International Monetary Fund

The International Monetary Fund (IMF) was formed during 1944 at the Bretton Woods conference, but formally started its activities during 1945 with 29 member countries. IMF’s mandate include strengthening the economic stability among its member countries by lending to countries experiencing Balance of Payments problems. IMF also surveillances the economic conditions of its member countries by gathering statistical data to help identify the weak areas in the economic sector and helping the members overcome those. They also provide financial assistance during any type of crisis that may arise in member countries. Maldives officially joined the IMF on 13th January 1978 and has since been receiving assistance from IMF. One notable assistance was during the recent Tsunami in 2004, where IMF provided financial assistance to the Maldives. 

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Related External Reports

Maldives : Use of Fund Resources-Request for Emergency Assistance (2005) Maldives : Joint Staff Advisory Note of the Poverty Reduction Strategy Paper (2005) Maldives: Poverty Reduction Strategy Paper (2008) BArticle IV Consultation (2009) Maldives 2008 Article IV Consultation (2009) Public Financial Management: Performance Report (2010) First Review Under the Stand-By Arrangement and the 24-Month Arrangement Under the Exogenous Shocks Facility and Requests for Waivers of Nonobservance of Performance Criteria and Modification of Performance Criterion: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Maldives. (2010) Maldives : Action Plan for PFM Reforms Based on PEFA Assessment (2010) Report on Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (2012) Exchange Rate Pass Through to prices in Maldives (2012) Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism (2012)
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