Maldives Economic Update, September 2010
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Washington, DC
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The rebound in tourism experienced since
August 2009 seems to have been sustained, auguring well for
a sizeable recovery this year from the slump of 2009.
Despite having posted better-than-expected fiscal results in
the first half of the year, the country will be hard-pressed
to sustain this in the medium term. However, despite the
challenges, the government remains steadfastly committed to
fiscal consolidation. Monetary policy has been made more
conducive to sustaining both domestic stability and external
stability. Inflation pressures remain modest, with the
introduction of non-monetary financing of the deficit.
However, the country's turbulent political environment
persists, complicating forecasts of future outcomes. The
ambitious task of fiscal consolidation and the establishment
of macro stability require much political bi-partisanship
and cooperation.
Palabras clave
ACCESS TO FINANCIAL SERVICES, ACCOUNTING, AGRICULTURE, ANNUAL GROWTH, ASSETS, AUCTION, AUCTION SYSTEM, AUCTIONS, AVERAGE OIL PRICES, BALANCE OF PAYMENTS, BANK ACCOUNTS, BANKING PROJECT, BANKING SYSTEM, BIDS, BILLS, CAPITAL FLOWS, CAPITAL GRANTS, CASH FLOWS, COMMERCIAL BANKS, COMMODITIES, COMMODITY, COMMODITY PRICE, COMMODITY PRICES, CONSUMER PRICE INDEX, CONSUMER PRICE INFLATION, CREDIT EXPANSION, CREDIT GROWTH, CREDIT OUTSTANDING, CURRENCY, CURRENCY PAYMENT, CURRENT ACCOUNT, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, CURRENT ACCOUNT SURPLUS, DECENTRALIZATION, DEFICIT FINANCING, DEPRECIATION, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICY, DOMESTIC BANKING, DOMESTIC BANKING SYSTEM, DOMESTIC CREDIT, DOMESTIC SAVINGS, DUMPING, EARNINGS, ECONOMIC CRISIS, ECONOMIC DEVELOPMENTS, ECONOMIC GROWTH, ECONOMIC OPPORTUNITIES, ECONOMIC POLICY, EMPLOYEE, EMPLOYER, ENVIRONMENTAL MANAGEMENT, ENVIRONMENTAL RISKS, EXCESS LIQUIDITY, EXCHANGE RATE, EXCHANGE RATE PEG, EXPENDITURE, EXPENDITURES, EXPORT GROWTH, EXPORTS, FINANCIAL CRISIS, FINANCIAL FLOWS, FINANCIAL MANAGEMENT, FINANCIAL SERVICES, FINANCING REQUIREMENT, FISCAL CONSOLIDATION, FISCAL DEFICIT, FIXED INVESTMENT, FORECASTS, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE RESERVES, FOREIGN FINANCING, GDP, GDP DEFLATOR, GLOBAL CLIMATE, GOVERNMENT FINANCE, GOVERNMENT INVESTMENT, GOVERNMENT POLICY, GOVERNMENT REVENUES, GOVERNMENT SECURITIES, GROSS DOMESTIC PRODUCT, GROSS NATIONAL SAVINGS, GROWTH RATES, HIGH-INCOME COUNTRIES, HUMAN DEVELOPMENT, IMBALANCES, IMPORT, IMPORT DUTIES, IMPORT DUTY, IMPORT GROWTH, IMPORT PRICES, IMPORTS, INCOME, INFLATION, INTEREST RATE, INTEREST RATES, INTERNATIONAL MARKET, INTERNATIONAL RESERVES, INVESTMENT PROJECTS, KEY RISK, LIQUIDITY, LOCAL CURRENCY, LONG-TERM LOANS, M1