DBM seeks legislation of IMF-backed reforms

The Department of Budget and Management (DBM) is seeking the help of Congress in passing an organic budget law to institutionalize public fiscal management reforms recommended by the International Monetary Fund (IMF) after a recent assessment.

In a statement, the DBM said the government has begun implementing measures to address a number of concerns cited in the IMF’s recent Fiscal Transparency Evaluation (FTE) report, and is moving to insti tutionalize these reforms through the proposed Public Financial Management (PFM) bill.