IMF国际货币组织全球-The-Gambia_Technical-Assistance-Report_66页_2mb

Summary of the Public Investment Management Assessment (PIMA) in The Gambia

Core Content

This Technical Assistance Report provides an assessment of public investment management in The Gambia, highlighting institutional weaknesses, inefficiencies, and the impact of donor financing on public investment outcomes. The report is based on a mission conducted by the IMF in 2019, which evaluated the country's public investment management practices across the planning, allocation, and implementation phases.

Main Views

The Gambia has historically relied heavily on donor financing for public investment, with donor funds accounting for around 85–90% of infrastructure spending. Public investment has been constrained by limited domestic resources, high public debt, and weak institutional frameworks. The country's public investment levels have averaged around 6% of GDP since 2008, which is about two percentage points below the sub-Saharan African (SSA) average.

Key findings include:

• Infrastructure Quality: Perceptions of infrastructure quality are somewhat better in The Gambia than in other SSA countries, but access to health, education, and road infrastructure remains below the regional average.
• Efficiency Gaps: The efficiency of public investment in The Gambia is estimated at 37% of the SSA average, indicating significant room for improvement.
• Donor Impact: Donor procedures and practices are generally stronger than those of the government, which has led to higher PIMA scores for donor-funded projects.
• SOE Performance: State-Owned Enterprises (SOEs) account for about 60% of the public capital stock, but their financial performance and governance are weak, as noted in a recent audit.

Key Information

Public Investment Overview

• Funding Sources: Donor funding dominates, with 83% of public investment from 2008 to 2018.
• Domestic Funding: The Gambia Local Fund (GLF) accounts for an average of 16% of public investment.
• Debt Levels: Public debt has increased significantly, reaching near 90% of GDP in 2017. The government plans to restrict external borrowing to loans with at least a 50% grant element to improve debt sustainability.

Public Investment Composition

• Sector Focus: Donor-funded projects are primarily concentrated in transport, agriculture, environment, and energy.
• Project Types: Both recurrent and capital spending are included in donor-supported projects.
• PPPs: Few PPPs have been implemented, and their performance has been inconsistent due to poor design, implementation, and monitoring.

Institutional Weaknesses

• Planning: Limited fiscal rules and no clear project appraisal methodologies.
• Allocation: Incomplete budgeting for multi-year projects and poor maintenance funding classification.
• Implementation: Weak procurement systems, lack of transparency, and insufficient oversight of public assets.
• IT and Capacity Gaps: Fragmented IT systems, limited capacity for project management and asset tracking, and poor data collection and reporting.

Reform Priorities

The report outlines five key reform priorities aimed at improving public investment management:

1. Institutional Strengthening: Operationalize the MIIT and GSRB, and prepare criteria for project selection.
2. Expand Aid Management Platform (AMP): Include all projects, regardless of funding source, and monitor them throughout the project cycle.
3. Improve Financial Reporting: Update the Chart of Accounts and align maintenance spending with the Government Finance Statistics (GFS) framework.
4. Establish Asset Register: Develop a comprehensive register of government assets to support asset depreciation and financial reporting.
5. Enhance IT Integration: Strengthen IT systems within MoFEA and develop a 3-year strategic plan for IT rationalization.

Recommendations and Timeline

Conclusion

The Gambia's public investment management system is in need of significant reforms to improve efficiency, transparency, and sustainability. While donor financing has supported recent investment, the country's reliance on external funding raises concerns about long-term fiscal independence. Strengthening institutional frameworks, improving financial reporting, and enhancing IT systems are essential steps toward achieving more effective and sustainable public investment.