Antigua & Barbuda receives help with managing finances

The country’s operations for managing government’s finances are currently being evaluated and a performance management framework for this is being designed by officials of Caribbean Regional Technical Assistance Centre (CARTAC).

The assessment is being done by the Public Expenditure and Financial Accountability (PEFA) partners, who introduced the process to officials from government ministries, statutory bodies, private and non-governmental organisations, during a workshop at the Hospitality Training Institute, on Tuesday.

According to a release from The Ministry of Finance, this initiative is indicative of government’s determination to pursue a path of sound management of the country’s financial resources.

The pending assessment, as well as the millions of dollars worth of technical assistance being provided by CARTAC and DFID (Department for International Development), is a sign, the release said, of the development partners’ support for the National Economic and Social Transformation Plan and the Fiscal Consolidation Programme.

Antigua & Barbuda has become the seventh member of the currency union to undertake an assessment of its systems for expenditure management.

PEFA is a collaboration of the World Bank, the European Commission, the UK’s Department for International Development, the Swiss State Secretariat for Economic Affairs, the French Ministry of Foreign Affairs, the Royal Norwegian Ministry of Foreign Affairs, and the International Monetary Fund.