2018年-IMF国际货币组织全球_Mali_Technical_Assistance_Report_71页_776kb

Public Investment Management Assessment (PIMA) of Mali (August 2017)

Core Content

This report provides a comprehensive assessment of Mali's public investment management system, using the PIMA methodology developed by the IMF's Fiscal Affairs Department (FAD). It evaluates the institutional framework, its effectiveness, and the efficiency of public investment, identifying key areas for improvement.

Main Findings

• Institutional Framework: Mali's public investment management framework is robust compared to other sub-regional and developing countries. It includes a variety of institutions and mechanisms for planning, allocating, and implementing public investment. However, some components are not fully developed or effective.
• Efficiency Gap: Despite the institutional strength, Mali's public investment efficiency is low. Only 57% of capital expenditure translates into fixed capital stock, compared to 73% globally.
• Public Investment Impact: Public investment in Mali has a direct economic impact and serves as a leverage tool to stimulate both private and public investment. It contributes to improving public infrastructure and services, enhancing the business climate, and promoting inclusive growth.
• Financial Trends: Public investment in Mali has been volatile and declining over the past 15 years. The share of public investment in GDP has steadily decreased, and the fixed capital stock per capita has also declined, placing Mali among the least equipped countries in the sub-region.
• Debt Management: Public debt has significantly decreased since 2000, from 91% of GDP to 17% in 2006, and has remained below the WAEMU ceiling of 70% of GDP. However, the ratio of public debt to fixed capital has increased, raising concerns about sustainability.

Key Issues Identified

Recommendations and Action Plan

The report proposes a three-pronged action plan to improve the efficiency and sustainability of public investment:

1. Optimize Existing Resources: Enhance the use of current budget and financial resources to improve the effectiveness of public investment.
2. Mobilize Resources: Increase the availability of resources for investment through better management of commitment plans and external financing.
3. Improve Infrastructure Sustainability: Strengthen the management of fixed capital stock and maintenance costs to ensure long-term sustainability.

A cross-cutting approach is also recommended to establish a culture of integrity and results-based management by improving professional standards and information systems.

Key Institutions and Frameworks

• FAD (IMF): Led the assessment mission and provided the PIMA methodology.
• World Bank: Participated in the mission and provided support.
• MEF (Ministry of Economy and Finance): Central authority for financial and investment policy.
• ANICT (National Investment Agency for Local Governments): Supports local governments in investment planning.
• ARMDS (Regulatory Authority for Public Procurement): Oversees public procurement processes.
• DGABE (Directorate General of Government Asset Management): Manages government assets.
• DGB (Directorate General of Budget): Oversees the budget process.
• CREDD (Framework for Economic Recovery and Sustainable Development): Aims to promote inclusive growth and align with SDGs.

Conclusion

Mali has a relatively strong institutional framework for public investment management, but its efficiency and effectiveness are limited by administrative inefficiencies, lack of transparency, and insufficient integration of financial and technical tools. The report highlights the need for systemic reforms to improve the quality, efficiency, and sustainability of public investment, especially in the context of economic growth and development goals.