Cover IMF Staff Country Reports
Buy Book in Print
Maldives: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives
Author:
International Monetary Fund. Asia and Pacific Dept
Search for other papers by International Monetary Fund. Asia and Pacific Dept in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 135
Language:
English
Publication Date:
31 May 2016
DOI:
https://doi.org/10.5089/9781484356661.002
ISBN:
9781484356661
ISSN:
1934-7685
Pages:
82
Keywords:
ISCR; CR; GDP; deficit; exchange rate; current account; tourism activity; tourism arrival; Maldives economy; staff's projection; monetary policy stance; Tourism; Climate change; Fiscal stance; Global; South Asia; Asia and Pacific; Europe
Download PDF (4 MB) Download Epub
This paper discusses recent economic developments, outlook, and risks of Maldives’ economy. Maldives living standards have risen to middle-income levels over the past two decades driven by tourism development. The country’s geography creates fiscal challenges, and the economy has faced persistent fiscal deficits over the past decade. The economy is highly exposed to climate change, a fact that further adds to fiscal costs. The real economy outperformed its peers in the past few years, but tourism slowed last year. Public debt is high and on a rising trajectory. A detailed national development strategy would ensure that investment plans are well coordinated and bring about bigger growth dividends.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund