PFM Reforms the way forward for Somaliland PFM-reforms the - PowerPoint PPT Presentation

PFM Reforms the way forward for Somaliland PFM-reforms the Somaliland-way 3-4 November,2014 Ministry of Finance 7th High Level Aid Coordination Forum

PFM Reforms the way forward for Somaliland The Somaliland PFM Reforms Strategy & PFM Action Plan are guided by the SSA/New Deal principles and aim at both creating and working Somaliland Country Systems  DESIGN PFM SYSTEMS : Jointly done by GoSL Stakeholders and DPs  IMPLEMENTATION : of Sustainable PFM systems  PFM STRATEGY : All resources “On Budget” for Transparency & Accountability  PFM ACTION PLAN : Sequenced Time-bound schedule linked to Capacity building

PFM Reforms the way forward for Somaliland DESIGN OF OUR PFM SYSTEMS: Political & Technical  Joint Design: GoSL Political Stakeholders and Development Partners (DPs)  Presidential Decree : PFM Reforms Policy and Governance structure (2013)  Foundation of our PFM System are our PFM Bills (expect all by Q4 2014) Technical reviews Completed, Translated, Ready for Submission to Council of Ministers   PFM Technical reviews Completed, Translated, Ready for Submission to Council of Minister s   REVENUE Technical reviews Completed, Translated, Ready for Submission to Council of Ministers   AUDIT Technical Completed, Translated, Ready for Submission to Council of Ministers   CUSTOMS  PROCUREMENT Technical reviews 90% done and Somali Translation Underway,   Joint Technical Design : GoSL Technical Stakeholders &DPs & Experts

PFM Reforms the way forward for Somaliland IMPLEMENTATION OF SOMALILAND PFM SYSTEMS Sustainable PFM Systems  We can/will be able to maintain the systems, the technology is appropriate and affordable  We can upgrade and widen coverage of the systems, the technology is understood  Our Human Resources will have the Knowledge and Skills to upgrade and expand  Identified DP Resources will cover operations for period 2013-2017  Implementation and Development of Somaliland PFM systems follow International Best-practices applied to Somaliland context, i.e. Good practice, as worked out in our PFM Action Plan

PFM Reforms the way forward for Somaliland PFM STRATEGY Purpose: “ ensure efficient, effective and accountable use of public resources as a basis for economic development and poverty eradication through improved services delivery” We aim to achieve the purpose by  Bringing All Resources “ On Budget ”  Ensuring Transparency  And as a result we can Regulate and Enforce Accountability  With a Focus on Achievement of Development Outcomes  This allows a meaningful Dialogue with DPs on Aid-Effectiveness  Our PFM systems will then Inspire confidence and attract more DP Funding  Create an enabling environment that promotes the GoSL unique brand of PPP

PFM Reforms the way forward for Somaliland PFM ACTION PLAN : immediate and medium-term  We put in place a GoSL PFM Reforms Governance structure (2013)  At the Top: PFM Steering Committee to Guide and Monitor the GoSL PFM Reforms (2013)  At Coordination level: PFM Reform Unit (2014)  At Operational level: 5 PFM Pillar Groups & 14 Component Te ams in place (2014)  Sequenced, Time-bound, Structured PFM Strategy & Action Plan in place (2013/14)  WB/DFID/EU/++ PFM Project scheduled to start by March 2015  We cannot wait and we need to regain the momentum lost in 2014  Interim-period Quick Wins : Nov 2014 – Feb 2015 >> submit to PFM JSC Nov 2014

PFM Reforms the way forward for Somaliland Thank You