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Maldives: 2010 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Maldives
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 293
Language:
English
Publication Date:
26 Sep 2011
DOI:
https://doi.org/10.5089/9781463904333.002
ISBN:
9781463904333
ISSN:
1934-7685
Pages:
78
Keywords:
ISCR; CR; consultation informational annex; consultation; expenditure information point; debt; financing; staff appraisal; outturn data; data revision; Fiscal consolidation; Public and publicly-guaranteed external debt; Global; Asia and Pacific; I. fund relation; World Bank-IMF Joint Management Action Plan; Debt sustainability analysis
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Owing to severe fiscal and external imbalances, the Maldives government adopted an IMF program in 2009. Despite some crucial initial actions, fiscal slippages and political polarization have undermined the restoration of sustainability. The key policy challenge is to prevent a fiscal crisis, achieve macroeconomic sustainability, and stimulate growth. The authorities concur with the need to tighten monetary policy. The authorities have welcomed the IMF program as a useful framework to guide and reinforce their efforts to restore external balance and fiscal sustainability.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund