Maldives Technical Assistance Report Revising The Fiscal Responsibility Act

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Maldives: Technical Assistance Report-Revising the Fiscal Responsibility Act

International Monetary,International Monetary Fund. Fiscal Affairs Dept.
Maldives Technical Assistance Report Revising the Fiscal Responsibility Act Book PDF

Author : International Monetary,International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 99 pages
File Size : 46,5 Mb
Release : 2022-01-14
Category : Business & Economics
ISBN : 9781616359713

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Maldives: Technical Assistance Report-Revising the Fiscal Responsibility Act by International Monetary,International Monetary Fund. Fiscal Affairs Dept. Pdf

The Fiscal Responsibility Act (FRA) came into effect in 2013 to reduce rising public debt and achieve fiscal stability. Maldives has experienced rapid public debt accumulation over the past decade. The FRA establishes objectives for maintaining debt at a sustainable level and reducing the overall fiscal balance. The Act also sets minimum standards for fiscal transparency and accountability and requires the Government to prepare and publish medium-term fiscal and debt strategy reports.

Maldives: Technical Assistance Report-Fiscal Transparency Evaluation

International Monetary,International Monetary Fund. Fiscal Affairs Dept.
Maldives Technical Assistance Report Fiscal Transparency Evaluation Book PDF

Author : International Monetary,International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 93 pages
File Size : 52,8 Mb
Release : 2021-07-23
Category : Business & Economics
ISBN : 9781513592183

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Maldives: Technical Assistance Report-Fiscal Transparency Evaluation by International Monetary,International Monetary Fund. Fiscal Affairs Dept. Pdf

Reflecting an ongoing commitment to enhancing fiscal transparency, Maldives is the first small island state, and the second country in Asia, to have undertaken a Fiscal Transparency Evaluation (FTE). The Government of the Maldives (GoM) recognizes the importance of transparency in fiscal management and in delivering on its ambitious policy agenda, while responding to current challenges within a tight fiscal environment. This report assesses fiscal transparency practices in Maldives against the first three pillars of the IMF’s Fiscal Transparency Code (FTC).

Maldives

International Monetary Fund. Fiscal Affairs Dept.
Maldives Book PDF

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 74 pages
File Size : 52,5 Mb
Release : 2019-04-17
Category : Business & Economics
ISBN : 9781498310901

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Maldives by International Monetary Fund. Fiscal Affairs Dept. Pdf

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.

Maldives

International Monetary Fund. Asia and Pacific Dept
Maldives Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 101 pages
File Size : 40,6 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400275920

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Maldives by International Monetary Fund. Asia and Pacific Dept Pdf

Despite headwinds from the war in Ukraine, the Maldives’ economic recovery from the COVID-19 pandemic has shown resilience. The cyclical rebound and still favorable economic outlook provide an opportunity for the Maldives to address its large fiscal and external vulnerabilities. This calls for immediate policy actions to rebuild economic resilience and reduce debt to a sustainable level. Given that the Maldives is highly vulnerable to climate change, early actions to rein in debt vulnerabilities will help support the Maldives’ efforts to scale up the much-needed climate adaptation investments in a resource constrained context.

Fiscal Adjustment in IMF-Supported Programs

International Monetary Fund. Independent Evaluation Office
Fiscal Adjustment in IMF Supported Programs Book PDF

Author : International Monetary Fund. Independent Evaluation Office
Publisher : International Monetary Fund
Page : 128 pages
File Size : 55,6 Mb
Release : 2003-11-17
Category : Business & Economics
ISBN : 9781589062740

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Fiscal Adjustment in IMF-Supported Programs by International Monetary Fund. Independent Evaluation Office Pdf

Using a cross-country sample of 169 IMF-supported programs and detailed studies of 15 programs, this evaluation report examines various aspects of fiscal adjustment in IMF-supported programs. It presents evidence that does not support some critics’ view that IMF-supported programs typically adopt a one-size-fits-all approach to fiscal adjustment, nor the perception that programs always involve austerity by targeting reductions in public spending. The report also proposes a number of recommendations for IMF surveillance and program design in the future.

Maldives

International Monetary Fund. Asia and Pacific Dept
Maldives Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 121 pages
File Size : 41,6 Mb
Release : 2023-11-11
Category : Business & Economics
ISBN : 9798400258633

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Maldives by International Monetary Fund. Asia and Pacific Dept Pdf

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.

Maldives

International Monetary Fund
Maldives Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 78 pages
File Size : 53,7 Mb
Release : 2011-09-26
Category : Business & Economics
ISBN : 9781463904333

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Maldives by International Monetary Fund Pdf

Owing to severe fiscal and external imbalances, the Maldives government adopted an IMF program in 2009. Despite some crucial initial actions, fiscal slippages and political polarization have undermined the restoration of sustainability. The key policy challenge is to prevent a fiscal crisis, achieve macroeconomic sustainability, and stimulate growth. The authorities concur with the need to tighten monetary policy. The authorities have welcomed the IMF program as a useful framework to guide and reinforce their efforts to restore external balance and fiscal sustainability.

Tonga

International Monetary Fund. Asia and Pacific Dept
Tonga Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 98 pages
File Size : 47,8 Mb
Release : 2021-02-01
Category : Business & Economics
ISBN : 9781513568041

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Tonga by International Monetary Fund. Asia and Pacific Dept Pdf

Tonga’s recovery following the devastation of the 2018 Cyclone Gita has been derailed by a double blow from the pandemic and Cyclone Harold. FY2020 GDP growth is estimated to fall to -21⁄2 percent due to domestic containment measures, a sudden stop in tourism, and investment delays. The full brunt of the pandemic will be felt in FY2021 (beginning July) during peak tourism season, when a deeper contraction is expected. A worse outcome was avoided by early actions to close external borders—which has kept Tonga COVID-19-free—and prompt economic support. Beyond FY2021, the recovery is expected to resume in line with the global recovery, but the magnitude and trajectory is uncertain.

Benin

International Monetary Fund. Fiscal Affairs Dept.
Benin Book PDF

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 70 pages
File Size : 52,9 Mb
Release : 2020-01-27
Category : Business & Economics
ISBN : 9781513528090

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Benin by International Monetary Fund. Fiscal Affairs Dept. Pdf

The Public Investment Management Assessment (PIMA) of Benin has brought to light an institutional framework of high quality but ineffective implementation. In accordance with the PIMA methodology applied in several countries, the mission focused on assessing the institutional strengths for each institution in the analytical framework, as well as its effective implementation. The authorities in 2016 adopted an ambitious investment plan, the government action program (PAG), which is designed to stimulate Benin's economic and social development. Investments in flagship sectors have been identified as means to support this development; the PAG provides recourse primarily to new financing mechanisms, such as public-private partnerships, to ensure the realization of these investments. In connection with the implementation of the PAG, the financial incidences of selected projects should be fully accounted for and reflected in the budget documentation to ensure their sustainability. Enhanced coordination of planning and budget exercises would encourage a better consideration of recurrent expenditure.

Maldives

Asian Development Bank
Maldives Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 291 pages
File Size : 43,5 Mb
Release : 2015-08-01
Category : Business & Economics
ISBN : 9789292570453

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Maldives by Asian Development Bank Pdf

The Maldives has propelled itself to middle-income status despite its geographic constraints and the risks it faces as a small island economy. The economy has been growing in the last 5 years, but development challenges remain formidable. How can the Maldives sustain and improve the pace of its economic growth and reduce poverty and inequality? This report identifies the critical constraints to inclusive growth and discusses policy options to overcome such constraints.

Public Sector Debt Statistics

International Monetary Fund
Public Sector Debt Statistics Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 230 pages
File Size : 41,9 Mb
Release : 2011-12-08
Category : Business & Economics
ISBN : 9781616351564

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Public Sector Debt Statistics by International Monetary Fund Pdf

The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.

International Monetary Fund Annual Report 2021

International Monetary Fund. Secretary's Department
International Monetary Fund Annual Report 2021 Book PDF

Author : International Monetary Fund. Secretary's Department
Publisher : International Monetary Fund
Page : 74 pages
File Size : 55,5 Mb
Release : 2021-10-04
Category : Business & Economics
ISBN : 9781513568812

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International Monetary Fund Annual Report 2021 by International Monetary Fund. Secretary's Department Pdf

A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition

OECD
Standard for Automatic Exchange of Financial Account Information in Tax Matters Second Edition Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 324 pages
File Size : 50,8 Mb
Release : 2017-03-27
Category : Electronic
ISBN : 9789264267992

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Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition by OECD Pdf

This publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.

International Monetary Fund Annual Report 2016 Financial Statements

International Monetary Fund
International Monetary Fund Annual Report 2016 Financial Statements Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 90 pages
File Size : 51,7 Mb
Release : 2016-09-27
Category : Business & Economics
ISBN : 9781475522631

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International Monetary Fund Annual Report 2016 Financial Statements by International Monetary Fund Pdf

This paper outlines that the IMF is exposed to various types of operational and financial risks, including credit, market, liquidity, and income risks. The Executive Board of the IMF has overall responsibility for the establishment and oversight of the IMF’s risk management framework. The risk management framework encompasses primarily strategic, financial, and operational risks. As part of this framework, the Advisory Committee on Risk Management (ACRM) has been established to analyze, synthesize, and report on risks. Credit risk on credit outstanding refers to potential losses owing to the failure of member countries to make repurchases. Credit risk is inherent in the IMF's unique role in the international monetary system since the IMF has limited ability to diversify its loan portfolio and generally provides financing when other sources are not available to a member. Measures to help mitigate the IMF's credit risk include policies on access limits, program design, monitoring, and economic policies that members agree to follow as a condition for IMF financing; early repurchase policies; and preventative, precautionary, remedial measures and precautionary balances to cope with the financial consequences of protracted arrears.

Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe

Mr.Bernardin Akitoby,Mr.Larry Q Cui,Silvia Domit,Jingzhou Meng,Mr.Slavi T Slavov,Mrs.Nujin Suphaphiphat,Hanqi Zhang
Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central Eastern and Southeastern Europe Book PDF

Author : Mr.Bernardin Akitoby,Mr.Larry Q Cui,Silvia Domit,Jingzhou Meng,Mr.Slavi T Slavov,Mrs.Nujin Suphaphiphat,Hanqi Zhang
Publisher : International Monetary Fund
Page : 66 pages
File Size : 53,8 Mb
Release : 2020-05-11
Category : Business & Economics
ISBN : 9781513532837

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Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe by Mr.Bernardin Akitoby,Mr.Larry Q Cui,Silvia Domit,Jingzhou Meng,Mr.Slavi T Slavov,Mrs.Nujin Suphaphiphat,Hanqi Zhang Pdf

This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.