Colombia: Technical Assistance Report-Public Investment Management Assessment (PIMA) and Climate-PIMA
Technical Assistance Reports, August 6, 2025
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- Colombia: Technical Assistance Report-Public Investment Management Assessment (PIMA) and Climate-PIMA
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Bibliographic details
- Published: August 6, 2025
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229020053.019
Overview and context
- Report language: Spanish only.
- Publication date on landing page: August 6, 2025.
- Report length: 77 pages.
- Series: Technical Assistance Report No. 2025/075; Issue: 075; ISBN: 9798229020053; DOI: https://doi.org/10.5089/9798229020053.019.
- Over the last two decades, Colombia's public investment spending has averaged 3% of GDP, compared with regional peers in Latin America and the Caribbean that exceed 5%.
Key findings on public investment levels and outcomes
- Average public investment: 3% of GDP over the last two decades.
- Regional comparison: peers in Latin America and the Caribbean exceed 5%.
- Correlation with service access: the 3% average is linked to limited access to essential services, including education, health, and electricity.
- Authorities' objectives: Colombian authorities intend to increase public investment, with a focus on climate-focused infrastructure.
Institutional strengths
- Colombia has a relatively strong institutional framework for public investment.
- Noted strengths include:
- Effective multi-year budgeting.
- Advanced project evaluation methods.
- Strengths in addressing climate change within public investment planning.
Implementation and efficiency gaps
- The PIMA – CPIMA identifies a significant efficiency gap in Colombia's public investment management.
- The assessment suggests that efficiency improvements could nearly double the benefits derived from current capital expenditures.
- Implementation challenges highlighted:
- Complex coordination between government levels.
- Fragmented financing sources.
- Insufficient prioritization of climate-sensitive projects.
- Lack of mandatory methodologies for disaster risk analysis.
- Weak oversight of extrabudgetary entities.
- Incomplete monitoring of project execution.
Policy recommendations and reform priorities
- Enhance coordination between national and subnational entities.
- Refine project classifications for better management and prioritization.
- Improve oversight of extrabudgetary entities to consolidate oversight and financing coherence.
- Ensure comprehensive monitoring of project execution to strengthen delivery of public infrastructure and climate resilience.
- Adopt mandatory methodologies for disaster risk analysis and increase prioritization of climate-sensitive projects within public investment planning.
International Monetary Fund. Fiscal Affairs Dept. "Colombia: Technical Assistance Report-Public Investment Management Assessment (PIMA) and Climate-PIMA", Technical Assistance Reports 2025, 075 (2025), DOI: https://doi.org/10.5089/9798229020053.019.
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