Oceania State Sets Public Finance Trend
The government of the state of Oceania, Kiribati, has selected FreeBalance, a Public Financial Management (PFM) consulting and solutions company to help deliver an Integrated Financial Management Information System (IFMIS) .
FreeBalance discussed the functionality of this service in a statement, which read: “The functional scope of IFMIS covers budget preparation, budget execution, accounting, treasury, management , cash management, debt and grant tracking, asset management, and purchase order tracking. .
It is hoped that this integrated solution will contribute to governance and reform, while providing better levels of transparency, accountability and development results.
Hon. Dr Teuea Toatu, Vice President and Minister of Finance and Economic Development of Kiribati, said his government shares these goals.
He said: “The key priorities of Kiribati’s development plan are to eradicate poverty and reduce inequality and injustice through inclusive economic growth, human capacity building, state capacity building and strengthening institutions of good governance and democracy.
“Governance is one of our key priority areas and we look forward to strengthening accountability and improving service delivery through the implementation of IFMIS. »
Manuel Schiappa Pietra, president and CEO of FreeBalance, expressed excitement about his company’s possible influence on the island.
He said: ‘This is a transformative project in the Pacific Islands and supports the implementation of Kiribati’s development plan to create a sustainable, healthier, wealthier and peaceful nation’
“FreeBalance provides a proven technology platform to support the country’s continued growth, development and digital transformation initiatives in support of the government and citizens of Kiribati.”
FreeBalance’s solution spans the entire budget cycle and manages all critical government tax systems.