How to Improve Public Investment Management in Low-Income Countries

Khaled Eltokhy, Nicoletta Feruglio, Kezhou Miao, Arturo Navarro and Eivind Tandberg

No 2025/001, IMF Fiscal Affairs Department from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 31
Date: 2025-01-15
New Economics Papers: this item is included in nep-ppm
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