from the rising cost of living.

https://t.co/TtAD5IewVr

[Public Finance Focus @PF_Focus]

Pakistan’s prime minister has said a new “super tax” levied on big industries and a “poverty alleviation tax” on the country’s richest residents will cut the deficit and help fund measures aimed at helping the poor amid the spiralling cost of living.

https://t.co/wzbaQGjAO1

[Public Finance Focus @PF_Focus]

'Public financial management 2.0'

Comprehensive accrual accounting is required to meet a challenging economic reality.

https://t.co/MGLQ3SvfbD

[Public Finance Focus @PF_Focus]

World Bank: ‘Deliberate delay and fraud’ hindering Lebanese reforms

Deliberate policy inaction and “elite capture” have held up the reforms that could help Lebanon lift itself out of its financial crisis, according to the World Bank.

https://t.co/RkT9pAm98w

[Public Finance Focus @PF_Focus]

Chinese local government deficits ‘to widen’

The economic slowdown caused by strict Covid-19 restrictions in China could lead to a widening of local and regional government deficits this year, according to ratings agency S&P.

https://t.co/kEgpIxkub0

[Public Finance Focus @PF_Focus]

World Bank: Ukraine conflict to boost international remittances

The level of remittances to low-and-middle-income nations is expected to hit $630bn this year, fuelled by increased Ukraine support after February’s invasion, according to the World Bank.

https://t.co/Qia0NFRx8w

[Public Finance Focus @PF_Focus]

The Lebanese political establishment is “completely out of touch with reality” according to a United Nations report that had particularly harsh words about the central bank’s role in the ongoing economic crisis .

https://t.co/zvO9UD6F1c

[Public Finance Focus @PF_Focus]

Queensland authorities ‘breached internal audit regulations’

More than 20 local authorities in Queensland, Australia failed to comply with internal audit and audit committee legislation, according to the state auditor.

https://t.co/Tm5zxLwqJM

[Public Finance Focus @PF_Focus]

Pakistan needs to accelerate "key structural reforms" to see economic progress – World Bank

https://t.co/3BiY5Ywrl5

[Public Finance Focus @PF_Focus]

'OECD countries must "do more" on SDGs'

OECD countries are close to meeting just a quarter of measurable targets under the United Nations’ Sustainable Development Goals, with the 2030 deadline looming.

https://t.co/RZKhZVywa6

[Public Finance Focus @PF_Focus]

'IMF welcomes Denmark relaxing fiscal rule'

Denmark’s plan to double its deficit limit has received the backing of the International Monetary Fund in its latest appraisal of the Danish economy.

https://t.co/wVM2iSyiWZ

[Public Finance Focus @PF_Focus]

'IPSASB to consult on public sector sustainability reporting'

The International Public Sector Accounting Standards Board has launched a consultation aimed at producing a global set of standards for sustainability reporting by government bodies.

https://t.co/CzMZlpiLfg

[Public Finance Focus @PF_Focus]

Low debt 'key to Irish credit rating improvement'

The Irish government’s track record of low debt and budgetary surpluses is a key contributor to an increase in the nation’s credit rating announced today, according to ratings agency Moody’s.

https://t.co/mpYeisxrwu