The United States Department of State has released its 2025 Fiscal Transparency Report, a congressionally mandated assessment designed to evaluate the openness and accountability of governments around the world.
According to the report, published on September 19, 71 of the 140 governments and entities assessed met the minimum fiscal transparency standards, while 69 failed to do so. However, of those that fell short, 26 made what the Department described as “significant progress” toward meeting the minimum requirements.
The report, which reviews fiscal year data between January 1 and December 31, 2024, underscores the U.S. government’s position that transparency in public financial management is central to effective governance.
“Fiscal transparency is a critical element of effective public financial management, helps build market confidence, underpins global economic stability, and levels the playing field for U.S. firms,” the Department noted.
The review evaluated whether governments publicly disclosed national budget documents, contracts, and licenses, and whether such documents were substantially complete and reliable. It also assessed the transparency of processes for awarding government contracts and licenses, including public procurement.
The 2025 assessment builds on earlier benchmarks, particularly the 2014 Fiscal Transparency Report, which first identified governments receiving U.S. assistance that required monitoring.
The latest findings are consistent with requirements of the FY 2024 Department of State, Foreign Operations, and Related Programs Appropriations Act, as extended by the FY 2025 Continuing Resolution.
By releasing the annual report, the Department said it aims to foster greater government accountability, ensure appropriate use of U.S. taxpayer funds, and encourage reforms that improve fiscal openness in partner nations.
The 71 nations that met the minimum fiscal transparency standards are: Albania, Argentina, Armenia, The Bahamas, Benin, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Burkina Faso, Cabo Verde, Chile, Colombia, Comoros, Costa Rica, Côte d’Ivoire, Croatia, Czechia, Estonia, Fiji, Georgia,
Others are Ghana, Greece, Guatemala, Guyana, Honduras, Hungary, India, Indonesia, Israel, Jamaica, Jordan, Kazakhstan, Kenya, Kosovo, Kyrgyz Republic, Latvia, Lithuania, Malaysia, Malta, Mauritius, Mexico, Micronesia (Federated States of), Moldova, Montenegro, Morocco, Namibia, Nepal, North Macedonia, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Rwanda, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Sri Lanka, Thailand, Timor-Leste, Trinidad and Tobago, Tunisia, Türkiye, Uganda, and Uruguay.
Some of those that failed are: Nigeria, Afghanistan, Algeria, Angola, Azerbaijan, Bangladesh, Belize, Burma, Cameroon, Central African Republic, Chad, China, Ethiopia, The Gambia, Guinea-Bissau, Libya, Malawi, Mali, Mauritania, among others.
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