Public Financial Management (PFM) refers to the processes and systems that governments use to plan, execute, and monitor their financial resources. It involves budgeting, accounting, and reporting to ensure that public funds are used efficiently and effectively. PFM aims to promote transparency, accountability, and good governance in the management of public finances. Effective PFM helps governments achieve their policy objectives by allocating resources to priority areas such as healthcare, education, and infrastructure. It also plays a crucial role in maintaining fiscal discipline and ensuring that public services are delivered to citizens in a timely manner.