IMF

Maldives downgraded to ‘fragile state’ by IMF

IMF restates advice for mitigating risks over high debt

The current administration’s ambitious infrastructure scale-up “has the potential for transforming the economy but also carries risks given the country’s large fiscal and external imbalances,” a visiting IMF delegation warned.

Yameen dismisses concern over debt as Maldives turns to global bond markets

The president’s remarks come after the World Bank warned in its Global Economic Prospects report released last week that “rising debt levels” and “persistent political tensions” are among the risks facing the Maldivian economy.

Moody’s assigns Maldives’ first sovereign credit rating

The Maldives was assigned a local and foreign currency issuer rating of B2, which is considered “speculative and subject to high credit risk.” According to Moody’s, the rating and stable outlook reflect healthy growth prospects driven by the tourism sector, low institutional strength, and a high and rising debt burden.

Government’s estimate for 2015 economic growth unrealistic, says World Bank

High levels of public debt “driven by high and rising public spending” is the immediate macroeconomic challenge facing the Maldives, observed the World Bank’s South Asia Economic Focus report released last week. The government’s forecast for economic growth is 8.5 percent, but both the World Bank and the International Monetary Fund (IMF) expect the Maldivian economy to grow by 5 percent this year.

Economic growth relatively strong, but public debt ratio high: IMF

Maldives economy “relatively buoyant” but fiscal imbalances continue to grow: IMF

Finance minister fears spiralling deficit will leave civil servants without pay

TEAM fears resort workers’ income may be indirectly affected by T-GST rise

IMF delegation surprised by resilience of Maldivian economy

President meets with Chief of IMF Mission to the Maldives

State developments to recommence by 2014 after Nasheed administration’s bills settled: President Waheed

Hiking airport service charge to US$30 narrowly rejected at parliament

Finance Minister aims to “rearrange” ministerial, independent institution spending

Parliamentary reaction mixed as Majlis committee cuts MVR2.4billion from state budget

Parliament passes bill on state wage policy to create Pay Commission

State Environment Minister plays down budget dispute, alleges media “misunderstanding”

Imports, exports rise in 2012 as current account deficit worsens

India calls in debts of US$100 million; “not a major concern” says Finance Minister

Finance Ministry proposes drastic austerity measures to Parliament