STP DPL - PUBLIC MANAGEMENT AND GOVERNANCE

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The overall objective of the Public Resource Management and Governance Reform (PRMG) Development Policy Operation (DPO) is to assist the Government of Sao Tome and Principe to improve public sector effectiveness. This objective will be achieved by: raising the transparency and accountability in the management of public resources with a focus on improving budget transparency and accountability and the implementation of pro-poor expenditures, improving the management of public accounts and assets, and strengthening the oversight framework for public enterprises; and promoting sustainable economic policies by strengthening the fiscal policy framework including the management of public debt, and by improving donor coordination. The PRMG DPO supports the implementation of the government's reform program, focusing on: 1) improving budget transparency and the implementation of pro-poor expenditures; 2) strengthening the management of public accounts and assets; 3) enhancing the oversight and financial controls of public enterprises; 4) strengthening the framework for managing fiscal policy including public debt; and 5) enhancing donor coordination. This grant also supports the preparation of new Poverty Reduction Strategic Paper (PRSP) based on an updated poverty profile originating from a 2010 household survey and an analysis of growth diversification options.