PUBLIC FINANANCIAL MANAGEMENT ENHANCEMENT PROJECT (PFMEP) EXTENSION
The Government of Zimbabwe and the World Bank have officially extended the Public Finance Management Enhancement Project (PFMEP) to 31 May 2020. The current project closure date was 31 December 2020. The project extension is critical for the operationalization of all the reforms implemented under the five (5) components of the project. The extension will ameliorate for all project delays caused by various factors particularly the outbreak of the Covid 19 pandemic. It will also allow for the completion of any outstanding project activities under the various work streams.
PFMEP encompasses a raft of Public Sector Finance Management Reforms that seek to transform the management of the public purse in Zimbabwe. Government of Zimbabwe is implementing the project with support from Donor partners. The entire project includes the expansion of GoZ’s current accounting system (PFMS), migration to a new chart of accounts, strengthening of internal controls and reporting, strengthening external auditing, improving the oversight role of Parliament in public finances and facilitation of effective project management and monitoring. The project extension decision by the Government of Zimbabwe and its Donor Partners is highly commendable. The extension will certainly guarantee the successful completion of the project and subsequent uptake.