Maldives: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives

November 11, 2023

Preview Citation

Format: Chicago

Maldives: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

The Maldives’ economy is recovering rapidly from the pandemic, underpinned by a strong resumption in tourism on the back of the authorities’ rapid vaccine rollout and policy support measures. Fiscal and external vulnerabilities remain elevated due to rising subsidies, high capital spending, and an increased interest burden. The Maldives has a high risk of external debt distress and a high overall risk of debt distress. Inflation has risen but is relatively contained due to price subsidies. Risks to the outlook are tilted to the downside, including a possible sharp slowdown in key source markets for tourism, high commodity prices, and tighter global financial conditions. A resumption of tourist arrivals from China is an upside risk to growth.

Subject: Capital spending, Expenditure, External debt, Fiscal policy, Government debt management, International organization, Monetary policy, Public debt, Public financial management (PFM)

Keywords: Capital spending, Global, Government debt management, Government policy, Market in the Maldives, MMA authorities, Parliament approval, SARTTAC mission, Staff appraisal

Publication Details

Pages:

121
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/366
Stock No:

1MDVEA2023002
ISBN:

9798400258633
ISSN:

1934-7685

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