Improving Financial Management of the Governments of the Americas

Several factors have created an environment that encourages the development of improved financial management systems in the Western Hemisphere. The U.S. Agency for International Development recently created the Latin American and Caribbean Regional Financial Management Improvement Project (LAC/RFMIP) which has several region-wide initiatives underway as well as country-specific activities. In addition, other donor/lender institutions, such as the United Nations, have major projects in progress in the region and a regional Donor Working Group composed of ten donor agencies meets regularly to coordinate activities. A comprehensive catalogue of all financial management improvements in the region has been prepared for the use of the Working Group. Finally, AID has drafted a long-term strategy for improving financial management which is being circulated for comments.