ADB head urges Maldives to focus on deficit

President of the Asian Development Bank (ADB) Haruhiko Kuroda has said that while the Maldives’ climate change goals are commendable, the government should focus on improving fiscal management.

“ADB is pleased to support the Government’s reform measures to address the large fiscal deficit. Recently announced retirement incentives would reduce fiscal expenditure in future. Private sector development, especially promotion of micro- small- and medium-sized enterprises, will further support the Government by creating job opportunities, especially in the outer atolls,” he said.

During a two day visit to the Maldives last week, the ADB President made field trips to the ADB-assisted Malé Commercial Harbor and Malé North Harbor projects, and addressed students of Maldives National University during his visit.

The Maldives, which joined ADB in 1978, has received loans, grants and technical assistance of $196 million, which support infrastructure, capacity development and expansion of the private sector.