| Public Investment Management Assessment (PIMA) | November 2018 |
Summary of PIMA report (Published in November 2019) The Federation of Mexico, with 31 States and Mexico City, has a population of 129 million people with large and diverse infrastructure needs. Successive Mexican governments have recognized the importance of public investment for promoting economic growth and have given priority to infrastructure needs in the National Development Plan and the National Infrastructure Program. Some progress has been made; however, large infrastructure needs remain.
⚠ Some users may experience reduced functionality using Internet Explorer. For the optimal experience, use Chrome or another alternative browser.
Planning (Institutions 1-5) Allocation (Institutions 6-10) Implementation (Institutions 11-15)
Open 
Institutional Design: ---
Effectiveness: ---
1.a. Is there a target or limit for government to ensure debt sustainability?
1.b. Is fiscal policy guided by one or more permanent fiscal rules?
1.c. Is there a medium-term fiscal framework (MTFF) to align budget preparation with fiscal policy?
Institutional Design: ---
Effectiveness: ---
2.a. Does the government prepare national and sectoral strategies for public investment?
2.b. Are the government’s national and sectoral strategies or plans for public investment costed?
2.c. Do sector strategies include measurable targets for the outputs and outcomes of investment projects?
Institutional Design: ---
Effectiveness: ---
3.a. Is capital spending by SNGs, coordinated with the central government?
3.b. Does the central government have a transparent, rule-based system for making capital transfers to SNGs, and for providing timely information on such transfers?
3.c. Are contingent liabilities arising from capital projects of SNGs, PCs, and PPPs reported to the central government?
Institutional Design: ---
Effectiveness: ---
4.a. Are major capital projects subject to rigorous technical, economic, and financial analysis?
4.b. Is there a standard methodology and central support for the appraisal of projects?
4.c. Are risks taken into account in conducting project appraisals?
Institutional Design: ---
Effectiveness: ---
5.a. Does the regulatory framework support competition in contestable markets for economic infrastructure (e.g., power, water, telecoms, and transport)?
5.b. Has the government published a strategy/policy for PPPs, and a legal/regulatory framework which guides the preparation, selection, and management of PPP projects?
5.c. Does the government oversee the investment plans of public corporations (PCs) and monitor their financial performance?
Institutional Design: ---
Effectiveness: ---
6.a. Is capital spending by ministry or sector forecasted over a multiyear horizon?
6.b. Are there multiyear ceilings on capital expenditure by ministry, sector, or program?
6.c. Are projections of the total construction cost of major capital projects published?
Institutional Design: ---
Effectiveness: ---
7.a. Is capital spending mostly undertaken through the budget?
7.b. Are all capital projects, regardless of financing source, shown in the budget documentation?
7.c. Are capital and recurrent budgets prepared and presented together in the budget?
Institutional Design: ---
Effectiveness: ---
8.a. Are total project outlays appropriated by the legislature at the time of a project’s commencement?
8.b. Are in-year transfers of appropriations (virement) from capital to current spending prevented?
8.c. Is the completion of ongoing projects given priority over starting new projects?
Institutional Design: ---
Effectiveness: ---
9.a. Is there a standard methodology for estimating routine maintenance needs and budget funding?
9.b. Is there a standard methodology for determining major improvements (e.g. renovations, reconstructions, enlargements) to existing assets, and are they included in national and sectoral investment plans?
9.c. Can expenditures relating to routine maintenance and major improvements be identified in the budget?
Institutional Design: ---
Effectiveness: ---
10.a. Does the government undertake a central review of major project appraisals before decisions are taken to include projects in the budget?
10.b. Does the government publish and adhere to standard criteria, and stipulate a required process for project selection?
10.c. Does the government maintain a pipeline of appraised investment projects for inclusion in the annual budget?
Institutional Design: ---
Effectiveness: ---
11.a. Is the procurement process for major capital projects open and transparent?
11.b. Is there a system in place to ensure that procurement is monitored adequately?
11.c. Are procurement complaints review process conducted in a fair and timely manner?
Institutional Design: ---
Effectiveness: ---
12.a. Are ministries/agencies able to plan and commit expenditure on capital projects in advance on the basis of reliable cash-flow forecasts?
12.b. Is cash for project outlays released in a timely manner?
12.c. Is external (donor) funding of capital projects fully integrated into the main government bank account structure?
Institutional Design: ---
Effectiveness: ---
13.a. Are major capital projects subject to monitoring during project implementation?
13.b. Can funds be re-allocated between investment projects during implementation?
13.c. Does the government adjust project implementation policies and procedures by systematically conducting ex post reviews of projects that have completed their construction phase?
Institutional Design: ---
Effectiveness: ---
14.a. Do ministries/agencies have effective project management arrangements in place?
14.b. Has the government issued rules, procedures and guidelines for project adjustments that are applied systematically across all major projects?
14.c. Are ex post audits of capital projects routinely undertaken?
Institutional Design: ---
Effectiveness: ---
15.a. Are asset registers updated by surveys of the stocks, values, and conditions of public assets regularly?
15.b. Are nonfinancial asset values recorded in the government financial accounts?
15.c. Is the depreciation of fixed assets captured in the government’s operating statements?
Planning (Institutions 1-5) Allocation (Institutions 6-10) Implementation (Institutions 11-15)
Sources: IMF Investment and Capital Stock Dataset, 2021; and IMF staff calculations based on PIMA reports. Note: The data displayed above might differ from the data in the PIMA report as the latter might incorporate additional information obtained during the PIMA mission.
Open
Institutional Design: ---
Effectiveness: ---
1.a. Is there a target or limit for government to ensure debt sustainability?
1.b. Is fiscal policy guided by one or more permanent fiscal rules?
1.c. Is there a medium-term fiscal framework (MTFF) to align budget preparation with fiscal policy?
Institutional Design: ---
Effectiveness: ---
2.a. Does the government prepare national and sectoral strategies for public investment?
2.b. Are the government’s national and sectoral strategies or plans for public investment costed?
2.c. Do sector strategies include measurable targets for the outputs and outcomes of investment projects?
Institutional Design: ---
Effectiveness: ---
3.a. Is capital spending by SNGs, coordinated with the central government?
3.b. Does the central government have a transparent, rule-based system for making capital transfers to SNGs, and for providing timely information on such transfers?
3.c. Are contingent liabilities arising from capital projects of SNGs, PCs, and PPPs reported to the central government?
Institutional Design: ---
Effectiveness: ---
4.a. Are major capital projects subject to rigorous technical, economic, and financial analysis?
4.b. Is there a standard methodology and central support for the appraisal of projects?
4.c. Are risks taken into account in conducting project appraisals?
Institutional Design: ---
Effectiveness: ---
5.a. Does the regulatory framework support competition in contestable markets for economic infrastructure (e.g., power, water, telecoms, and transport)?
5.b. Has the government published a strategy/policy for PPPs, and a legal/regulatory framework which guides the preparation, selection, and management of PPP projects?
5.c. Does the government oversee the investment plans of public corporations (PCs) and monitor their financial performance?
Institutional Design: ---
Effectiveness: ---
6.a. Is capital spending by ministry or sector forecasted over a multiyear horizon?
6.b. Are there multiyear ceilings on capital expenditure by ministry, sector, or program?
6.c. Are projections of the total construction cost of major capital projects published?
Institutional Design: ---
Effectiveness: ---
7.a. Is capital spending mostly undertaken through the budget?
7.b. Are all capital projects, regardless of financing source, shown in the budget documentation?
7.c. Are capital and recurrent budgets prepared and presented together in the budget?
Institutional Design: ---
Effectiveness: ---
8.a. Are total project outlays appropriated by the legislature at the time of a project’s commencement?
8.b. Are in-year transfers of appropriations (virement) from capital to current spending prevented?
8.c. Is the completion of ongoing projects given priority over starting new projects?
Institutional Design: ---
Effectiveness: ---
9.a. Is there a standard methodology for estimating routine maintenance needs and budget funding?
9.b. Is there a standard methodology for determining major improvements (e.g. renovations, reconstructions, enlargements) to existing assets, and are they included in national and sectoral investment plans?
9.c. Can expenditures relating to routine maintenance and major improvements be identified in the budget?
Institutional Design: ---
Effectiveness: ---
10.a. Does the government undertake a central review of major project appraisals before decisions are taken to include projects in the budget?
10.b. Does the government publish and adhere to standard criteria, and stipulate a required process for project selection?
10.c. Does the government maintain a pipeline of appraised investment projects for inclusion in the annual budget?
Institutional Design: ---
Effectiveness: ---
11.a. Is the procurement process for major capital projects open and transparent?
11.b. Is there a system in place to ensure that procurement is monitored adequately?
11.c. Are procurement complaints review process conducted in a fair and timely manner?
Institutional Design: ---
Effectiveness: ---
12.a. Are ministries/agencies able to plan and commit expenditure on capital projects in advance on the basis of reliable cash-flow forecasts?
12.b. Is cash for project outlays released in a timely manner?
12.c. Is external (donor) funding of capital projects fully integrated into the main government bank account structure?
Institutional Design: ---
Effectiveness: ---
13.a. Are major capital projects subject to monitoring during project implementation?
13.b. Can funds be re-allocated between investment projects during implementation?
13.c. Does the government adjust project implementation policies and procedures by systematically conducting ex post reviews of projects that have completed their construction phase?
Institutional Design: ---
Effectiveness: ---
14.a. Do ministries/agencies have effective project management arrangements in place?
14.b. Has the government issued rules, procedures and guidelines for project adjustments that are applied systematically across all major projects?
14.c. Are ex post audits of capital projects routinely undertaken?
Institutional Design: ---
Effectiveness: ---
15.a. Are asset registers updated by surveys of the stocks, values, and conditions of public assets regularly?
15.b. Are nonfinancial asset values recorded in the government financial accounts?
15.c. Is the depreciation of fixed assets captured in the government’s operating statements?
Each institution is analyzed along three dimensions that reflect the key features of the given institution, resulting in a total of 45 dimensions. Three possible scores are assigned to each dimension (1: not met, 2: partially met, 3: fully met) and their average within an institution produces a score for that institution. PIMA scores are summarized in a chart that allows comparison with its comparators. In the chart, the further the away from the center, the higher the PIMA scores.
Institutional Design and Effectiveness
Another key feature of the PIMA is that it assesses both institutional design (“what is on paper”) and effectiveness (“what is in practice”) of a given country, because there is often a gap between the design of formal rules and how they are implemented in practice, due to capacity constraints among others.
Scores by Income Level
All countries, most notably emerging markets and low-income developing countries, have significant room to improve their infrastructure governance to increase effectiveness in public investment.
The countries listed below cover only refer to those that have conducted PIMA.
Advanced economies (ADV) and low-income developing countries (LIDC) are classified according to latest World Economic Outlook. Emerging market (EME) include those not classified as advanced economies or low-income developing countries. Fragile states are classified based on IMF Policy Paper, Macroeconomic Developments and Prospects in Low-Income Developing Countries, 2018.
