PFM Legal Responses to the Pandemic – Be Fast, but Wise by Ozlem Aydin Sakrak, Alessandro Gullo and Karla Vasquez published by IMFBlog indicated by Alvaro Manoel (6/2020)
Amid the unprecedented disruption brought by the pandemic, many countries have swiftly adopted legislation to preserve their economies. The crisis is testing how PFM legal frameworks can strike the right balance between the two key principles– flexibility and accountability. Fast legislative action is necessary to mobilize funds expeditiously. On the other hand, proper checks and balances between the legislative and the executive should be maintained to prevent irregular fiscal practices and to adequately account for the use of the funds that are mobilized.
