Maldives: Public Financial Management: Performance Report

IMF Staff Country Reports, May 3, 2010

Source details

Title: Maldives: Public Financial Management—Performance Report
Publication date: May 3, 2010
Focus: Assessment of Public Financial Management (PFM) in the Maldives for the period 2005–08 using the Public Expenditure and Financial Accountability (PEFA) methodology.
Length: 67 pages
Series: Country Report No. 2010/137
Issue: 137
Volume: 2010

Assessment framework: Public Expenditure and Financial Accountability (PEFA) methodology.
Coverage period: fiscal performance and institutions/procedures in place during 2005–08.
Institutional focus: central government PFM institutions and procedures relevant to budget credibility, revenue performance, expenditure allocations, and fiscal reporting.

Budget credibility: assessed as weak.
Aggregate expenditure estimates:
- When corrected for concessional, external financing, aggregate expenditure estimates are reasonably accurate.
Expenditure allocation:
- Significant variations in the allocation of expenditures by ministry.
Revenue performance:
- Actual revenues fell well below estimates in each year except 2006.

Subjects: Auditing; Budget planning and preparation; Expenditure; Financial statements; Fiscal accounting and reporting; PFM legal and regulatory frameworks; Public financial management (PFM).
Keywords: accounts payable; Auditing; budget; budget expenditure; Budget planning and preparation; budget proposal; central government; CR; end of the month; Fiscal accounting and reporting; Global; ISCR; minister of finance; PAS project; PAS system; PFM legal and regulatory frameworks; public finance; The PAS.

Source: Maldives: Public Financial Management: Performance Report (IMF Staff Country Reports, May 3, 2010).