: Climate change involves risks that will have potential impacts on public infrastructure and the budget. It is important that natural disaster management strategies and fiscal risk analyses incorporate such risks, and that risk mitigation strategies also take climate considerations into account.
B. Overview of the Climate PIMA
15. The C-PIMA follows the same general structure and logic of the PIMA to assess how a country’s PIMsystem incorporates climate change policies . The module is designed using the structure of institutions (or practices) involved in the
This Technical Assistance report on the Uganda focuses on strengthening the performance of public investment management – next phase. Significant progress has been achieved since 2015 in strengthening public investment management, with the reforms showing first results. New procedures need to be designed to refresh project information and assess the status of ongoing projects. With better information, a robust prioritization process of ongoing and new projects within the medium-term envelope should be implemented. Discussions with Ministries, Departments and Agencies, and the mission’s analysis of the upgraded project data identified inconsistencies between projects’ planned use of resources, approved project budgets and the medium-term resource envelope. Reliable and updated information on project forward estimates and commitments like signed contracts and certificates of work is fundamental for ensuring sufficient and timely funding of projects. Recent strengthening of Public Investment Management processes has been accomplished with limited changes to the legal framework.
Ms. Maria A Albino, Ms. Svetlana Cerovic, Mr. Francesco Grigoli, Mr. Juan C Flores, Mr. Javier Kapsoli, Mr. Haonan Qu, Mr. Yahia Said, Mr. Bahrom Shukurov, Mr. Martin Sommer, and Mr. SeokHyun Yoon
applies them especially (but not exclusively) to MCDOEs . The methodologies include efficiency frontier analysis, assessment of unit costs of large investment projects in selected sectors, and analysis of the quality of public investment management (PIM) systems. The paper also uses econometric analysis to explore the drivers of public investment efficiency, and presents two brief case studies of successful PIM frameworks in resource-rich countries. Most of the analyses use a global sample and other oil exporters as benchmarks when making cross-country comparisons
the Development Committee and its Guidelines
C. Harmonizing Traditional Projects and PPPs
D. Key Considerations for the Planned PIM Policy
E. Summary of Recommendations
1.1. The Project Universe and Database
6.1. Legal Framework Structure for the Jamaican PIMSystem
6.2. Legal Framework Structure for PIMSystems in some Countries
6.3. Suggested Updates to the DC Guidelines
2.1. Types of Projects Present in the PIP
2.2. Improving the Estimates of the Size of the PIP
2.3. Impact of the Clean-up Exercise on the MTF 2019
operation of the PIMsystem, and provide guidance on updates to the legal framework.
Updates to the framework should also reflect experiences of MoFPED and MDAs . The authority of the DC should be strengthened to request a project re-appraisal when projects execution appears to be off track, or when procurement results exceed cost estimates. Also, processes for TPIs and PPPs should be harmonized up to the pre-feasibility stage as requested by all stakeholders, which would allow to the development of a real pipeline of investment projects.
International Monetary Fund. Western Hemisphere Dept.
and regulatory impediments, lingering weaknesses in the public investment management (PIM) system, and the unfinished decentralization process, leaving a still-large infrastructure gap.
Peru: Selected Indicators
Source: Central Reserve Bank of Peru.
2. Looking ahead, a slow global recovery and low commodity prices have prompted policymakers around the world to re-think the role of fiscal policy in supporting growth . The fiscal expansion enacted by the Peruvian authorities to the 2014 downturn brought to the fore the discussion on the
private investment ( Ross and Peschiera, 2015 ). Deep structural reforms have aimed at strengthening fiscal rules, public treasury, and financial and investment management systems ( Pessoa and others, 2015 ). Private sector investment has been crowded-in through the Public-Private Partnership (PPP) framework. However, infrastructure projects have been often derailed by bureaucratic and regulatory impediments, lingering weaknesses in the public investment management (PIM) system, and the unfinished decentralization process, leaving a still-large infrastructure gap