Public Financial Management - Fiscal Year 2026
Iraq
Treasury Single Account Implementation
This follow-up workshop in September on Treasury Single Account (TSA) implementation with the Ministry of Finance of Iraq included stakeholders from the Ministry of Finance, Central Bank of Iraq, and seven State-owned banks. The main objectives were to: (i) review progress made since the last TSA workshop; (ii) update the TSA roadmap, and (iii) update the TSA concept note. Participants discussed the progress of the bank account inventory, the roll-out of the core-banking system in state-owned banks, the TSA design options and coverage, review of the draft TSA concept note, coordination and procedural arrangements for banking services, cashflow forecasting, and training for spending units. The authorities requested a follow-up workshop in early 2026 to include regional peer-learning component and share experiences in implementing TSA reform.
Lebanon
Macro-fiscal Forecasting (July- August)
METAC supported Lebanon in developing the medium-term fiscal framework (MTFF) for the 2026 budget preparation process. The mission is part of the continued support to the Lebanese Ministry of Finance (MoF) on strengthening the macro fiscal framework by developing the macro-fiscal indicators and improving fiscal projections for fiscal years 2026-2029. The aim is to restore MoF’s macro-fiscal functions and improve the contribution of the MTFF in budget preparation and the management of fiscal risks. The Macro-fiscal Unit (MFU) team reviewed the main assumptions and methodology used to develop 2026 estimates and to contribute to the budget preparation process. The mission focused on enhancing forecasting methods for main economic and fiscal objectives over the medium term, strengthening the model linkages comprehensively and consistently, and explaining the forecasts’ main underlying assumptions.
Morocco
AI in internal audit (May-June)
A joint mission by METAC and the IMF’s Fiscal Affairs Department (FAD) supported the Inspectorate General of Finance (IGF) of Morocco in developing an AI strategy to enhance the efficiency of its fiscal oversight processes. The strategy aims to enable the IGF to conduct more audits annually by leveraging AI. To guide this work, the mission delivered a workshop to apply FAD’s Framework for Strengthening the PFM Enabling Environment for Digitalization and used the PFM AI Maturity Model to assess IGF’s AI readiness. The thorough AI readiness assessment was based on IGF-provided information and several rounds of field-based and remote consultations, including the relevant divisions of the Ministry of Economy and Finance and the Ministry of Digital Transformation. It revealed the strengths and weaknesses of the IGF and provided recommendations for improvements. A set of Key Performance Indicators was also developed in collaboration with the IGF team to monitor the progress of AI implementation. The authorities actively participated in developing the strategy and expressed appreciation for the findings.
Sudan
PFM Law (May-June)
Since November 2024, METAC is providing ongoing support to Sudan for the development of an integrated PFM law, which the authorities consider to be a prerequisite for the implementation of in-depth PFM reforms. In May and June, METAC suggested the addition of a chapter fully dedicated to financial management to streamline and strengthen the structure of the proposed law. METAC also provided comments on treasury, accounting, and audit chapters to strengthen their content and consistency. METAC organized weekly discussions with the authorities to make drafting recommendations on budget preparation with a focus on reform-oriented articles, including top-down budgeting, strategic budgeting (concepts, tools etc.), organization of the budget process and its calendar, budgeting for fiscal risks, and budget documentation.
Development of a PFM Law
METAC continued the provision of remote technical assistance during July to October to the Ministry of Finance and Economic Planning (MoFEP) of Sudan for the development of a modern PFM law that will serve as long-term foundation for the PFM reforms. The authorities strengthened the sections related to the oversight of public bodies and SOEs, financial management, fiscal federalism, transitional arrangements and violations and penalties. The proposed law introduces fiscal responsibility principles, reforms budget planning and management, institutionalizes modern cash management and the Treasury Single Account, and requires the adoption of international public sector accounting standards. It also enables digitalization of PFM processes and establishes MoFEP’s oversight and control over all public resources. METAC discussed with the authorities including State Minister of Finance the next steps including support for the development of the PFM law regulations.
Syria
Assessment of Core PFM Functions
IMF staff completed the first CD visit to Syria in 14 years. This successful joint HQ–METAC mission from October 26-30 engaged senior officials across the Ministry of Finance and the Central Bank and reviewed ongoing reforms, including the introduction of a digital budget platform, plans for a Treasury Single Account (TSA), and steps to improve fiscal reporting. The mission provided practical guidance on finalizing the 2026 budget, advised on steps to strengthen future budget planning, and discussed measures to consolidate government bank accounts and enhance cash forecasting. The authorities expressed strong commitment to continued collaboration, including follow-up capacity development on the preparation of the 2026 Budget, cash forecasting, TSA implementation, and fiscal reporting.
Yemen
Treasury Single Account (TSA) Reforms Implementation
In October, METAC supported a high-level delegation from the Ministry of Finance of Yemen led by the First Undersecretary in the identification of short-term options for TSA structures that modernize existing banking arrangements and enable the consolidation of cash assets without requiring legal or regulatory changes. The authorities developed a vision and a strategic workplan for the implementation of longer-term TSA reforms and identified key prerequisites and measures needed for the implementation. The mission delivered a two-day workshop to enhance MoF’s understanding of the TSA concept and the differences between centralized and decentralized systems of budget execution. It presented different international examples for institutional arrangements, technological infrastructure for TSA, and reform paths for TSA implementation and budget execution. A representative from Jordan’s MoF presented the country’s TSA reform experience and shared the lessons learnt.
