Effective public financial management (PFM) — when performed with accountability to civil society — is the bedrock of economic growth and political stability. This is true at the national level and when devolved to provinces or municipalities. Donors invest in PFM programming and its related areas of good governance, anti-
corruption, and decentralization to build the capacities of the public sector and civil society to plan, monitor, and demand accountability across the PFM lifecycle and on the journey to self-reliance.

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