Latin American & Caribbean round-up: Cayman: scrutiny of public spending to be cut, and more

16 Oct 15

A round-up of public finance news stories from Latin America & the Caribbean you might have missed.

 

Cayman: scrutiny of public spending to be cut

The introduction of multi-year budgeting following amendments to the Public Management and Finance Law, which was passed by legislators on Wednesday, will cut the scrutiny and transparency on government spending as it will reduce the number of Finance Committee meetings during the life of a parliament. (Cayman News Service)

BofA says Colombia uses creative accounting to hit fiscal target

Colombia is using “creative accounting” to hit its budget targets by using assets from a disability pension fund to finance current spending, according to Bank of America Corp. (Bloomberg)

Rousseff closer to impeachment: government accounting practices 'illegal' says Accounts Court

Brazil's President Dilma Rousseff suffered a major new setback when a court ruled that her government's accounting practices were illegal, handing ammunition to opponents threatening impeachment proceedings. The decision by the Federal Accounts Court or TCU was the latest blow to Rousseff, less than a year into her second term. (Merco Press)

Jamaica: privatisation of airports necessarym says minister

Minister without portfolio in the Ministry of Transport, Works and Housing, Dr Morais Guy, says privatisation of the Sangster International Airport and the similar action to be taken at the Norman Manley International Airport are to bring both facilities up to world class standards. (Jamaica Observer)

Honduran bank to reopen amid fears its eventual liquidation will create a panic

Honduras' eighth largest bank is expected to reopen its doors Wednesday amid depositor fears that its liquidation could contaminate the rest of the country's financial sector. (Fox Latino News)

 

 

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