Maldives Economic Reform Plan Receives Support from IMF

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), held discussions with President Dr. Mohamed Muizzu of the Maldives during the World Governments Summit 2024. The focal point of the conversation was the imperative for the Maldives to implement fiscal structural reforms and consolidation strategies to fortify its economy.

Ms. Georgieva recognized the substantial fiscal challenges confronting the Maldives government and underscored the necessity for prudent measures to address them. She commended President Dr. Muizzu’s emphasis on public-sector reforms outlined in his inaugural address, deeming them pivotal for supporting economic stability and growth.

The IMF Managing Director expressed confidence in the government’s economic reform agenda, viewing it as a pathway to building a more resilient future for the Maldives. She also praised the President’s transparent communication with the public regarding these initiatives.

Climate change adaptation and resilience emerged as other critical areas of cooperation discussed during the meeting. Georgieva emphasized the need for investments to safeguard the Maldives’ natural environment and enhance resilience against the impact of climate change.

President Dr. Muizzu conveyed gratitude to the IMF for its ongoing support and underscored the robust relationship between the organization and the Maldives. Both parties affirmed their commitment to sustained collaboration.

It’s noteworthy that Kristalina Georgieva previously held positions as CEO of the World Bank and Vice President for Budget and Human Resources of the European Commission.

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