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Asia and Pacific > Maldives

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
  • Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems x
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Cover IMF Staff Country Reports
Maldives: Financial Sector Assessment Program-Technical Note on Bank Stress Testing and Climate Risk Analysis
International Monetary Fund. Monetary and Capital Markets Department
This paper presents a technical note on bank stress testing and climate risks analysis in Maldives. Although the Maldives’ economy has rebounded strongly from the pandemic-induced contraction, macro and financial vulnerabilities remain. The stress test results broadly corroborated the identified vulnerabilities and quantified them. The climate risk analysis considered a micro approach that shocks banks’ immovable asset related loans under three climate scenarios. The system appears well capitalized, although capital ratios are biased upward by large government paper holdings with zero risk weights. The results of the solvency stress test corroborate that banks are less vulnerable to credit risk than they are to the impact of a possible unraveling of the sovereign–bank nexus. Banks’ nonperforming loans (NPL) ratios are projected to increase slightly in the baseline and moderately under stress. The resulting additional loan loss provisions are easily offset by ample pre-provision income.
Keywords:
summary market Risk sensitivity analysis result; market risk sensitivity analysis result; B. liquidity coverage ratio; aggregate capitalization; deposit concentration sensitivity analysis; market Risk sensitivity analysis result; summary solvency Risk result; sensitivity analysis assumption; Stress testing; Nonperforming loans; Loans; Currencies; Commercial banks; Global
Cover IMF Staff Country Reports
Maldives: Technical Assistance Report-Modernizing the Goods and Services Tax
International Monetary Fund. Fiscal Affairs Dept.
This report reviews the Goods and Services Tax (GST) regime in the Maldives and identifies policy and legal reform options to support its modernization, as well as enhancing efficiency, equity, and revenue mobilization. Despite five existing amendments to the Goods and Services Tax Act (GSTA) and 28 amendments to the associated regulations, the core parameters of the GST have barely changed in nearly 12 years. In addition, rapid changes to global business models and the increasing digitalization of the Maldivian economy have made key features of the legislation – such as place of supply rules – increasingly inadequate. The mission identified several key GST policy reforms and proposed legal redrafting recommendations that should be prioritized by the authorities in the upcoming reform window. Table 1 summarizes the potential revenue implications and implementation timeline of the main policy measures proposed.
Keywords:
Act amendment; tourism Goods and Services Tax; VAT revenue; VAT C-efficiency; GST payment; Value-added tax; Digital currencies; Consumption taxes; Tourism; Tax allowances; Global; South Asia
Cover Finance & Development
Finance and Development, September 2021
International Monetary Fund
Finance and Development, September 2021
Keywords:
IEA report; IMF staff research; emissions target; Bitcoin mining; climate threat; Climate change; Climate finance; Greenhouse gas emissions; Virtual currencies; Global; Asia and Pacific; Africa; Pacific Islands; Sub-Saharan Africa; pricing carbon; bitcoin rival Ethereum
Cover IMF Working Papers
Patterns of Shocks and Regional Monetary Cooperation in South Asia
Nephil Matangi Maskay
The member states of the South Asian Association for Regional Cooperation have set as a target the achievement of an economic union by 2020. Reaching this goal will require greater levels of monetary cooperation. How should this be achieved? Data from South Asia suggest that member states have minor trade linkages and face asymmetrical patterns of shocks. This paper concludes that, absent a clear road map for monetary cooperation, the present process must be structured so as to be harmonized with the level of regional economic integration.
Keywords:
WP; exchange rate; India; SAARC member states; SAARC trade; South Asia; shocks; regional monetary cooperation; SAARC member country; SAARC website; SAARC home page; SA region; Exchange rates; Monetary unions; Currencies; Inflation
Cover Summary Proceedings of the Thirty-Second Annual Meeting of the Board of Governors, 1977
Summary Proceedings of the Thirty-Second Annual Meeting of the Board of Governors, 1977
International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Keywords:
AS; Donal lynch; boards of governors of the bank; fund documents no; Joint Ministerial Committee of the boards of governors; reference list; Inflation; Adjustment process; International monetary system; Capital markets; Official development assistance; Global; Africa; Caribbean; Central America; West Africa; gold sale