The meeting, second for the Network this year, was hosted by the Organization for Economic Cooperation and Development (OECD) and chaired by José Luis Escrivá. It was attended by representatives from 22 IFIs of the EU plus the Serbian Fiscal Council as observer.
The first working session followed up on the state of affairs in the main initiatives of the Network, and discussed current issues of special relevance. In particular, there was an exchange of views on the establishment of the new European Fiscal Board (EFB) whose members have been appointed recently and which could become operational soon. The Network’s members supported a meeting between their President and the EFB before the end of 2016 with the aim to establish a first contact and exchange opinions on the relations between this new institution and the national IFIs. Also, the Network was reminded of the possibility for this year’s recommendation from the EU Council to the euro area to refer to the importance of national fiscal frameworks (NFF) with a special focus on the IFIs. During this first session, the Network also discussed questions surrounding the external evaluation of IFIs and the results from a recent survey among IFIs on the practical implementation of the Comply or Explain principle.
In a new initiative of the Network, Chiara Goretti (member of the Council of the Italian Parliamentary Budget Office (Ufficio Parlamentare di Bilancio has been appointed to chair a working group on medium-term budgetary frameworks