Maldives: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives

May 31, 2016

Preview Citation

Format: Chicago

Maldives: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives, (USA: International Monetary Fund, 2016) accessed December 22, 2024

Summary

This paper discusses recent economic developments, outlook, and risks of Maldives’ economy. Maldives living standards have risen to middle-income levels over the past two decades driven by tourism development. The country’s geography creates fiscal challenges, and the economy has faced persistent fiscal deficits over the past decade. The economy is highly exposed to climate change, a fact that further adds to fiscal costs. The real economy outperformed its peers in the past few years, but tourism slowed last year. Public debt is high and on a rising trajectory. A detailed national development strategy would ensure that investment plans are well coordinated and bring about bigger growth dividends.

Subject: Climate change, Economic sectors, Environment, External debt, Fiscal policy, Fiscal stance, Public and publicly-guaranteed external debt, Public debt, Tourism

Keywords: Asia and Pacific, Climate change, CR, Current account, Deficit, Europe, Exchange rate, Fiscal stance, GDP, Global, ISCR, Maldives economy, Monetary policy stance, South Asia, Staff's projection, Tourism, Tourism activity, Tourism arrival

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/135
Stock No:

1MDVEA2016001
ISBN:

9781484356661
ISSN:

1934-7685

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