The Finance and Public Accounts Committee (FPAC) chaired by the Leader of the Opposition Hon. Sebastien Pillay met with a delegation from the International Monetary Fund (IMF) on Friday 15th November 2024. Hon. Pillay was joined in the meeting by Vice Chairperson Hon. Terence Mondon, and Committee members Hon. Richard Labrosse, Hon. Conrad Gabriel, Hon. Churchill Gill, and Hon. Georges Romain. Assistance was provided by Committee Secretary and Deputy Clerk to the National Assembly Ms. Alexandria Faure, Second Secretary Ms. Shannon Surman, and Assistant Committee Secretary Ms. Sheryl Rangasamy.
The delegation comprised of Ms. Almudena Fernandez, Mr. Robert Clifton, Mr. Bruce Stacey, Ms. Trish Chiinze from the IMF and Executive Director at the Ministry for Finance, National Planning and Trade, Ms. Irene Croisee.
Discussions were primarily focused on the review of the Public Finance Management Act. The FPAC performs a vital function in public finance management as the legislature's oversight mechanism on public expenditure, and therefore has a vested interest in public finance laws. Other topics discussed included the management of public accounts, reviews of practices and manuals, as well as best practices. The Members of the Committee had the chance to pose questions and seek clarifications from the IMF delegation.
The meeting served to address the way forward in terms of consistency in the engagement between the FPAC and the IMF.
