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Liberia Integrated Public Financial Management Reform Project

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Development objective

The objective of the proposed project is to 'Improve budget coverage, fiscal policy management, financial control, and oversight ofgovernment finances in Liberia'In order to achieve the development objective, the project would support the implementation of reform actions identified in the GoL approved PFM Reform Strategy under the following key themes: (i) Improving budget credibility; (ii) Expanding budget coverage and strengthening budget execution; (iii) Strengthening revenue mobilization; (iv) Enhancing transparency and accountability in PFM; (v) Enhancing controls and respect of the PFM legal framework; and (vi) Strengthening treasury management. It will establish tangible improvements in transaction processing, reconciliation, and fiscal and financial reporting procedures; and improve budget management and resource allocation and administrative capacity to gradually develop Liberia's own institutional, organizational, informational, and human resource capacities. The PFM Reform Strategy objectives against each of the themes are addressed in the project components as designed, where one or more objectives have been combined for efficiency and implementation sake. The Strategy is anchored on five basic criteria: sequencing of major actions; simplicity and realism; lessons learned in prior reforms; ownership and sustainability; and partnership and collaboration.

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