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Business and Economics > Budgeting

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Cover High-Level Summary Technical Assistance Reports
Guatemala: Assessing Public Investment Management – PIMA and Climate Change PIMA
Jean-Baptiste Gros
,
Christophe Hémous
,
Noel Gallardo
,
Martha E Cubillo
,
Eduardo Aldunate
,
Jorge Baldrich
,
Rui Monteiro
, and
Margarita Rosas
In order to improve the efficiency of their capital investment and improve the access of the population to high-quality infrastructure, the Finance Ministry and the Planning general secretariate SEGEPLAN requested an IMF mission to apply: (i) the public investment management assessment (PIMA) methodology, developed by the Fiscal Affairs Department (FAD), to identify strengths and weaknesses in Guatemala’s public investment management and (ii) the Climate PIMA (C-PIMA) module to ensure climate change mitigation and adaptation are appropriately addressed in the public investment cycle. The mission proposed an action plan to improve public investment management.
Keywords:
Sovereign Wealth Funds; Debt Management; Public Financial Management; Legal Frameworks; IMF mission; climate change mitigation; capacity development recipient; management institution; investment project; Climate change; Public investment spending; Public Investment Management Assessment (PIMA); Budget planning and preparation; Central America
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
Guatemala: Fiscal Transparency Evaluation
International Monetary Fund. Fiscal Affairs Dept.
This paper discusses key findings of the Fiscal Transparency Evaluation report on Guatemala. Guatemala has transparency practices that achieve the ratings of basic, good, and advanced regarding three-quarters of the principles established in the IMF’s Fiscal Transparency Code. The wealth of information available and the systems in place related to the public sector’s execution of its budget, finances, and accounts allow for easy access by the population to an impressive volume of fiscal data. However, there is much room for improvement in the area of fiscal transparency. Establishing a new fiscal pact in which the medium-term fiscal targets are defined would help create fiscal predictability and ensure that the major challenges of social and economic development are met.
Keywords:
ISCR; CR; balance sheet; central government; accounts payable; fiscal year; financial asset; consolidated financial statement; insurance fund; profit and loss; organic law; Budget planning and preparation; Financial statements; Budget execution and treasury management; Public sector; Global
Cover IMF Staff Country Reports
Guatemala: Evaluación de la transparencia fiscal
International Monetary Fund. Fiscal Affairs Dept.
Guatemala tiene prácticas de transparencia que alcanzan los grados de básico, bueno y avanzado en tres cuartos de los principios del Código de Transparencia Fiscal del FMI. La amplia información y los sistemas disponibles relacionados con la ejecución presupuestaria, financiera y contable del sector público, permiten el fácil acceso de la población a un impresionante volumen de datos fiscales. También destaca la forma prudente en la que se elaboran y ejecutan los presupuestos, lo que ha permitido mantener una estabilidad fiscal.
Keywords:
ISCR; CR; balance sheet; central government; accounts payable; fiscal year
Cover IMF Working Papers
Bank Efficiency amid Foreign Entry: Evidence from the Central American Region
Torsten Wezel
This paper investigates the efficiency of domestic and foreign banks in the Central American region during 2002-07. Using two main empirical approaches, Data Envelopment Analysis and Stochastic Frontier Analysis, the paper finds that foreign banks are not necessarily more efficient than their domestic counterparts. If anything, the regional banks that were acquired by global banks in a wave of acquisitions during 2005-07 can keep up with the local institutions. The efficiency of these acquired banks, however, is shown to have dropped during the acquisition year, recovering only slightly thereafter. Finally, it is important to account for the environment in which banks operate, as country-, sector- and firm-specific characteristics are found to have a considerable influence on bank efficiency.
Keywords:
WP; technical efficiency; percentage; takeover
Cover IMF Staff Country Reports
Guatemala: Report on Observance of Standards and Codes: Fiscal Transparency Module
International Monetary Fund
This report provides an assessment of fiscal transparency practices in Guatemala in light of the requirements of the IMF Code of Good Practices on Fiscal Transparency. The assessment reveals that Guatemala has progressed in certain important aspects of fiscal transparency. A variety of measures have made it possible to modernize budget, treasury, and accounting procedures, improve management and control of public funds, and prepare timely budget execution reports. The annual budget and the ministry of finance website provide increasingly complete information on central government activities.
Keywords:
ISCR; CR; government; enterprise; budget; executive branch; organic law; government resolution; government transfer; government supplier; government regulation; government function; government priority; state funds; financial assets; government operation; government's enterprise sector; Budget planning and preparation; Budget execution and treasury management; Budget reporting; Public sector