Preface

• Author: Teresa Ter-Minassian
• Profession: Director Fiscal Affairs Department
• Pages: vii

The revised Code of Good Practices on Fiscal Transparency and the accompanying revision of the Manual on Fiscal Transparency mark important milestones in the Fund's promotion of openness and clarity in the presentation of fiscal policies and developments. In the decade since work began on the Code, it has gained acceptance across the Fund membership as the standard against which fiscal transparency should be judged, while the Manual has become the principal source of reference on approaches to improving fiscal transparency.

The Code has been the basis on which nearly half of the Fund's membership has completed a Report on the Observance of Standards and Codes (ROSC) fiscal transparency module, and has allowed for more effective Fund surveillance of fiscal policies and developments. The Manual provides detailed guidance on good practices of fiscal transparency and, in this revision, further examples have been added drawing on ROSCs and other sources. The Manual also forges close links with the Guide on Resource Revenue Transparency, which was first published in 2005, and has now been updated in line with the revised Code and Manual.

A broad public consultation process...