The International Monitory Fund (IMF) has concluded two-day training for workers of finance ministry on cash management system.
The skills-training was done by IMF’s advisory public financial management (PFM) specialist resident, Ilyas Tufan.
The program was held at the Ministry of Finance Treasury Building, Conference Hall on George Street, in Freetown.
The training targeted senior staff from the public debt management division, budget bureau, accountant general department, micro fiscal division, public financial management reform unit, revenue and tax division, and fiscal risk division and staff of the Ministry of Finance, Bank of Sierra Leone, and the National Revenue Authority.
The training covers areas of cash management systems, principles of cash management systems, characteristics of modern cash management systems, Treasury Single Account (TSA) concepts, cash buffer concepts and other cash management issues.
Ilyas, IMF resident specialist, said the training also covers cash forecasting concepts, processes, core components, budget execution and cash management and forecasting, forecasting methods, developing a cash forecasting framework.
He was citing examples from Turkey, the UK and other countries linking the discussion to Sierra Leone’s context on its overall cash management system.
The workshop is believed will help improve cash management systems, reduce audit issues, and narrow the gap in cash management and the overall public financial management system of the country.
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