Overview
The Department has built relationships with key economic governance institutions to support access to international markets and continuous improvement in public financial management. Key relationships include:
- The International Monetary Fund, one of whose functions is Article IV financial surveillence
- The Asian Development Bank – a key donor supporting investment in public financial management reform, financial literacy, and infrastructure, including the Port redevelopment project
- OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, supporting international transactions for Nauru registered businesses and citizens
- Pacific Financial Technical Assistance Centre (PFTAC ) that supports improvements in public financial management
Institutions
IMF and World Bank – web information
Article IV surveillance is an obligation of IMF membership. The IMF holds consultations with Nauru every year to review Nauru’s performance, and publishes a report every two years.
Nauru works with the OECD Global Forum on Transparency and Exchange of Information for Tax purposes.
In June 2019, Nauru received ratification from OECD Global Forum of Nauru’s ‘largely compliant’ rating with OECD Standards as a result of the Fast Track review undertaken by Global Forum assessors.
Minister’s Statement
Nauru’s MACC Instrument of Ratification
OECD Website
Global Forum on Transparency and Exchange of Information for Tax purposes: Nauru Phase 2 Status 2019.
Nauru works with PFTAC to progress key governance reforms. Recent work with PFTAC has included:
- Implementation of IPSAS cash accounting and reporting
- GFS reporting
- Tax policy review
Contacts
Secretary for Finance
Department of Finance
Government Offices
Yaren District
Nauru
