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Asia and Pacific > Maldives

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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 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