Publication: Debt Management Performance Assessment : Maldives
Date
2009-10
ISSN
Published
2009-10
Author(s)
World Bank
Abstract
From October 19 to 27, 2009, a World
Bank team in collaboration with the Commonwealth Secretariat
undertook a debt management performance assessment of the
Government of the Republic of Maldives (GRM). The objective
was to undertake a comprehensive assessment of debt
management functions using the Debt Management Performance
Assessment tool (DeMPA), version of November 2008. As part
of the assessment, the team met relevant officials dealing
with public debt management in Maldives from the Ministry of
Finance and Treasury (MOFT), the Maldives Monetary Authority
(MMA), the Attorney General, the Auditor General's
office, the National Disaster Management Centre, Capital
Markets Development Authority, the State Bank of India and
the Bank of Maldives. The assessment for Maldives was
timely. The current situation shows moderately high
government debt levels (around 55 percent of GDP) with
sustainability indicators reflecting vulnerabilities (at
current trajectory of primary deficit, the International
Monetary Fund (IMF) article four report estimated debt
levels would reach 75 percent of GDP by 2013). The recently
concluded Public Expenditure and Financial Accountability
(PEFA) findings highlighted areas for improvement relating
to budget execution and credibility, audit and legislative
oversight, cash management and the Treasury Single Account
(TSA), and monitoring and managing fiscal risks.
Link to Data Set
Citation
“World Bank. 2009. Debt Management Performance Assessment : Maldives. © Washington, DC. http://hdl.handle.net/10986/16231 License: CC BY 3.0 IGO.”