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The 2013 World Bank note Pacific Islands: PFM Design under Capacity Constraints (pdf) informs PFM reform in small Pacific Island Countries (PICs). PFM systems in PICs are very different from the sophisticated and comprehensive systems operating in larger, wealthier countries. What can governments and donors do when achieving across-the-board “good practice” standards is not feasible? The note answers questions such as:
- What should be done immediately, and what can wait?
- How can reforms be implemented and sustained with limited available capacity and financial resources?