Government of Kosovo Improves Governance Through Public Financial Management (PFM) Reform
Case Study describes sequence of successful PFM reforms in Kosovo from 1999
Ottawa, Canada (August 16, 2010) – FreeBalance, a global Government Resource Planning (GRP) software company, today released a Case Study that details the Government of Kosovo’s success at improving governance through PFM reform. The Kosovo PFM Case Study covers the sequence of PFM reform in Kosovo from 1999 to the present day. PFM reform is critical to improving good governance. Good governance is critical to economic development. This Case Study is the first in a series to be published to assist governments around the world achieve country growth.
The Kosovo Financial Management Information System (KFMIS) is based on the FreeBalance Accountability Suite. The KFMIS has supported the Government of Kosovo agenda of reform and modernization.
“The advances of the KFMIS are very important for the Public Financial Management reform of the Government of Kosovo,” said Lulzim Ismajli, Treasury Director, Ministry of Finance & Economy, Government of Kosovo. “We have been working with FreeBalance since 2000. We’ll continue our cooperation towards continuous advancement of the KFMIS in order to drive public finances in the way of advanced management so as to be comparable with PFM systems of developed EU countries.”
The PFM Case Study analyzes Public Expenditure and Financial Accountability (PEFA) assessments. The Government of Kosovo has achieved excellent results (B and higher) for over half of the assessment criteria. The country context of economic, capacity and sustainability challenges are described. The PFM Case Study describes the Government of Kosovo goals of improved governance and transparency, and provides a GRP modernization scorecard.
“FreeBalance congratulates the Government of Kosovo on its remarkable achievements in PFM reform,” said Manuel Pietra, President & CEO of FreeBalance. “The Kosovo PFM Case Study illustrates how the Government of Kosovo has strengthened governance with the resulting economic benefits this brings to its people.”
Achievements by the Government of Kosovo include:
- Improved governance as demonstrated by the 2007 and 2009 PEFA assessments
- Effective sequencing of PFM reform
- Capacity built for budget execution, cash management and procurement government-wide
- Decentralization of budget execution reflecting successful capacity building
- Achieving International and European standards
- International Monetary Fund (IMF) member admittance
FreeBalance customers span the globe. This user community includes public financial management professionals in 18 countries, including Panama, Guyana, Antigua & Barbuda, Jamaica, Uganda, Timor-Leste, Afghanistan, Kosovo, Mongolia, and Canada. FreeBalance operates in 15 customer time zones. FreeBalance has more than 60,000 users around the world. FreeBalance software manages a global civil service workforce of 1,500,000, and also manages a quarter trillion ($US) annual budgets worldwide.
FreeBalance helps governments around the world leverage robust Government Resource Planning (GRP) technology to accelerate country growth. FreeBalance software solutions for public financial and human resource management support reform and modernization to improve governance, transparency and accountability. Good governance is required to improve development results.
Founded in 1984, FreeBalance is a for-profit-social-enterprise (FOPSE) company headquartered in Ottawa, Canada, with sales and support offices in Washington, DC (United States), Lima (Peru), Lisbon (Portugal), London (Great Britain), Pristina (Kosovo) and St. John (Antigua and Barbuda). FreeBalance solutions have been implemented in countries across the globe, including Canada, United States, Sierra Leone, Guyana, Pakistan, Mongolia, Afghanistan, Antigua & Barbuda, Timor-Leste, Republic of Kosovo, Palestine, Panama, and Uganda. For more information, visit www.freebalance.com.