IMF Working Papers

Public Investment Management Bottlenecks in Low-income Countries

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

November 1, 2024

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

Khaled Eltokhy, Nicoletta Feruglio, Kezhou Miao, Arturo Navarro, and Eivind Tandberg. "Public Investment Management Bottlenecks in Low-income Countries", IMF Working Papers 2024, 232 (2024), accessed November 1, 2024, https://doi.org/10.5089/9798400289231.001

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

This paper uses principal component analysis (PCA) to identify bottlenecks to effective public investment management in LIDCs. The paper describes the current state of affairs regarding public investment and public investment management in LIDCs, drawing on the results of IMF Public Investment Management Assessments (PIMAs). PCA is used to analyze which public investment institutions are likely to be most important for investment efficiency estimates across the countries covered by PIMAs so far. Drawing on alternative input data, we identify five PIMA institutions that are systematically highly correlated to estimates of public investment efficiency in LIDCs and are likely to be high priorities in many PIM reform processes: Project management, Project appraisal, Procurement, Availability of funding, and Project selection. This does not mean that these five are the only important institutions – this will depend on country circumstances. The practical steps to strengthen PIM in LIDCs are elaborated in a separate How-to-Note.

Subject: Expenditure, Post-clearance customs audit, Public financial management (PFM), Public Investment Management Assessment (PIMA), Public investment spending, Revenue administration

Keywords: Low Income countries, Post-clearance customs audit, Public Financial Management, Public Investment Efficiency, Public Investment Management, Public Investment Management Assessment, Public Investment Management Assessment (PIMA), Public investment spending

Publication Details

You May Also Be Interested In...

Kenya: Seventh and Eighth Reviews Under the Extended Fund Facility and Extended Credit Facility Arrangements, Requests for Reduction of Access, Augmentation and Rephasing of Access Under the Arrangements, Modifications of Performance Criteria, Waiver of Nonobservance of Performance Criteria, and Review Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Kenya

November 1, 2024

Colombia: Technical Assistance Report-Scoping Mission to Develop Macroeconomic Forecasting Capacity at the Autonomous Committee for the Fiscal Rule (CARF)

November 1, 2024

Islamic Republic of Mauritania: Technical Assistance Report-Technical Assistance Project on Public Debt Projections and Analysis: Scoping Mission

November 1, 2024

Republic of Armenia: Technical Assistance Report-Corporate Income Tax Gap Prediction 2023 Based on Corporate Income Tax Returns

November 1, 2024