Debt Management Performance Assessment : Maldives
A World Bank (WB) mission undertook an assessment of the government's debt management(DeM) capacity and institutions in Maldives during March 20-29, 2019, at the request of theMinistry of Finance (MoF). The objective of the mission was to asse...
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| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/964251564149648484/Maldives-Debt-Management-Performance-Assessment-DeMPA http://hdl.handle.net/10986/32188 |
| Summary: | A World Bank (WB) mission undertook an
assessment of the government's debt management(DeM)
capacity and institutions in Maldives during March 20-29,
2019, at the request of theMinistry of Finance (MoF). The
objective of the mission was to assess the DeM strengths
andareas in need of reform through the application of the
Debt Management Performance Assessment (DeMPA) methodology.
This is the second evaluation for Maldives; the first DeMPA
was conducted by the WB in 2009. The MoF has implemented a
series of public finance management reforms in legal and
institutional arrangements since the last DeMPA. Treasury
operations have experienced a complete overhaul, including
the rolling out an Integrated Financial Management
Information System (SAP) to government entities on
Male', establishment of a Treasury Single Account (TSA)
and the development of cash flow forecasting procedures. The
coverage of the debt management system, the CS-DRMS, has
also been expanded and is now used as a central database for
almost all debt obligations (excluding Islamic instruments).
The DeMPA methodology, revised in 2015, provides a
comprehensive set of indicators spanning the full range of
DeM functions and is used for in-depth analysis of
government debt management functions and institutions. The
results of the assessment help the central government
authority to take stock of the current DeM situation and
design medium term priority reforms. The results of
2019's assessment for Maldives demonstrate many
broad-based improvements implemented in Maldives and provide
highlights of pending reforms. |
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