Maldives: Use of Fund Resources—Request for Emergency Assistance
IMF Staff Country Reports, April 28, 2005
Source details
- Canonical URL
- Maldives: Use of Fund Resources—Request for Emergency Assistance
Other formats
Bibliographic details
- Published: April 28, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451825497.002
Overview
- This paper reviews the Maldives’s Use of IMF Resources and Request for Emergency Assistance.
- The authorities requested a purchase of an amount equivalent to SDR 4.1 million (50 percent of quota) under the IMF’s policy on emergency assistance related to natural disasters.
- The authorities requested the provision of subsidies to reduce the rate of charge on these resources.
- IMF staff supports these requests given the exceptional severity of the tsunami’s economic impact and the authorities’ record of sound macroeconomic management and good cooperation with the IMF.
Request specifics
- Requested purchase amount: SDR 4.1 million (50 percent of quota).
- Requested policy treatment: provision of subsidies to reduce the rate of charge on the emergency resources.
IMF staff assessment and rationale
- IMF staff supports the authorities’ requests.
- Stated reasons for support:
- Exceptional severity of the tsunami’s economic impact.
- Authorities’ record of sound macroeconomic management.
- Good cooperation with the IMF.
Subject coverage and keywords
- Subject areas: Economic sectors, Environment, Exports, External debt, Imports, International trade, Natural disasters, Tourism.
- Keywords: assistance, budget support, cost, CR, Exports, government, Imports, international community, ISCR, natural disaster assistance, Natural disasters, reconstruction cost, revenue increase, SDR, Tourism.