Pursuing Financial Reforms Across Countries: Perils, Stresses and Rewards (ePub)

Government fiscal management systems have, in the last few decades, been evolving towards achieving greater transparency in government operations and accountability to international investors and the public, while delivering sustainable medium-term economic policies. Many countries slow to change were under pressure from international financial organizations to quickly adopt new standards. Implementation of reforms involved re-engineering of underlying processes and use of advanced information technology and communication tools, often requiring external expertise and financing.Subra Ramamurthy, an international specialist in this field, has worked in approximately 25 countries. These range from Tanzania to Papua New Guinea to countries transitioning to market economies like Kazakhstan and Russia as well as the tumultuous Middle East, including Iraq and Palestine.Setting aside fuzzy diplomatic-speak of international organizations, this finance management specialist provides a frank disclosure of challenges faced whilst bringing about reform in countries of diverse cultures, historical legacies, and civil service mindset.He and his family faced stress and dangerous situations as his efforts discovered large-scale misappropriation of government funds and unauthorized diversions. However, he believes, these were balanced by the personal satisfaction of preparing reform roadmaps and witnessing their full implementation using the latest technology.Analytical and informative, this book is a frank expert account on the minefield of troubled economies. Peppered with personal anecdotes, it provides an insight into the successful achievement of fiscal system reforms.