Maldives: Technical Assistance Report-Revising the Fiscal Responsibility Act

January 14, 2022

Summary

The Fiscal Responsibility Act (FRA) came into effect in 2013 to reduce rising public debt and achieve fiscal stability. Maldives has experienced rapid public debt accumulation over the past decade. The FRA establishes objectives for maintaining debt at a sustainable level and reducing the overall fiscal balance. The Act also sets minimum standards for fiscal transparency and accountability and requires the Government to prepare and publish medium-term fiscal and debt strategy reports.

Subject: Budget planning and preparation, Fiscal policy, Fiscal reporting, Fiscal risks, International organization, Monetary policy, Public debt, Public financial management (PFM)

Keywords: Australia and New Zealand, Budget planning and preparation, documentation requirement, draft FRA need, Fiscal reporting, Fiscal risks, FRA draft, government document, government finance statistics manual, Maldivian authorities, South Asia

Pages:
99
Volume:
2022
DOI:
https://doi.org/10.5089/9781616359713.002
Issue:
010
Series:
Country Report No. 2022/010
Stock No:
1MDVEA2022001
ISBN:
9781616359713
ISSN:
1934-7685

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