28 April 2010

MALE, MALDIVES – UNICON shortlisted for ADB project in Maldives on Institutional Strengthening for Economic Management - Tax Audit Consulting.

The Government of Maldives is aware of increasing fiscal constraints and associated external imbalances, and has started reforms to address them. However, it does not have the resources to implement many of these measures and has approached its development partners to support its economic reform program.

Asian Development Bank (ADB) in line with other development partners (IMF and World Bank) has provided program loan. It is also in line with the country strategy. The Government has initiated measures to (i) curtail expenditures; (ii) broaden the revenue base, (iii) streamline Government functions; (iv) address the issue of SOE circular debt; (v) reduce its borrowings from the Central Bank to finance the budget deficit, and (vi) strengthen the institutional framework for privatization and national planning.

The goal of this Project is to enhance Government's capacity to accomplish policy and institutional reforms supported by the Program (Economic Recovery Program).