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IMF’s recent engagements on infrastructure governance

Public Investment Management Assessment (PIMA) December 2015
Follow up on PIMA recommendations February 2016
Follow up on PIMA and Medium-Term Expenditure Framework (MTEF) April 2017
Follow up on PIMA and MTEF October 2017
Follow-up on PIMA March 2018
PIMA Follow-up April 2018
PIMA Update May 2023
Climate PIMA (C-PIMA) May 2023

 

 

Related Documents

PIMA Technical Assistance Report

PIMA Country Summary Assessment

PIMA Update and C-PIMA Technical Assistance Report

PIMA Update and C-PIMA Country Summary Assessment

 

 

Summary of PIMA Update report

(Published in December 2023)

 

Infrastructure has played an important role in the emergence of Kosovo, its institutions and its economy. The post-war period brought a need for new and rebuilt infrastructure and required the rapid building of public institutions that could support that public investment. Following independence in 2009, infrastructure investment levels have not been sufficient to maintain estimated levels of capital stock relative to the size of the economy, which continue to be low by regional standards. 

 

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Summary of C-PIMA report

(Published in December 2023)

 

Climate change is already affecting Kosovo’s economy and its impacts are likely to intensify in the future. Temperatures in the Western Balkans region have risen in the last fifty years, and throughout the 21st century, warming is projected to be higher than the world average. The observed changes in precipitation over the past few decades are less clear, but almost all climate models agree the countries within the region will experience a significant decrease in precipitation, accompanied by an increase in drought conditions. Annual flow reductions in the regions’ rivers of up to 15 percent are projected for 2°C warming above preindustrial levels, and by up to 45 percent in a 4°C world. Overall, climatic extremes are projected to become more common, including a significant increase in the number of extreme heat events. Heavier precipitation events are expected in the winter months, whilst summers are projected to become even drier. Mountain-specific climate hazards include reduced snow cover; increasing occurrence of winter and spring flooding from intense precipitation and accelerated snowmelt; increases in the frequency and intensity of wildfires; heavy snow precipitation and cold extremes; the appearance of new disease vectors; and decreasing annual river discharge and low flow periods. These developments increase the risk to economic activity, infrastructure, energy security and human health. Kosovo is highly vulnerable to climate change since two of its most important economic sectors – agriculture and forestry – are climate dependent. If not addressed, climate change and natural disasters could have significant macroeconomic and fiscal implications in Kosovo.

 

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