Agile Treasury Operations During COVID-19 [book]

World Bank
2020 unpublished
COVID-19 may well establish a new normal and an emergency call for process efficiencies, digital government, and preparedness. Agile treasury operations are critical and essential to support responses to the spread and treatment of coronavirus disease 2019 . In many cases, this approach requires open and new ways of thinking ranging from making cash available to pay for public services, to processing and disbursing payments with minimum bureaucratic layers, to reporting in a timely and accurate
more » ... manner to ensure transparency. Organized around three core areas of treasury operations, this note provides suggestions and guidance in three action areas: 1. Ensure business continuity for treasury operations ✓ Put in place a Treasury Crisis Management Committee to develop and execute a business continuity plan for treasury covering spatial distancing, staff deployment, and interim emergency treasury instructions ✓ Prepare and deploy a communication plan and strategy that aims to provide accurate and consistent information ✓ Regularize home-based work (HBW) where feasible through urgent measures 2. Operationalize emergency arrangements. These include revised procedures for disbursements, payments, and cash management ✓ Put in place amended instructions for interim emergency treasury operations ✓ Prioritize payment processing based on a tiered response; for example, payments that can be continued, accelerated, or suspended ✓ Review cash management, treasury single account, and funds flow arrangements. Aggregate idle cash into the consolidated fund; allow funds to flow quickly and directly to service delivery units and subnational governments;
doi:10.1596/33649 fatcat:hr5ecsqworhlvbohjzd5gxma4a