Government-by-Government Assessments: Maldives
During the review period, the government made significant progress by publishing an audit report of the entire annual executed budget within a reasonable period. Budget documents were made widely and easily accessible to the public, including online. Budget documents provided a substantially complete picture of the government’s planned expenditures and revenue, and budget documents were considered generally reliable. Information on debt obligations, including major state-owned enterprise debt, was publicly available. The supreme audit institution met international standards of independence. 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:
- Ensuring the sovereign wealth fund has a sound legal framework and discloses its source of funding and general approach to withdrawals.