Description: Lesotho Public Investment Management Efficiency Review

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Lesotho Public Investment Management Efficiency Review

Lesotho is a small landlocked country with a homogenous population of 2.1 million. Lesotho's gross domestic product (GDP) per capita was 1,023 dollars and gross national income (GNI) per capita was 1,080 dollars in 2010. The country also faces...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING ADMINISTRATIVE REFORMS ALLOCATION OF FUNDS ANNUAL REPORT AUDITOR GENERAL BENEFICIARIES BUDGET ALLOCATION BUDGET ALLOCATIONS BUDGET CREDIBILITY BUDGET DATA BUDGET FRAMEWORK BUDGET INFORMATION BUDGETARY INFORMATION BUDGETING PROCESS BUDGETS CAPACITY BUILDING CAPACITY CONSTRAINTS CAPACITY-BUILDING CAPITAL BUDGET CAPITAL BUDGETING CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL GOVERNMENT CITIZENS CIVIL SERVANTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMPETITION CORRUPTION COST EFFECTIVENESS COST-BENEFIT ANALYSIS CREDIT FACILITY DEBT DEBT MANAGEMENT DECENTRALIZATION DECENTRALIZATION OF SERVICE DELIVERY DECENTRALIZATION PROCESS DECISION-MAKING DECISION-MAKING PROCESS DEFICIT DEMOCRACY DEMOCRATIC GOVERNANCE DIAGNOSTIC ASSESSMENT DOMESTIC MARKET ECONOMIC CONDITIONS ECONOMIC GROWTH ECONOMIC POLICY EFFICIENCY OF PUBLIC SPENDING EFFICIENT ALLOCATION EFFICIENT ALLOCATION OF RESOURCES EX-POST EVALUATION EXCHANGE RATE EXECUTION EXTERNAL SHOCKS FINANCIAL ACCOUNTABILITY FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INFORMATION SYSTEM FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL POSITION FINANCIAL RESOURCES FINANCIAL SUPPORT FINANCIAL YEARS FINANCING FISCAL FISCAL ADJUSTMENT FISCAL CONSOLIDATION FISCAL CRISIS FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL STRATEGY FISCAL SUSTAINABILITY FISCAL YEAR FISCAL YEARS FOREIGN GRANTS FOREIGN INVESTMENT FOREIGN LOANS GOVERNMENT BUDGET GOVERNMENT EFFORTS GOVERNMENT OFFICIALS GOVERNMENT POLICY GOVERNMENT REVENUES GOVERNMENT STRUCTURES GROSS DOMESTIC PRODUCT HEALTH CENTERS HEALTH SECTOR HEALTH SERVICES HEALTH WORKERS HUMAN RESOURCE INCENTIVES INFRASTRUCTURE DEVELOPMENT INSTITUTIONAL WEAKNESSES INTERNAL CONTROLS LEGISLATION LEVEL OF PUBLIC SPENDING LOCAL GOVERNMENT MACROECONOMIC MODEL MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MINISTERIAL EXPENDITURE MINISTRY OF FINANCE MISAPPROPRIATION MUNICIPAL COUNCILS NATIONAL ACCOUNTS NATIONAL ASSETS NATIONAL BUDGET NATIONAL DEVELOPMENT NATIONAL ECONOMY NATIONAL GOVERNMENT NATIONAL INCOME NATIONAL PRIORITIES NATURAL RESOURCES NEGATIVE EXTERNALITIES OUTCOMES OVERSIGHT OVERSIGHT BODIES PERFORMANCE BUDGETING PERFORMANCE BUDGETING APPROACH PERFORMANCE EVALUATION POLITICIANS POVERTY REDUCTION POVERTY REDUCTION STRATEGY POVERTY REDUCTION SUPPORT PRIVATE INVESTMENT PRIVATE SECTOR PRIVATE SECTOR INVESTMENT PROCUREMENT PROCESS PROCUREMENT SYSTEMS PROGRAMS PROVISION OF SERVICES PUBLIC ACCOUNTABILITY PUBLIC ACCOUNTS PUBLIC AUTHORITY PUBLIC EDUCATION PUBLIC EMPLOYEES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEM PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR EFFICIENCY PUBLIC SECTOR EMPLOYEES PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR PROCUREMENT PUBLIC SECTOR REFORM PUBLIC SECTOR SPECIALIST PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC WORKS QUALITY MANAGEMENT QUANTITATIVE DATA RECURRENT EXPENDITURES REFORM AGENDA REFORM EFFORTS REFORM PROCESS REFORM PROGRAM REGULATORY FRAMEWORK RESOURCE ALLOCATION RESOURCE CONSTRAINTS RESOURCE MANAGEMENT REVENUES SALES TAX SECTOR MINISTRIES SECTORAL ALLOCATION SERVICE DELIVERY SERVICE PROVISION SOCIAL WELFARE STRATEGIC PRIORITIES STRUCTURAL REFORMS TAX ADMINISTRATION TAXES TRANSPARENCY UNCERTAINTY
Online Access:	http://documents.worldbank.org/curated/en/325821468056378428/Lesotho-Public-investment-management-efficiency-review http://hdl.handle.net/10986/26837

Description
Summary:	Lesotho is a small landlocked country with a homogenous population of 2.1 million. Lesotho's gross domestic product (GDP) per capita was 1,023 dollars and gross national income (GNI) per capita was 1,080 dollars in 2010. The country also faces numerous challenges to its social and human development. In this context, more attention on the role and quality of public investment is warranted. To improve public accountability and transparency, the Government of Lesotho (GoL) introduced the automated integrated financial management information system (IFMIS) in April 2009. The study directly responds to an explicit request of technical assistance from the ministry of finance and development planning (MoFDP) and aims at supporting the GoL in its major reform efforts to enhance the efficiency of public investment management (PIM) and increase the "value for money" in capital spending. The overarching objective of this study is to support the GoL in its efforts to prioritize public resource allocation and enhance efficiency in capital spending, with the ultimate goal of contributing to improved governance, service delivery, and economic growth. The work is aligned with the World Bank country assistance strategy (CAS) 2010 to 2014, in particular its first pillar on fiscal adjustment and public sector efficiency. This report emphasizes the complementary aspects of the institutions, incentives, capacity, and process-related constraints to the functioning of PIM. The focus of this report will also complement ongoing public financial management (PFM) support by other development partners. The report is presented in four chapters, which are organized as follows: chapter one offers a macro-level country analysis; chapter two presents recent trends in public investments; chapter three focuses on institution mapping and the diagnostic assessment of the PIM system; and chapter four concludes with policy implications.