Common use of Transparent System of Public Financial Management Clause in Contracts

Transparent System of Public Financial Management. (1) The Recipient has developed, through its ministries responsible for finance and for planning, a central medium term expenditure framework satisfactory to the World Bank for the period 2011-2013, supported by macro-economic forecasts derived from the macroeconomic model of the Recipient’s ministry responsible for planning. (2) The Recipient has improved the quality of quarterly commitment plans of the budget through: (i) ensuring consistency between said plans and the annual cash forecasts; and (ii) breaking said plans down by line ministry and, with respect to the Recipient’s specific ministries responsible for public health, national defense, public security, primary and secondary education, in consultation with each such line ministry. (3) The Recipient has installed a new payroll system interfaced with the Recipient’s financial management information system to improve payroll management.

Transparent System of Public Financial Management. (1) The Recipient has developed, through its ministries responsible for finance and for planning, a central medium term expenditure framework satisfactory to the World Bank Association for the period 2011-2013, supported by macro-economic forecasts derived from the macroeconomic model of the Recipient’s ministry responsible for planning. (2) The Recipient has improved the quality of quarterly commitment plans of the budget through: (i) ensuring consistency between said plans and the annual cash forecasts; and (ii) breaking said plans down by line ministry and, with respect to the Recipient’s specific ministries responsible for public health, national defense, public security, primary and secondary education, in consultation with each such line ministry. (3) The Recipient has installed a new payroll system interfaced with the Recipient’s financial management information system to improve payroll management.