Maldives: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives

December 1, 2017

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Format: Chicago

Maldives: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives, (USA: International Monetary Fund, 2017) accessed December 21, 2024

Summary

This 2017 Article IV Consultation highlights that Maldives’ economy grew by 3.9 percent in 2016 and continues to improve in 2017 on a recovery in tourism and a continued strength in construction. The fiscal deficit widened in 2016 driven by lower-than-expected revenue and large arrears clearance despite unchanged current spending. Public debt as a share of GDP rose nearly 11.5 percentage points from 2014–16. The outlook is for a strengthening recovery in the near term, with low inflation, loose financial conditions, but with significant downside risks from a fragile fiscal and external position. Growth is projected to recover in 2017 and stabilize over the medium term.

Subject: Economic sectors, External debt, Fiscal policy, Fiscal stance, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Tourism

Keywords: Authority, CR, Deficit, Europe, Fiscal stance, GDP, Global, Infrastructure investment, Infrastructure investment project, Investment project, ISCR, Maldives economy, MMA liability, Real GDP, South Asia, The Maldives authorities, Tourism

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/357
Stock No:

1MDVEA2017001
ISBN:

9781484330999
ISSN:

1934-7685

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