Setting Up a Treasury in Economies in Transition

The primary mandate of a national Treasury is to promote an optimal financial management of government resources, by ensuring that spending agencies are provided, in a timely manner, the resources needed for a smooth provision of public services, while minimizing the cost of government financing. Ho...

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Bibliographic Details
Main Author: Ter-Minassian, Teresa
Other Authors: Martínez-Méndez, Pedro, Parente, Pedro
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1995
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Setting Up a Treasury in Economies in Transition  |c Teresa Ter-Minassian, Pedro Martínez-Méndez, Pedro Parente 
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300 |a 66 pages 
653 |a Finance, Public 
653 |a Public Administration 
653 |a Budget Systems 
653 |a Public finance & taxation 
653 |a Public finance accounting 
653 |a Fiscal accounting and reporting 
653 |a Budget planning and preparation 
653 |a Budgeting 
653 |a National Government Expenditures and Related Policies: General 
653 |a Expenditure 
653 |a Budget execution and treasury management 
653 |a Accounting 
653 |a Public Sector Accounting and Audits 
653 |a Expenditures, Public 
653 |a Budget 
653 |a Central government spending 
653 |a National Budget 
653 |a Budgeting & financial management 
653 |a National Budget, Deficit, and Debt: General 
653 |a Public Finance 
700 1 |a Martínez-Méndez, Pedro 
700 1 |a Parente, Pedro 
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520 |a The primary mandate of a national Treasury is to promote an optimal financial management of government resources, by ensuring that spending agencies are provided, in a timely manner, the resources needed for a smooth provision of public services, while minimizing the cost of government financing. However, international experience shows that agencies that go by the same name (the Treasury) assume a variety of responsibilities within the gamut of functions encompassed by government financial management. This paper argues that, in countries facing substantial economic and financial adjustment problems and/or rapid institutional change, it is desirable to give the Treasury a broader (rather than narrower) range of responsibilities in government financial management. This is typically the case in economies in transition, in which under central planning Treasury functions were dispersed among different agencies, including the Central Bank. The paper presents an overview of the main issues governments are likely to face in setting up a national Treasury, in particular in economies in transition. It begins with an analysis of the main Treasury functions. It then discusses the Treasury’s basic organization and structure, information system, and relationships with other public entities