This Country Financial Accountability Assessment (CFAA) for Argentina was prepared jointly by the World Bank (WB) and the Inter-American Development Bank (IDB) on the basis of information timely collected during two missions that visited Argentina in December 2005 and April 2006. The objective of this CFAA is to provide: (i) a diagnosis of national-level Public Financial Management (PFM) systems and practices
and (ii) an analysis of major issues that affect national-level PFM core processes, such as budgeting, accounting and financial reporting, and debt management and the control system. In addition, this CFAA provides an analysis of PFM arrangements for World Bank (WB) and Inter-American Development Bank (IDB) funded operations. The CFAA also assesses progress and points to further steps leading to better PFM, identifies the effect of the country's last economic crisis on that trajectory, describes the strengths and challenges of the system as it currently works and the obstacles impeding further progress, and recommends short and long run corrective measures.