The acronym PFM stands for Public Financial Management: But what does public financial management really mean?
Matt Andrews, Marco Cangiano, Neil Cole, Paolo de Renzio, Philipp Krause, and Renaud Seligmann have published a new paper on demystifying the concept of public financial management (PFM), drawing on their experiences as specialists in different contexts and with different views (from academia, the multilateral and bilateral development agencies, think tanks, government, and civil society). This paper provides an entry point for discussion on the constituent elements of PFM systems, how and why PFM reforms have emerged, and points to gaps for future attention. You can read it here.