MFEM is a central agency in the Cook Islands Government responsible for advising the Government on financial and economic issues.
MFEM vision is as follows,
“MFEM shall be a competent and professional organisation, inspiring public trust in managing public finances in pursuit of our national development aspirations”
The Minister responsible for Ministry of Finance and Economic Management is Hon. Mark Brown. The ministry is headed by Financial Secretary Garth Henderson.
MFEM consists of six divisions, Revenue Management, Development Coordination, Treasury, Statistics Office, Economic Planning Division and the Major Projects and Procurement Support Division which need to work together to provide a cohesive service to the Government. As a result of its functions MFEM is always involved in some form of review, recently this includes the:
• Structural review of government undertaken by the OPSC in conjunction with the ADB;
• PEFA review of the public financial management systems and processes;
• Procurement review of government procurement; and
• Sovereign wealth and loan fund review on how to manage seabed mining revenues and debt reserves.
2020