An International Monetary Fund (IMF) mission focusing on the governance of state-owned enterprises (SOEs) is set to visit the Maldives from October 8 to 16, the Ministry of Finance announced today.
The delegation's primary objective will be to examine the governance and accountability frameworks of government-owned companies, as well as other related arrangements. This assessment aims to inform the development of new legislation governing SOEs in the Maldives.
While specific details of the visit have not yet been disclosed, the IMF has previously advocated for reforms within state-owned enterprises, many of which operate at a loss and are heavily subsidized by the government.
Speculation has surfaced regarding the possibility of the Maldives requiring an IMF support package due to its financial situation. However, the government recently denied any immediate need for such measures.
The upcoming visit signals the Maldivian government’s commitment to improving the efficiency and transparency of its state-owned enterprises, which play a critical role in the nation’s economy.
The delegation's primary objective will be to examine the governance and accountability frameworks of government-owned companies, as well as other related arrangements. This assessment aims to inform the development of new legislation governing SOEs in the Maldives.
While specific details of the visit have not yet been disclosed, the IMF has previously advocated for reforms within state-owned enterprises, many of which operate at a loss and are heavily subsidized by the government.
Speculation has surfaced regarding the possibility of the Maldives requiring an IMF support package due to its financial situation. However, the government recently denied any immediate need for such measures.
The upcoming visit signals the Maldivian government’s commitment to improving the efficiency and transparency of its state-owned enterprises, which play a critical role in the nation’s economy.
