Debt Management Performance Assessment : Maldives

World Bank

Debt Management Performance Assessment : Maldives

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.

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2009-10
Subjects:	ACCOUNTING, ADVISORY SERVICES, AMORTIZATION, AMORTIZATIONS, APPROVAL PROCEDURE, AUCTION, AUCTIONS, BALANCE OF PAYMENTS, BANK ACCOUNT, BANK ACCOUNTS, BANK LOANS, BANKER, BANKING CORPORATION, BIDS, BOOK ENTRY, BOOK ENTRY SYSTEM, BOOK-ENTRY, BORROWING PLAN, BORROWING PLANS, BORROWING STRATEGY, BUDGET, BUDGETING, CAPACITY BUILDING, CAPACITY CONSTRAINTS, CAPITAL MARKETS, CAPITAL MARKETS DEVELOPMENT, CASH BALANCE, CASH BALANCES, CASH FLOW, CASH FLOWS, CASH MANAGEMENT, CDS, CENTRAL BANK, CENTRAL DEPOSITORY, CENTRAL DEPOSITORY SYSTEM, CENTRAL GOVERNMENT DEBT, CHECK, CLEARING HOUSE, COMMERCIAL BANKS, COMMERCIAL BORROWING, COMMERCIAL LOANS, COMMERCIAL TERMS, CONFLICT OF INTEREST, CONTINGENT LIABILITIES, CONTRACTS, CONVERSION, CREDIBILITY, CREDIT, CREDIT ASSESSMENT, CREDIT RISK, CREDIT RISK ASSESSMENT, CREDIT RISK ASSESSMENTS, CREDITOR, CREDITORS, CS, CURRENCIES, CURRENCY, CURRENCY COMPOSITION, DEBT, DEBT BURDEN, DEBT CAPITAL, DEBT DATA, DEBT INTEREST, DEBT LEVELS, DEBT MANAGEMENT, DEBT MANAGEMENT POLICIES, DEBT MARKET DEVELOPMENT, DEBT MARKETS, DEBT POLICY, DEBT SERVICE, DEBT SERVICE PAYMENTS, DEBT SERVICING, DEBT TRANSACTIONS, DEBTOR, DEBTOR REPORTING SYSTEM, DEFICIT, DEFICIT FINANCING, DERIVATIVES, DEVELOPMENT BANK, DISASTER RECOVERY, DISBURSEMENT, DISBURSEMENTS, DISCLOSURE OF INFORMATION, DIVERSIFICATION, DOMESTIC BORROWING, DOMESTIC CURRENCY, DOMESTIC DEBT, DOMESTIC DEBT MARKET, DOMESTIC MARKET, DOMESTIC MARKETS, DUE DILIGENCE, ECONOMIC CRISIS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC POLICY, EMERGENCY SITUATION, ENTERPRISE, ENTERPRISES, EQUIPMENT, EXCHANGE, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURE, EXPENDITURES, EXTERNAL BORROWING, EXTERNAL BORROWINGS, EXTERNAL DEBT, EXTERNAL FINANCING, EXTERNAL SHOCKS, FINANCE, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL STATEMENT, FINANCIAL STATEMENTS, FINANCING NEEDS, FINANCING REQUIREMENT, FISCAL DEFICIT, FISCAL POLICY, FOREIGN CURRENCY, FOREIGN DEBT, FOREIGN LOANS, FUTURE, FUTURE CASH FLOWS, GOVERNMENT ACCOUNTS, GOVERNMENT BANK, GOVERNMENT BOND, GOVERNMENT BONDS, GOVERNMENT BORROWINGS, GOVERNMENT BUDGET, GOVERNMENT DEBT, GOVERNMENT FUNDING, GOVERNMENT GUARANTEES, GOVERNMENT SECURITIES, GRANT, GUARANTEE, GUARANTEE FEE, HOLDINGS, HUMAN RESOURCE, INFLATION, INFLATION RATE, INFORMATION TECHNOLOGY, INSTRUMENT, INSTRUMENTS, INTEREST, INTEREST PAYMENTS, INTEREST RATE, INTEREST RATES, INTERNAL AUDIT, ISSUANCE, ISSUANCE OF GUARANTEES, ISSUANCE OF TREASURY BILLS, ISSUANCES, LACK OF ACCESS, LEGAL FRAMEWORK, LENDER, LENDERS, LENDING, LEVEL OF DEBT, LIQUIDITY, LOAN, LOAN AGREEMENT, LOAN AGREEMENTS, LOAN CONTRACT, LOAN COVENANTS, LOAN DATA, LOAN GUARANTEE, LOAN GUARANTEES, LOANS, LOCAL CURRENCY, MACROECONOMIC POLICIES, MARKET BORROWING, MARKET PARTICIPANTS, MATERNITY LEAVE, MATURITIES, MATURITY, MATURITY MISMATCHES, MONETARY AUTHORITIES, MONETARY AUTHORITY, MONETARY POLICY, NATIONAL DEBT, OPEN MARKET, OUTSTANDING BALANCE, OUTSTANDING DOMESTIC DEBT, OVERDRAFT, OVERDRAFT FACILITY, PAYMENT ORDERS, PAYMENT SYSTEM, PENSION, PENSION SYSTEM, PEOPLE, PORTFOLIO, PRICE STABILITY, PROMISSORY NOTES, PROPERTY, PUBLIC BANK, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC DEBT STOCK, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC SECTOR DEBT, RECEIPT, REGISTRY SYSTEM, REPAYMENT, REPAYMENT SCHEDULES, REPAYMENTS, REPO, REPO FACILITY, REPOS, RETURN, REVENUE, REVENUES, RISK MANAGEMENT, SECONDARY MARKET, SECONDARY MARKET TRANSACTIONS, SECURITIES, SECURITY, SHARE, SHARES, SHORT-TERM BORROWING, SOURCE OF FUNDS, SOVEREIGN GUARANTEES, STATE BANK, STATUTORY REQUIREMENT, STOCK, STOCK EXCHANGE, T-BILLS, T-BONDS, TECHNICAL ASSISTANCE, TOTAL DEBT, TRANSACTIONS, TRANSPARENCY, TREASURY, TREASURY BILL, TREASURY BILL RATE, TREASURY BONDS, TURNOVER, USE OF DERIVATIVES, VALUATION, VARIABLE RATE, VOUCHER, VOUCHERS,
Online Access:	http://documents.worldbank.org/curated/en/2009/10/13950341/maldives-debt-management-performance-assessment-dempa https://hdl.handle.net/10986/16231
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