A statement issued by International Monetary Fund (IMF) on 4 December has said the government's policy program to address the economic situation is “strong, comprehensive, and well-focused”.
The statement, which was issued by Mr Takatoshi Kato, Deputy Managing Director and Acting Chair of IMF Executive Board, following the IMF Executive Board’s approval of a combined SDR 5704 million (about US$92.5 million) to the Maldives, further says the policy programme “deserves strong support of the international community”.
The IMF statement notes that the Maldives’s economy was severely affected by the global economic crisis and because of the “unsustainable public spending over the last few years”.
Mr Kato said, “If fully implemented, [the policy programme] will put the Maldivian economy back on a path of macroeconomic stability and set the conditions for sustained economic growth and poverty reduction”.
