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...

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Main Author:	World Bank
Format:	Economic & Sector Work
Language:	English en_US
Published:	Washington, DC 2013
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 http://hdl.handle.net/10986/16231

id	okr-10986-16231
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	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
spellingShingle	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 World Bank Debt Management Performance Assessment : Maldives
geographic_facet	South Asia Maldives
description	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.
format	Economic & Sector Work
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Debt Management Performance Assessment : Maldives
title_short	Debt Management Performance Assessment : Maldives
title_full	Debt Management Performance Assessment : Maldives
title_fullStr	Debt Management Performance Assessment : Maldives
title_full_unstemmed	Debt Management Performance Assessment : Maldives
title_sort	debt management performance assessment : maldives
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2009/10/13950341/maldives-debt-management-performance-assessment-dempa http://hdl.handle.net/10986/16231
_version_	1764432575527387136
spelling	okr-10986-162312021-04-23T14:03:28Z Debt Management Performance Assessment : Maldives World Bank 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 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. 2013-11-06T21:57:34Z 2013-11-06T21:57:34Z 2009-10 http://documents.worldbank.org/curated/en/2009/10/13950341/maldives-debt-management-performance-assessment-dempa http://hdl.handle.net/10986/16231 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Debt Management Performance Assessment South Asia Maldives

Debt Management Performance Assessment : Maldives

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