{
  "title": "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",
  "publication": "IMF Staff Country Reports, September 26, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/maldives-2010-article-iv-consultation-staff-report-staff-statement-and-supplement-public-25261",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Overview and context",
      "content": "- Owing to severe fiscal and external imbalances, the Maldives government adopted an IMF program in 2009.\n- Despite some crucial initial actions, fiscal slippages and political polarization have undermined the restoration of sustainability.\n- The key policy challenge is to prevent a fiscal crisis, achieve macroeconomic sustainability, and stimulate growth.\n- The authorities concur with the need to tighten monetary policy.\n- The authorities have welcomed the IMF program as a useful framework to guide and reinforce their efforts to restore external balance and fiscal sustainability."
    },
    {
      "heading": "Major findings and diagnostics",
      "content": "- Severe fiscal and external imbalances prompted program adoption in 2009.\n- Initial policy actions were considered crucial but insufficient in the face of subsequent fiscal slippages.\n- Political polarization has been identified as a factor that undermined restoration of sustainability.\n- Restoring external balance and fiscal sustainability remains a central priority."
    },
    {
      "heading": "Policy recommendations and authorities' stance",
      "content": "- Tighten monetary policy (authorities concur with this need).\n- Use the IMF program as a framework to guide and reinforce efforts to:\n  - Prevent a fiscal crisis.\n  - Achieve macroeconomic sustainability.\n  - Stimulate growth."
    },
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      "heading": "Document metadata (selected)",
      "content": "- Pages: 78\n- Volume: 2011\n- Issue: 293\n- Series: Country Report No. 2011/293\n- DOI: https://doi.org/10.5089/9781463904333.002\n- Stock No: 1MDVEA2011001\n- ISBN: 9781463904333\n- ISSN: 1934-7685\n- Publication date on landing page: September 26, 2011\n\nSource: 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\n\n---\n\n Content in this bundle\n\n- cr11293\n  - cr11293 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr11293 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 26, 2011",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781463904333.002",
    "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.",
    "Severe fiscal and external imbalances prompted program adoption in 2009.",
    "Initial policy actions were considered crucial but insufficient in the face of subsequent fiscal slippages.",
    "Political polarization has been identified as a factor that undermined restoration of sustainability.",
    "Restoring external balance and fiscal sustainability remains a central priority.",
    "Tighten monetary policy (authorities concur with this need).",
    "Use the IMF program as a framework to guide and reinforce efforts to:",
    "Pages: 78",
    "Volume: 2011",
    "Issue: 293",
    "Series: Country Report No. 2011/293",
    "DOI: https://doi.org/10.5089/9781463904333.002",
    "Stock No: 1MDVEA2011001",
    "ISBN: 9781463904333",
    "ISSN: 1934-7685",
    "Publication date on landing page: September 26, 2011",
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