Guatemala - Smart Public Finances : Data-Driven Public Expenditure Management for Greater Efficiency Project

Overview & Synopsis

The development objective of the Smart Public Finances: Data-Driven Public Expenditure Management for Greater Efficiency Project for Guatemala is to enhance effectiveness, efficiency, and accountability of public expenditures. The project comprises of three components. The first component, foundations for smart public financial management (PFM) consist of following sub-components: (i) improving budget, public debt, treasury, and accounting processes and methodologies; (ii) strengthening planning and investment management; (iii) strengthening administrative and resource management processes and methodologies; and (iv) enhancing fiscal transparency and refining processes for the production and utilization of Information. The second component, secure and sustainable PFM information ecosystem consists of following sub-components: (i) updating core PFM information systems; (ii) updating and integrating peripheral financial management systems; (iii) implementing a data analytics platform; (iv) enhance the information and communications technology (ICT) infrastructure to support the information ecosystem; and (v) developing an information security and business continuity system. The third component, governance, capacity, and knowledge sharing consist of following sub-components: (i) supporting PFM governance and change management; (ii) building capacity in PFM and data analytics; and (iii) supporting regional knowledge sharing and cooperation.