The objective of the PEFA 2020 report is to provide an assessment of PFM performance based on the indicator analysis and other crucial information.
This is to be done in a concise and standardized manner following the 2016 methodology. The Framework applied to this PEFA Assessment is the latest framework issued by the PEFA Secretariat (issued in February 2016). This new Framework evaluates the impact of PFM weaknesses on the three levels of budgetary outcomes (aggregate fiscal discipline, the strategic allocation of resources, and efficient service delivery). It consists of 7 pillars and 31 performance indicators that measure the operational performance of the key elements of the PFM systems, processes, and institutions.
Although the PEFA Assessment does not provide recommendations for reforms or make assumptions about the potential impact of the ongoing reforms on PFM performance, the report acknowledges actions taken by the government to reform PFM systems by describing recent and ongoing measures.
As part of the strategy formulation process, coordination with other PFM-related work includes the AfDB-funded project in support of PFM in Liberia; the EU-supported project for the General Auditing Commission of Liberia; the International Development Association (IDA) allocation of funds for PFM; and the Sweden-IDA Trust Fund PFM project, among others.
Read the report here.