The Council of Ministers of Finance of Central America, Panama, and the Dominican Republic (COSEFIN), aiming to coordinate efforts on issues of great importance to the region and to organize the work to be carried out in relevant areas, agreed in July 2015 to request its Executive Secretariat to develop a work plan that included the priorities of each member ministry.

In February 2016, the ministers reached a consensus and approved an initial matrix of fiscal priorities. In September of that same year, COSEFIN instructed its Executive Secretariat to reorganize the Fiscal Priorities Matrix (FPM) and recommended prioritizing seven topics.

In March 2017, the topics of interest contained in the FPM were approved. From that moment on, the FPM became the guiding instrument for COSEFIN’s regional work, which is based on the following areas:

The Fiscal Interest Matrix (MIF) and its Operational Plan have become COSEFIN’s main working instrument, defining, above all, the fiscal policy priorities in the region and serving as a roadmap to guide the efforts of COSEFIN’s member ministries in harmonizing these fiscal policies and improving coordination of regional macroeconomic policy.

On June 23, 2021, in response to the effects of the COVID-19 pandemic in the region, COSEFIN issued a special resolution, “United for Post-COVID-19 Economic Recovery,” instructing the COSEFIN Executive Secretariat to carry out the process of adjusting the Regional Work Plan of the COSEFIN Fiscal Interest Matrix (MIF), in coordination with the members of the Fiscal Policy Working Group (GTPF). This adjustment aims to integrate certain relevant issues into the plan, which must be clearly reflected and will allow for the promotion of harmonized and coordinated actions to be addressed consensually at the regional level.

Therefore, the following new topics of interest are included: