Maldives: First Review Under the Stand-By Arrangement and the 24-Month Arrangement Under the Exogenous Shocks Facility and Requests for Waivers of Nonobservance of Performance Criteria and Modification of Performance Criterion: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Maldives.
Electronic Access:
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Summary:
The first review of Maldives’ economic performance under the Stand-By Arrangement (SBA) and the Arrangement under the Exogenous Shocks Facility is discussed. The fiscal deficit in 2009 was estimated at 26¼ percent of GDP, 2½ percentage points lower than previously projected. The growth of monetary aggregates slowed down in line with projections. A key risk concerns the ability of the government to maintain the public sector wage cuts. A negative outcome on this would have a large fiscal impact.
Series:
Country Report No. 2010/167
Subject:
Banking External debt Foreign exchange Government debt management Labor Monetary base Money Public financial management (PFM) Public sector wages
English
Publication Date:
June 11, 2010
ISBN/ISSN:
9781455207350/1934-7685
Stock No:
1MDVEA2010004
Pages:
40
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