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How to Improve Public Investment Management in Low-Income Countries
Author:
Khaled Eltokhy
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,
Nicoletta Feruglio
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,
Kezhou Miao
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Arturo Navarro
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Eivind Tandberg
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Series:
IMF How To Notes
Volume/Issue:
Volume 2025: Issue 001
Language:
English
Publication Date:
15 Jan 2025
DOI:
https://doi.org/10.5089/9798400297175.061
ISBN:
9798400297175
ISSN:
2522-7912
Pages:
31
Keywords:
Public investment management; public financial management (PFM); low-income developing countries; public investment management assessment (PIMA); public investment efficiency; reform agenda; management bottleneck; management priority; efficiency frontier; management reform; Public investment spending; Budget planning and preparation; Government cash forecasting
Legal-disclaimer:
Fiscal Affairs Department (FAD) How to Notes offer practical advice from IMF staff members to policymakers on important fiscal issues. The views expressed in FAD How to Notes are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This How to Note discusses how low-income developing countries (LIDCs) can strengthen the effectiveness and efficiency of their public investment. The note draws on Public Investment Management Assessments and focuses on eight institutions that are likely to be key reform priorities in many LIDCs: project appraisal, multi-year budgeting, maintenance, project selection, procurement, availability of funding, project management, and monitoring of public assets. For each of these, the note discusses basic practices, which should be realistic initial reform objectives for low-capacity countries, as well as medium practices that may be relevant objectives for medium-term reforms. The note also discusses how to overcome reform implementation challenges and consolidate the reforms and provides examples of action plans to implement the different reforms.
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Cover IMF How To Notes
IMF How To Notes
ISSN:
2522-7912
Publisher:
International Monetary Fund