Eva asks govt to submit detailed IMF assessment

MP Eva Abdulla has requested finance minister Ibrahim Ameer to share a detailed report on the International Monetary Fund (IMF)'s assessment of the Maldives' economy and the state's finances.

Eva, in a letter addressed to minister Ameer, said that the IMF's report, prepared after assessing the country's financial situation, has noted a worrisome increase in the amount of public debt. 

Noting that the IMF has asked the government to prioritise reducing government spending without "sustained fiscal consolidation", Eva's letter stated that the IMF's position on the economic and fiscal situation of the country will be known only from the government’s detailed report. 

Eva's letter noted that the IMF will make the report public with the approval of the government of the country where the report is submitted. Eva also pointed out that no detailed reports on the Maldives have been made public since 2020.

"At a time of economic and financial concern, it is dangerous not to share information transparently with the public," Eva said in the letter, seeking a detailed report on the IMF review.

In the report released by the IMF’s board after their delegation's visit to the Maldives, the board of executive directors advised to take immediate steps to reduce spending and debt on major projects even though the country will bounce back from the pandemic effects.

The IMF's Board of Executive Directors has called on the Maldives to take important financial reforms as the global economy continues to be affected. Here are some of the key steps highlighted by the IMF board: