Publications

Georgia is a long term, active participant in PEMPAL and has both drawn on knowledge from experts and peers and has passed on valuable lessons learned based on its experience, including on its reform of treasury operations. The success story illustrates the impact of the discussions at PEMPAL Treasury Community of Practice events on introducing information exchange between the national treasury and procurement agency that helped to significantly reduce fraud and strengthen treasury control and on introducing a cash buffer and moving to more active cash management that resulted in additional interest revenues reaching 0.72% of the national annual budget. The experience of Georgia in modernizing treasury operations has, in turn, made a significant impact on treasury development in other PEMPAL countries.