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Thailand Finance Ministry Officials Stress Checks-Balances of Decentralisation.
Byline: Wichit Sirithaveeporn
May 2--For some economic planners, it's the stuff of nightmares -- a rural province launches a bond issue to finance a new road project. But construction is mired in a corruption scandal, the province defaults on its obligations and the central government is forced to come to the rescue to plug the budgetary black hole.
Unthinkable? Perhaps not. For while many top Finance Ministry officials say they support the principle of decentralisation, they add that establishing proper checks-and-balances, instilling the concept of fiscal discipline and ensuring transparent, open operations for local administrations are key prerequisites before allowing communities the power to run their own funds.
After all, implementing good public sector governance at national level has proven difficult enough. When one shifts to the provincial level, the picture becomes even more muddled by vested business interests and local political chieftains.
Yet for proponents of ...
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