Prevention and Management of Government Arrears

Prevention and Management of Government Arrears

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The accumulation of government expenditure arrears is one of the most common problems in public financial management. This technical note defines expenditure arrears and the different types of arrears that arise. The economic impact of chronic expenditure arrears accumulation is highlighted. The note discusses the underlying causes and mechanisms for preventing and controlling the further accumulation of arrears. The note concludes with some strategies for managing and clearing arrears.Government expenditure arrears are financial obligations that have been incurred by any level of the public sector for which payments have not been made by the due date. ... as payment for construction of a road), or a continuing service arrangement (such as payment for electricity supply). ... For tax refunds owed to taxpayers, such as value added tax (VAT) rebates or income tax refunds, the obligationanbsp;...

Title:Prevention and Management of Government Arrears
Author: Suzanne Flynn, Mario Pessoa
Publisher:International Monetary Fund - 2014-07-09

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