The management of public finances is beset by problems of inefficiency and a lack of transparency. Governments struggle to keep track of how their funds are spent. They are forced to expend substantial resources in tracking and reporting their payments and obligations. OMFIF, in partnership with EY, has launched a report to study the degree to which digital improvements to the systems underpinning these functions, perhaps employing blockchain, could improve operational efficiency, oversight and analysis of how best to deploy resources.
One area where this technology could swiftly yield benefits is in ESG capital markets. Investors are increasingly under regulatory pressure to disclose the impact of their portfolios. Accordingly, the demand for bond issuers to report on the way the proceeds of their bonds are spent has also increased. Giving green bond issuers the opportunity to trace funds they disburse more effectively and collect better data on how the money is used could be an immensely valuable innovation.
09:00- 10:00 (New York)
21:00- 22:00 (Singapore)
Global Lead for Public Financial Management
This meeting will be conducted under the OMFIF Rules.
This virtual discussion is part of the OMFIF Digital Monetary Institute. The OMFIF Digital Monetary Institute is a high-level forum which convenes key policy-makers, technology experts, investors and regulators to explore the challenges, opportunities and implications of digital finance in the 2020s. See more information on OMFIF’s DMI here. Please contact email@example.com directly for membership details or register your interest below and we’ll be in touch.