IMF Praises Improvements in Public Investment in Guatemala

An IMF mission began to assess government practices for economic development in late May.

by Pamela Contreras
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Guatemala City, -AGN-. A mission from the International Monetary Fund -IMF- highlighted the accomplishments in public investment for economic development by different agencies of the Government of Guatemala.

The mission from the international entity implemented the Public Investment Management Assessment -PIMA- in Guatemala.

The delegates from the IMF held virtual meetings with different government agencies in late May and continued the sessions in person during June. The government entities that participated include:

  • Ministry of Public Finance -Minfin-
  • Secretariat of Planning and Programming of the Presidency -Segeplan-
  • Ministry of Environment and Natural Resources -MARN-
  • Ministry of Communications, Infrastructure, and Housing -CIV-
  • Government Accountability Office-CGC-
  • Ministry of Public Health and Social Assistance -MSPAS-
  • National Coordinator for Disaster Reduction -Conred-
  • National Institute of Energy (Inde)
  • National Ports
  • And others

Evaluation

The evaluated areas included planning long-term investments in the public sector, assigning  adequate sectors and projects, and implementing programs to generate productive and long-lasting public assets.

The experts assigned analyze institutional stability. The analysis includes an institution’s organization, policies, rules, and procedures. In addition, they look at effectiveness concerning how the intended purpose in practice or a clear, useful outcome is achieved.

The IMF staff also conducted the Climate-Public Investment Management Assessment -C-PIMA-. This research analyzes the adaptation and mitigation contained in public infrastructure projects.

Goals and Challenges 

The International Monetary Fund mission concluded that the Ministry of Public Finance -Minfin-, the Secretariat of Planning and Programming of the Presidency -Segeplan-, and the Ministry of Environment and Natural Resources -MARN- have made significant progress in their management, specifically in achieving the international standard to improve the results in adapting to climate change in the medium term.

The report also pointed out significant challenges to improve the treasury and the capacity to expand the country’s economic potential, which will depend, to a large extent, on the quality of public financing.

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