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Business and Economics > Budgeting

You are looking at 1 - 10 of 61 items for :

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Cover Technical Assistance Reports
The Gambia: Technical Assistance Report-Public Investment Management Assessment Update with the Climate Module
International Monetary Fund. Fiscal Affairs Dept.
The IMF’s Fiscal Affairs Department (FAD) conducted a Public Investment Management Assessment (PIMA) and Climate Module (C-PIMA) for The Gambia to assess public investment management (PIM) and its climate sensitivity. The assessment found improvements since the 2019 PIMA, including the 2020 Cabinet Memorandum for strategic project reviews, the 2023 SOE Act for centralized oversight, and enhanced procurement regulations. However, despite these institutional improvements, effectiveness has yet to catch up and, in some cases, has weakened. Climate resilience is also insufficiently addressed, with weak integration of climate risks into project planning and outdated regulatory frameworks. Key recommendations include establishing a public investment management information system, strengthening PIM oversight within the Ministry of Finance, formalizing project selection pipelines, and embedding climate-related criteria in investment decisions.
Keywords:
The Gambia; investment; PIM; PIMA; Climate; Climate Module; C-PIMA.; management institution; procurement authority; IMF climate policy diagnostic; capital cash outlay; D. investment allocation; climate PIMA; Public investment spending; Climate change; Budget planning and preparation; Infrastructure; West Africa; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Angola: Selected Issues
International Monetary Fund. African Dept.
2024 Selected Issues
Keywords:
WGI subcategory; governance indicator; Angola's governance; NON-OIL economic growth; Angola's economy; private sector credit; Corruption; Infrastructure; Human capital; Sub-Saharan Africa; Global
Cover Technical Assistance Reports
Republic of Tajikistan: Technical Assistance Report-Public Investment Management Assessment with the Climate Module
International Monetary Fund. Fiscal Affairs Dept.
This report summarizes findings from a Public Investment Management Assessment (PIMA) and the Climate Module (C-PIMA) conducted for Tajikistan. The assessment evaluated the country's public investment management practices, including their climate sensitivity. Tajikistan performs well in certain areas but faces significant gaps in others. Parallel external and internally financed processes present recurring challenges across Tajikistan’s public investment management framework, limiting consistency and strategic alignment. Implementing a comprehensive framework for overseeing all projects, regardless of funding source, would significantly improve efficiency and climate responsiveness.
Keywords:
Republic of Tajikistan; Public investment management; PIMA; C-PIMA; climate change; Green PFM; climate-sensitive infrastructure.; D. Investment allocation; authorities of the Republic of Tajikistan; investment project; Republic of Tajikistan analysis; Investment planning; priorities in Tajikistan; management institution; Public investment spending; Budget planning and preparation; Infrastructure; Central Asia; Central Asia and the Caucasus
Cover Technical Assistance Reports
Republic of Slovenia: Technical Assistance Report-Public Investment Management Assessment
International Monetary Fund. Fiscal Affairs Dept.
Slovenia’s public investment management institutions, as assessed by the PIMA, perform well overall relative to European peers. Availability of funding for public investment, fiscal targets and rules, maintenance funding and monitoring of public assets are areas of strength. Key areas for improvement are appraisal and selection of projects, procurement, and portfolio management and oversight. The near-term challenge will be to address bottlenecks in the execution of capital projects. Over the medium to longer term, tighter fiscal constraints will raise the premium for stronger appraisal and selection processes.
Keywords:
Public investment management assessment; PIMA; Infrastructure governance; project appraisal; medium-term fiscal planning; Republic of Slovenia.; State secretary; IMF's Fiscal Affairs Department; D. investment implementation; management institution; C. investment allocation; Public investment spending; Budget planning and preparation; Infrastructure; Fiscal risks; Capital spending; Eastern Europe; Europe; Global
Cover Technical Assistance Reports
Bosnia and Herzegovina-Republika Srpska: Technical Assistance Report –Public Investment Management Assessment (PIMA)
International Monetary Fund. Fiscal Affairs Dept.
There have been significant improvements in public investment management (PIM) in Bosnia and Herzegovina - Republika Srpska (RS) over the last decade and the legal and institutional design is now ahead of many regional comparators. The effectiveness of the PIM framework is lagging behind its design, and continued strong and consistent reform efforts will be important to eliminate remaining obstacles to efficient public investment. Many of these reforms are already underway or planned.
Keywords:
Public investment management assessment; PIMA; Infrastructure governance; project appraisal; medium-term fiscal planning; Bosnia and Herzegovina-Republika Srpska.; RS government; government of Republika Srpska; FAD mission; management institution; management in RS; D. investment allocation; Public investment spending; Budget planning and preparation; Capital spending; Infrastructure; Europe; Eastern Europe; Southern Europe; Global
Cover Technical Assistance Reports
Arab Republic of Egypt: Technical Assistance Report-Public Investment Management Assessment
International Monetary Fund. Fiscal Affairs Dept.
This report assesses the institutional design and effectiveness of public investment management (PIM) in Egypt. The report concludes that effectiveness is stronger than or on par with comparators for national planning and inter-governmental coordination, and weaker than the average comparator country on several other PIM institutions. Improvements in PIM will be important to close efficiency gaps and enhance the productivity of future public investments. Egypt’s Government has already taken several steps to improve the access to infrastructure and quality of public investment management, including through new legislation, new information systems and significant efforts to enhance staff capacities. The report provides five main recommendations for how these reform steps can be strengthened, sustained and further extended: 1) Strengthen project appraisal and selection processes; 2) Enable private sector involvement in public infrastructure provision: 3) Operationalize PFM law provisions for medium-term budgeting; 4) Strengthen asset management and ensure sufficient maintenance; and 5) Strengthen procurement, project and portfolio management.
Keywords:
Arab Republic of Egypt; PIMA; Investment; Infrastructure; Efficiency; Climate.; General government debt; procurement system; Ministry of petroleum; authorities of the Arab Republic of Egypt; Ministry of housing; Public investment spending; Budget planning and preparation; Middle East; Global
Cover Technical Assistance Reports
Indonesia: Technical Assistance Report-Subnational Government Endowment Funds
International Monetary Fund. Fiscal Affairs Dept.
The Indonesian authorities are exploring options for the establishment of subnational government endowment funds and the Ministry of Finance (MoF) has drafted regulations in that context. However, the motivations and objective for establishing an endowment fund at the subnational level diverge across various stakeholders. Clarity of the objectives and purpose of the endowment fund will be critical for informing features of its architecture, and the endowment fund should be aligned with the national fiscal policy objectives. Establishing such funds at a time of fiscal deficit entails a “borrowing-to-save” approach which is not optimal from a fiscal policy perspective. Currently, there is a misalignment between the design of inflow and outflow rules, the endowment fund’s objectives, and the fiscal/economic context. In addition, the current draft MoF regulations restrict the investment policy to conform with the law on decentralization enacted in 2022. This report emphasizes that regardless of the structure of the endowment fund, it needs to be fully integrated within the budget. The report also provides recommendations on assessing the full cost of the subnational government endowment fund, its design and implementation, and provides suggestions to improve the draft MoF regulations.
Keywords:
Indonesia; Subnational government; Local government; Endowment Fund; Sovereign wealth fund; Intergovernmental fiscal relations; Decentralization; Intergenerational wealth; Inflows; outflow rules.; CD recipient; IMF Resident representative; government endowment funds; IMF Fiscal Affairs Department; draft government; FAD expert; Budget planning and preparation; Investment policy; Budget execution and treasury management; Natural resources; Public employment
Cover Technical Assistance Reports
Guatemala: Technical Assistance Report-Public Investment Management Assessment – PIMA and Climate-PIMA (C-PIMA)
International Monetary Fund. Fiscal Affairs Dept.
[This report is available both in Spanish and English] At the request of the Finance Ministry and the Planning General Secretariat (SEGEPLAN) of Guatemala, an IMF team undertook a Public Investment Management Assessment (PIMA), including the Climate PIMA (C-PIMA) module, from May 30 to June 19, 2023. The main purpose of the mission was to identify strengths and weaknesses in Guatemala’s public investment management. The C-PIMA assessed how climate change related mitigation and adaptation measures are being addressed in the public investment cycle.
Keywords:
Public financial management; public investment management; Climate change; Guatemala; Central America; PIMA.; investment project; IMF-climate policy assessment tool; efficiency index; management institution; government investment agency; Public investment spending; Budget planning and preparation; Capital spending; Infrastructure
Cover IMF Staff Country Reports
Republic of Kosovo: Technical Assistance Report-Public Investment Management Assessment Update and Climate PIMA
International Monetary Fund. Fiscal Affairs Dept.
This paper highlights the details of the technical assistance (TA) report on Public Investment Management Assessment (PIMA) Update and Climate PIMA in the Republic of Kosovo. Public investment in Kosovo occurs in a fiscal environment where the general government deficit and debt is generally well contained. The overall strength of Kosovo’s public investment management institutions has increased—though the design of these institutions is stronger than their effectiveness in practice. The failure to undertake robust and consistent feasibility studies prior to project initiation is a key weakness, leading to delays and problems in project execution. In the implementation phase, design is stronger than performance, in part due to implications of weaknesses early in the planning stage. Like most other countries, Kosovo is at an early stage of incorporating climate aspects into public investment management. Dedicated effort and leadership from the Ministry of Finance, Labor and Transfers and the Ministry for Environment, Spatial Planning and Infrastructure will be key to boosting infrastructure outcomes.
Keywords:
Public investment; climate change; public finance.; scores compare; Kosovo Climate-PIMA; capital investment; project appraisal guideline; PPP assessment manual; government policy; Budget planning and preparation; Public investment spending; Capital spending; Infrastructure; Europe; Eastern Europe; Southern Europe
Cover IMF Staff Country Reports
Pakistan: Technical Assistance Report–Public Investment Management Assessment–PIMA and Climate PIMA
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report on Pakistan presents public investment management assessment (PIMA) and Climate PIMA. This report finds that while Pakistan scores slightly above average compared to the emerging market economies that have undertaken the PIMA to date there are still significant gaps in key areas the impede the delivery of critical infrastructure services in Pakistan. Pakistan has taken some important steps to improve public investment management, including through reforms incorporated in the Public Financial Management Act 2019 and the 2021 Manual for Development Projects. With Pakistan’s highly constrained budgetary resources, selecting the right projects for funding becomes even more critical. Government has some skilled staff that can move reforms to address these challenges forward, though it will be difficult. While some staff have a good understanding of strong practices, achieving implementation through changed approaches and culture across the public sector requires focused and sustained effort. Building knowledge of climate change aspects at all stages of the project cycle is also a priority.
Keywords:
Public Investment Management; Climate Change; Public financial management; Infrastructure Governance; climate PIMA; management ASSESSEMENT-PIMA; IMF's Fiscal Affairs Department; management institution; D. investment allocation; auditor general; Public investment spending; Budget planning and preparation; Climate policy; Infrastructure; Global