The Future of the Finance Ministry report is based on interviews with 10 senior leaders from finance ministries around the world, led by John McCarthy, chief economist in Ireland’s Department of Finance
A global study of government finance leaders has revealed shared priorities and challenges in an era of unpredictable geopolitics and rapid digital transformation.
The Future of the Finance Ministry study – published today (5 May) by Global Government Forum and sister title Global Government Finance – is based on interviews with 10 senior leaders from finance ministries around the world.
The interviews were led by John McCarthy, chief economist in Ireland’s Department of Finance, working with Ian Hall, editor, Global Government Finance, and Richard Johnstone, executive editor, Global Government Forum.
“In a world where ‘disorder is the new norm’, the traditional role of the finance ministry is undergoing a fundamental transformation,” McCarthy writes in the foreword.
“While these institutions have long served as the gatekeepers for the public finances, the pressures they face now are pulling finance leaders into complex areas where they have historically lacked operational responsibility – ranging from trade policy and supply chain vulnerabilities to climate mitigation and adaptation,” he notes. “This study explores how ministries are navigating this volatile landscape.”
Four key themes are identified: the evolving role of the finance ministry in response to uncertainty; the shift to more flexible finance systems that support outcomes; digital transformation and the growth of artificial intelligence; and the battle for talent and trust.
Read the research in full: The future of the finance ministry
‘Era of global uncertainty’
Trends include a growing stewardship and horizon-scanning role for finance ministries; difficult trade-offs as demands for investment, security, and societal outcomes collide with increasingly constrained fiscal envelopes; and the need to overcome barriers to better using data and AI.
“This research delves into each of these themes, providing first-hand insight into the work of finance ministries today,” Hall said.
“Studies such as this pinpoint the issues that are most pressing for the most senior finance leaders internationally, and we will use these findings to drive our editorial, events, and collaborative work going forward,” he added.
The interviews were conducted using a semi-structured interview framework covering areas such as vision, skills and leadership, culture, technology, and collaboration. This framework was developed based on themes identified through Global Government Finance’s annual Finance Summit, which brings together finance leaders from around the world.
Interviewees were: Lai Chung Han, permanent secretary, Ministry of Finance, Singapore; Carlos Guberman, secretary of the Treasury, Argentina; John Hogan, secretary general, Department of Finance, Ireland; Andrew Lai Chi-Wah, permanent secretary for financial services and the Treasury, Hong Kong; Struan Little, chief strategist, Treasury, New Zealand; Chidozie Ofoego, financial secretary, Government of Bermuda; Dorothée Rouzet, chief economist in France’s Treasury; Merike Saks, secretary general, Ministry of Finance, Estonia; Bas van den Dungen, secretary general, Ministry of Finance, The Netherlands; and Matt Yannopoulos, secretary, Department of Finance, Australia.
WEBINAR: REGISTER TO ATTEND The future of the finance ministry unpacked – and what it means for government – on 24 June 2026, focused on the research’s findings
‘Maturity curve of transformation’
Microsoft is the knowledge partner for the report.
“This study provides a vital check for leaders to understand where they sit on the maturity curve of transformation now – and what the key elements of a modern finance ministry should be,” comments Microsoft’s public finance and social services global lead, Valentina Ion, in the report’s afterword.
“With this clarity, finance ministries can look confidently to embracing new technologies, and move from simply balancing the books to anchoring the national economy in an increasingly unsettled world.”
The report is published shortly after Global Government Fintech was renamed as Global Government Finance, reflecting the acceleration of digital finance into the mainstream and the increasing importance of innovation for public sector finance leaders.
The Global Government Finance Summit is a unique event that brings together senior civil servants from finance ministries around the world. Enquire about attending the Global Government Finance Summit: 14-15 September 2026, Dublin.