Zimbabwe Public Investment Management Efficiency Review

The Public Investment Management (PIM) efficiency review is intended to support the Government of Zimbabwe, and in particular the Ministry of Finance, in its efforts to strengthen the efficiency of the public investment system, with the goal of improving the creation, operation and maintenance of public sector capital assets that support service delivery and economic growth. The problems of public investment management are not merely financial but systemic. Budget execution deficit remains a major bottleneck. Due to large backlogs across sectors, capital budget allocation has prioritized completion and rehabilitation of on-going and stalled projects and programs. Currently, public investment projects are mainly financed by the national budget. Regulatory frameworks for public-private partnerships are in place, but sluggish recovery from the private sector has not made it a notable source of financing for capital projects. Foreign loans and grants, and humanitarian aid from donors are not channeled through the official budget. This report is intended to provide the basis for a follow-on discussion with government on possible options and approaches to addressing the identified problems, focusing on those which are the most critical to Zimbabwe's economic recovery and long term development. It is complementary to the action plan, also developed by the team for consideration by the Government of Zimbabwe, which suggests a list of reform actions over the immediate to medium-term to strengthen the regulatory framework and build capacity across central and implementing agencies. The objective of the policy note is to support the Government of Zimbabwe to strengthen the efficiency of PIM system, with an ultimate goal of contributing to improved governance, service delivery, and economic growth. The study will inform a reform and capacity strengthening action plan with the Government as well as subsequent Bank's proposed technical assistance program to strengthen the PIM.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2012-06-26
Subjects:	ABSORPTIVE CAPACITY, ACCOUNTANT, ACCOUNTING, ALLOCATION OF FUNDS, AUDIT OFFICE, AUDITORS, AUDITS, BALANCE SHEET, BANKING INSTITUTIONS, BANKS, BENEFICIARIES, BUDGET, BUDGET MANAGEMENT, BUDGETING, BUDGETS, BUSINESS CONFIDENCE, BUSINESS NETWORKS, CAPACITY BUILDING, CAPACITY CONSTRAINTS, CAPITAL ALLOCATION, CAPITAL ALLOCATIONS, CAPITAL ASSETS, CAPITAL BUDGETING, CAPITAL BUDGETS, CAPITAL EXPENDITURES, CAPITAL FORMATION, CAPITAL INVESTMENT, CAPITAL INVESTMENTS, CAPITAL MARKET, CAPITAL PROJECTS, CAPITAL SHORTAGE, CASH FLOW, CASH FLOW ANALYSIS, CASH MANAGEMENT, CENTRAL REGISTRY, CHECK, COLLECTION SYSTEM, COLLECTIONS, CONCESSION, CONFLICT OF INTEREST, CONTRACT, CONTRACTS, CONVERSION, COOPERATION, CORRUPTION, COST ESTIMATES, COST OF LIVING, CREDIBILITY, CREDIT CRUNCH, CREDIT-WORTHINESS, CRITERIA, CURRENCY, CURRENCY CRISIS, DEBT, DECENTRALIZATION, DEFICIT, DEFICITS, DEPENDENT, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DISBURSEMENT, DISBURSEMENT OF FUNDS, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC POLICY, ENABLING ENVIRONMENT, ENDOWMENT, ENTERPRISE, EQUIPMENT, EQUIPMENTS, ESTATE, ESTATES, EXPENDITURE, EXPENDITURES, FARMERS, FIDUCIARY RESPONSIBILITY, FINANCE, FINANCIAL AFFAIRS, FINANCIAL INFORMATION, FINANCIAL MANAGEMENT, FINANCIAL MANAGEMENT SYSTEM, FINANCIAL RESOURCES, FINANCIAL RISK, FINANCIAL SUPPORT, FINANCIERS, FINANCING CONSTRAINT, FISCAL AUTHORITIES, FISCAL BURDEN, FISCAL CONSTRAINT, FISCAL CONSTRAINTS, FISCAL POLICY, FISCAL YEAR, FLOW OF FUNDS, FOREIGN LOANS, FORMAL ECONOMY, FUTURE, GOOD, GOODS, GOVERNANCE, GOVERNMENT ASSET, GOVERNMENT BUDGET, GOVERNMENT EXPENDITURE, GOVERNMENT FINANCING, GOVERNMENT FUNDING, GOVERNMENT GRANTS, GOVERNMENT REVENUES, GOVERNMENT SPENDING, GRACE PERIOD, GUARANTOR, HOUSEHOLDS, HOUSING, HUMAN DEVELOPMENT, HUMAN RESOURCES, INCOME LEVEL, INDEBTED, INDUSTRY, INFLATION, INFLATIONARY PRESSURE, INFRASTRUCTURE, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE INVESTMENTS, INSTITUTIONAL CAPACITY, INSTITUTIONAL FRAMEWORK, INTEREST, INTERESTED PARTIES, INTERNAL AUDIT, INTERNATIONAL FINANCE, INVENTORY, INVESTING, INVESTMENT ALLOCATION, INVESTMENT DECISIONS, INVESTMENT PROJECTS, INVESTMENT PROPOSALS, INVESTOR, INVESTOR CONFIDENCE, INVESTORS, ISSUANCE, LABOR, LAND, LAND REFORM, LATE PAYMENTS, LAWS, LEGAL FRAMEWORK, LEGISLATIVE FRAMEWORK, LEVERAGE, LIABILITIES, LIABILITY, LINES OF CREDIT, LIQUIDITY, LIQUIDITY CRISIS, LIQUIDITY PROBLEM, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LONG-TERM CAPITAL, MACRO-STABILITY, MACROECONOMIC POLICIES, MANDATE, MANDATES, MDAS, MIDDLEMEN, MORTALITY RATE, MUTUAL FUNDS, NATIONAL BUDGET, NATURAL RESOURCES, OPTIONS, PAYMENTS, PENSION, PENSION FUNDS, PEOPLE, PLEDGE, POLICY ENVIRONMENT, POLITICAL ECONOMY, POLITICAL RISK, POOL OF FUND, POOL OF FUNDS, POOR CREDIT, PORTFOLIO, POST-CRISIS PERIOD, POTENTIAL INVESTOR, POVERTY, PRICING, PRINCIPAL, PRIVATE CAPITAL, PRIVATE INVESTMENT, PRIVATE INVESTORS, PROCUREMENT, PROCUREMENT PROCEDURES, PRODUCTIVITY, PUBLIC ENTERPRISES, PUBLIC FINANCE, PUBLIC FUNDS, PUBLIC INVESTMENT, PUBLIC SERVICES, PUBLIC SPENDING, PUBLIC-PRIVATE PARTNERSHIP, PUBLIC-PRIVATE PARTNERSHIPS, RECESSION, RECURRENT EXPENDITURE, RECURRENT EXPENDITURES, REFORM MEASURES, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REMEDY, RENEGOTIATION, REPAYMENT, REPAYMENT PERIOD, RESERVE, RESERVE BANK, RESTORATION, RESTRUCTURING, REVENUE, REVENUES, SECURITY, SHADOW ECONOMY, SHARE, SINKING FUND, SOCIAL SECURITY, SOCIAL SERVICES, SOCIAL WELFARE, STOCK, STRATEGIES, STRUCTURAL PROBLEMS, SUBSIDIES, TAX, TAX ADMINISTRATION, TAX COLLECTION, TECHNICAL ASSISTANCE, TECHNICAL SUPPORT, TRANSACTIONS, TRANSFERS, TRANSPARENCY, TRANSPORT, TREASURY, TRUST FUND, TRUST FUNDS, TURNOVER, UNEMPLOYMENT, URBAN DEVELOPMENT, USER FEES, VALUATION, VALUE, VILLAGE, WAGES, WELFARE, WITHDRAWAL, WORKING CAPITAL,
Online Access:	http://documents.worldbank.org/curated/en/560421468179933495/Zimbabwe-Public-investment-management-efficiency-review http://hdl.handle.net/10986/26789
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