BTr, IMF deepen technical cooperation on public financial management

THE BUREAU of the Treasury (BTr) and the International Monetary Fund (IMF) are looking to expand their technical cooperation to modernize the country’s public financial management system, including exploring the use of artificial intelligence in treasury operations.

In a statement on Monday, the Treasury bureau said it met with representatives from the IMF to discuss capacity development and strengthen their partnership on fiscal and debt management initiatives.

“The discussions focused on harmonizing technical assistance provided by the IMF and World Bank in supporting the country’s evolving fiscal priorities, particularly through modernized public financial management and enhanced market development,” it added.

“Participants explored strategies to advance cash and debt management, fiscal risk management, fiscal transparency, and government financial systems, which include the use of machine learning and other artificial intelligence tools to improve cash flow forecasting and overall treasury operations.”

The two sides also discussed how to strengthen fiscal reporting and the transparent disclosure of contingent liabilities, the BTr said.

“This meeting reinforced the longstanding partnership between the BTr and the IMF, as well as their shared commitment to strengthening fiscal institutions through responsive and impact-driven capacity development.”

Looking ahead, the BTr and the IMF plan to expand their cooperation through regional training activities, targeted technical assistance, and the exchange of international best practices.

These initiatives are expected to support ongoing public financial management reforms by strengthening institutional capacity, improving fiscal transparency, and enhancing treasury operations, the Treasury said. — Justine Irish D. Tabile