Good financial governance

laufendes projekt

ContentTogo faces challenges in the area of financial governance, including weak institutions for monitoring budgets, corruption and inadequate expertise in financial administration.The Togolese Government is therefore takings steps to reform financial administration and foster transparency. However, despite some progress, more improvements are needed. The Government could further strengthen its institutions and systems, promote greater transparency and accountability and tackle corruption more effectively to guarantee long-term economic growth and good financial governance.ObjectivePublic financial administration has improved and is able to manage reforms, mobilise its own revenues and verify that expenditures are cost-effective and correct.ApproachThe project has three areas of activity and implements measures, including the following:The Ministry of Economy and Finance, which manages the reform policies, works with the project and the consulting firms IBF, BiRD und PerfoDev to develop and launch a digital monitoring system. The aim of this is to monitor the processes so that the government’s reforms – especially public finances – can be managed efficiently.Training and advisory services are also offered to the employees of the tax authority and the Ministry of Finance who deal with tax policy and international cooperation on tax issues. Gaining further expertise in these areas enables the financial authorities to mobilise the state’s own revenues more effectively and tackle the risks inherent to the tax system.Additionally, the project supports the bodies responsible for controlling financial policy in optimising performance audits and improving communication between them. By supporting the public bodies responsible for financial control, especially the audit office and the anti-corruption authority, the project increases transparency in the government’s financial administration.

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