Our work is guided by our philosophy on what a functional PFM system involves:

• We believe in sustainability and budget discipline.
• We believe in affordable and sustainable public debt that is guided by a credible debt and cash-management strategy.
• We promote strong local debt capital markets that allow for the execution of borrowing programmes with minimum costs and risks.
• We believe in creating space and procedures for accountable and transparent political decision-making.
• We hold that there must be one transparent process, based on policy priorities and performance, that allocates all budget revenue.
• We make sure that the practices and procedures we apply in planning and execution truly work towards achieving value for money. This includes good cash-management and procurement practices.
• We believe in the rule that “the budget you vote for is the budget you execute”, and that, with regard to both execution and planning, transparency should be a guiding principle.
• We maintain that a functional PFM system requires a properly functioning Ministry of Finance and finally,
• We firmly believe that accountability is at the core of every functioning PFM system. Consequently, the structures, procedures and rules that ensure accountability must be enforced.