A team from the International Monetary Fund (IMF), spent the past two weeks in Grenada providing technical assistance to improve the Public Finance Management (PFM) Act.
The PFM Act is one of the structural benchmarks under the Home Grown Programme. The Act provides for the proper management and control of public money, public property and the control of other resources, and provides for matters connected with same.
Fiscal Affairs Expert assigned by the IMF to lead the review, Mr Tej Prakash, first visited Grenada in August 2013 to meet with various stakeholders, including members of the Senior Managers Board (SMB).
Mr Prakash along with Mrs Elsie Addo Awadzi, are currently drafting a revised PFM Act, resulting from follow-up meetings with stakeholders from 31 March to 4 April. Mrs Addo Awadzi is the Consulting Counsel of the IMF’s Legal Department.
The team also conducted a seminar with the SMB on Wednesday 2 April, the objective of which was to obtain feedback on the main provisions of the revised PFM Act.