Hosting the ICGFM’s Discussion on Strengthening PFM Processes in Global Post-pandemic Economic Recovery

On November 24, PMCG led an online panel at the second in a series of Community of Practice in Public Financial Management (PFM) events entitled “How to Accelerate Recovery – Post Covid-19,” organized by the International Consortium on Governmental Financial Management (ICGFM).

The second Community of Practice event was focused on ways to enhance countries’ stimulus programs (and associated processes) and to determine how funding can be most effectively used to restart struggling economies once the pandemic eventually ends. Many countries are finding themselves unable to relaunch their economies as the pandemic prevails, with almost all energy and funds being devoted to healthcare.

Mr. Aleksi Aleksishvili, CEO and Chairman at PMCG as the host of the Europe and Central Asia panel, discussed the above-mentioned issues in a regional context with the main focus being on case-studies of Albania, Ukraine, and Georgia, each of which has responded differently to the economic effects of the pandemic.

“In these hard times of global pandemic, good public financial management is more important than ever to ensure efficiency and transparency in resource management. I think that this session turned out to be quite fruitful as we debated the various practices dealing with this crisis and its reverberations, in search of the most effective path forward. We made our own small contribution to generating some knowledge on the restoration of economies post-COVID-19 worldwide, while maintaining constructive PFM processes and guaranteeing conditions that are more oriented toward growth and prosperity for all,” said Mr. Aleksishvili.

In 2019, PMCG joined the Board of the ICGFM, which serves as a leading global organization, uniting government entities, institutions, professional associations, university departments, and high-level financial management professionals, in order to increase its involvement in enhancing accountability, transparency, and good governance at the international level.