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.
June 11, 2010
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
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.
Subject: Banking, External debt, Foreign exchange, Government debt management, Labor, Monetary base, Money, Public financial management (PFM), Public sector wages
Keywords: CR, debt, deficit monetization, economy, executive board discussion, Global, Government debt management, ISCR, liquidity absorption effort, MMA credit, Monetary base, monetization, Public sector wages, restraining expenditure, SDR, vulnerability to external shocks
Pages:
40
Volume:
2010
DOI:
Issue:
167
Series:
Country Report No. 2010/167
Stock No:
1MDVEA2010004
ISBN:
9781455207350
ISSN:
1934-7685
