2022 Fiscal Transparency Report: Maldives

Government-by-Government Assessments: Maldives

During the review period, the government made budget documents widely and easily accessible to the public, including online.  Budget documents provided a substantially complete picture of the government’s planned expenditures and revenue streams, and budget documents were considered generally reliable.  Information on debt obligations, including state-owned enterprise debt, was publicly available.  The supreme audit institution met international standards of independence, but its audit reports were delayed.  The sovereign wealth fund did not have a sound legal framework or disclose its source of funding and general approach to withdrawals.

Maldives’ fiscal transparency would be improved by:

• Publishing audit reports within a reasonable period; and
• Ensuring the sovereign wealth fund has a sound legal framework and discloses its source of funding and general approach to withdrawals.