Maximizing Government Cost Savings: Indicators for Calculating Cost Savings from Centralizing and Digitizing Payments

To provide an effective response to the COVID-19 pandemic and foster an appropriate environment for economic recovery,
LAC governments need to reach a holistic, up-to-date understanding of the resources available to them. Adopting a treasury single account (TSA) and digitizing revenue collection may help achieve these objectives.This study shows that improving treasury management in LAC by implementing TSAs and digitizing revenue collection and payments could generate potential annual savings of US$1.1 billion (approximately 0.15% of total tax revenues) for FOTEGAL (Latin American Government Treasury Forum) member countries.