Maldives: Technical Assistance Report-Public Investment Management Assessment
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
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.
Series:
Country Report No. 2019/102
Subject:
Budget planning and preparation Capital budget Capital spending Expenditure Public financial management (PFM) Public investment and public-private partnerships (PPP) Public investment spending
English
Publication Date:
April 17, 2019
ISBN/ISSN:
9781498310901/1934-7685
Stock No:
1MDVEA2019001
Pages:
69
Please address any questions about this title to publications@imf.org