IMF How To Notes

How to Improve Public Investment Management in Low-Income Countries

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

January 15, 2025

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Khaled Eltokhy, Nicoletta Feruglio, Kezhou Miao, Arturo Navarro, and Eivind Tandberg. "How to Improve Public Investment Management in Low-Income Countries", IMF How To Notes 2025, 001 (2025), accessed January 21, 2025, https://doi.org/10.5089/9798400297175.061

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Summary

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.

Subject: Budget planning and preparation, Expenditure, Government cash forecasting, Public financial management (PFM), Public Investment Management Assessment (PIMA), Public investment spending

Keywords: Budget planning and preparation, Efficiency frontier, Government cash forecasting, Low-income developing countries, Management bottleneck, Management priority, Management reform, Public financial management (PFM), Public investment efficiency, Public investment management, Public investment management assessment (PIMA), Public investment spending, Reform agenda

Publication Details

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