IMF Backs Maldives Economic Reform Plan

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), met with President Dr Mohamed Muizzu of the Maldives during the World Governments Summit 2024. The discussion focused on the need for Maldives to implement fiscal structural reforms and consolidation strategies to strengthen its economy.

Ms. Georgieva acknowledged the significant fiscal challenges faced by the Maldives government and emphasized the importance of prudent measures to address them. She praised President Dr. Muizzu’s focus on public-sector reforms outlined in his inaugural address, recognizing them as key to supporting economic stability and growth.

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The IMF Managing Director expressed confidence in the government’s economic reform agenda and its potential to build a more resilient future for the Maldives. She also commended the President’s clear communication with the public regarding these initiatives.

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

President Dr Muizzu thanked the IMF for its continued support and underlined the strong relationship between the organization and the Maldives. Both parties expressed a commitment to continued collaboration.

Kristalina Georgieva previously served as CEO of the World Bank and Vice President for Budget and Human Resources of the European Commission.

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