利比里亚：公共投资管理评估（PIMA）更新和气候PIMA

LIBERIA Public Investment Management Assessment August2025 Prepared ByMichelle Stone, Graham Prentice, Sotima Jocelyn Koussere, Stephanie Allan, Tatsuya Iwasaki,June Nyakahuma and Graham Smith Fiscal Affairs Department ©2026International Monetary Fund HLS/26/007 High-LevelSummary Technical Assistance ReportFiscal Affairs Department Liberia:Public Investment Management Assessment(PIMA)Updateand Climate PIMA Prepared by Prepared By Michelle Stone, Graham Prentice, Sotima Jocelyn Koussere, Stephanie Allan,Tatsuya Iwasaki, June Nyakahuma and Graham Smith TheHigh-LevelSummary Technical Assistance Reportseries provides high-level summaries of the assistance provided to IMF capacity development recipients, describing the high-level objectives,findings, and recommendations. ABSTRACT: Liberia is at a pivotal stage in its post-conflict recovery, where infrastructure investment iscrucial for economic growth and stability. The IMF's Fiscal Affairs Department conducted a PublicInvestment Management Assessment (PIMA) Update and Climate PIMA to evaluate Liberia's publicinvestment management institutions and their climate resilience. The assessment found modest JEL Classification Numbers H54, H83, O18. Keywords: Public investment management, infrastructure governance, green public financialmanagement. The contents of this document constitute a high-level summary of technical advice provided by the staff ofthe International Monetary Fund (IMF) to the authorities of a member country or international agency (the"CD recipient") in response to their request for capacity development. Unless the CD recipient specifically International Monetary Fund, IMF PublicationsP.O. Box 92780, Washington, DC 20090, U.S.A.T. +(1) 202.623.7430 • F. +(1) 202.623.7201publications@IMF.orgIMF.org/pubs Background The technical assistance wasinitiatedat the request ofLiberia’sMinistry of Financeand DevelopmentPlanningtosupport the country's infrastructure investmentefficiencyduring its post-conflict recovery. Theassessmentaimed to evaluate the efficiency and effectiveness ofLiberia’spublic investment Theassessmentinvolved a detailed review ofLiberia’spublic investment management institutions,covering theplanning, allocation, and implementation phasesof the public investment lifecycle. It alsoexamined the integration of climate considerations into public investmentmanagement processes. The This assessment is crucial as Liberia seeks to rebuild its infrastructure andfosterbotheconomic growthand long-term stability.The ARREST Agenda for Inclusive Development reflectsgovernment'scommitment to ambitious development goals, including sustainability and climate resilience.The Summary of Findings The measured strength of public investment management in Liberia has improved modestly since2016,helped by a strengthened legal framework and the implementation of recommendations from the earlierassessment.Amendments to the Public Financial Management Act 2009 and the newsupporting Liberia performs broadly in line withthe averages for Sub-Saharan Africa.The scores were highest in theplanning phase of the public investment cycle.However, significant weaknesses exist in project appraisaland project selection, and in the effectiveness of the implementation phase where infrastructure projectsare procured, built,and managed through their life.The fiscal space for new projectsis not known Liberia is one of the most exposed and least prepared countries for climate change.Liberia’s publicinvestment management institutions are relatively strongin planning for climate change and riskmanagement,where donors have provided technical assistance and financing,with Liberia having development,and the2020 National Adaptation Plan foreshadowedaClimate Public Expenditure and Summary of Recommendations Based on the findings of the assessment, the report provides a targeted action plan to strengthen public The report recommends enhancingthescrutinyof the value for money andreadiness ofmajorcapitalprojects, regardless of funding source,andensuring they are well-developed with risk management plansin placeprior to budget inclusion. Finalizing the planned public investment management policy andsupporting guidelines is an opportunity to increase capacity,strengthen procedures, and embed theimprovements in recent legislative amendments. Thewidespreadadoption of the e-GP system shouldalsobe expedited to boost competitivenessin procurement.Strengthening and streamlining procedures