Framework for engaging on public financial management (PFM)
Summary of publication
The Framework for Engaging on Public Financial Management: Increase the Impact of your Program (the Framework) was released on May 3 2017. The framework sets out why Australia should engage on public financial management (PFM) in countries that receive Australian aid, and provides guiding principles for deciding whether, where and how to engage.
The Framework presents sound PFM as an important facet of effective governance. International evidence shows that countries with sound PFM are better placed to contribute to global economic growth, and provide Australia with opportunities to promote its interests internationally. Functional partner government PFM increases the impact and effectiveness of Australian aid.
The Framework is primarily intended for use by DFAT officials. However, the approach and guiding principles it sets out reflect good practice in engaging on PFM in international development assistance and the Framework is also relevant to development practitioners and others who collaborate with the Australian aid program on PFM issues.