Maldives: Technical Assistance Report-Public Investment Management Assessment

April 17, 2019

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Format: Chicago

Maldives: Technical Assistance Report-Public Investment Management Assessment, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Summary

This Technical Assistance Report discusses that in the Maldives, public investment trends have been influenced by a number of contextual factors including the economic dependency on tourism, the high exposure to climate change, and the recent democratization. The mission assessed the strength and quality of public investment management (PIM) in the Maldives using the IMF Public Investment Management framework, based on the three phases of the PIM cycle. The report highlights that the most significant weakness in the PIM and the wider Public Financial Management system is poor budget credibility and budget execution. However, some progress has been made in improving PIM institutions, and reforms are ongoing in a number of areas. It is imperative to strengthen the project appraisal process by developing a standard methodology for project appraisal, publishing this methodology and verifying that it is consistently applied by the line ministries. It is also important to develop a framework for ex-post evaluations and ensure that lessons learned from past projects are incorporated in revised guidelines and practices.

Subject: Budget planning and preparation, Capital budget, Capital spending, Expenditure, Public financial management (PFM), Public investment and public-private partnerships (PPP), Public investment spending

Keywords: Address government policy priority, Asia and Pacific, Budget planning and preparation, Budget process, Capital budget, Capital spending, Capital stock, Cash flow, Cash management, Central government, CR, General government investment, Global, Investment project, ISCR, Oversight body, Procurement regulation, Public investment, Public investment and public-private partnerships (PPP), Public investment spending, Short term

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/102
Stock No:

1MDVEA2019001
ISBN:

9781498310901
ISSN:

1934-7685

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