Maldives Debt Management Reform Plan
The first Debt Management Performance Assessment (DeMPA) for Maldives was conducted in 2009, and a second DeMPA was completed in March 2019. The authorities have taken important steps to improve debt management since the first assessment, but many challenges remain. The government has implemented...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/559441583261290588/Maldives-Debt-Management-Reform-Plan http://hdl.handle.net/10986/33431 |
| Summary: | The first Debt Management Performance Assessment (DeMPA) for Maldives was
conducted in 2009, and a second DeMPA was completed in March 2019. The
authorities have taken important steps to improve debt management since the first
assessment, but many challenges remain. The government has implemented a series of reforms to public financial and debt management, including changes to the legal and
institutional framework. Key measures include a complete overhaul of Treasury
operations, the implementation of the Integrated Financial Management Information
System (IFMIS) across all government entities in the capital, Malé, the establishment of a
Treasury Single Account, and the development of cash-flow forecasting procedures. The
coverage of the Commonwealth Secretariat Debt Recording and Management System (CSDRMS) has also been expanded, and the CS-DRMS is now used as a central database for almost all debt obligations, except Islamic finance instruments. The results of the 2019 DeMPA shed light on these improvements and indicate areas for further action. |
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