President meets with Chief of IMF Mission to the Maldives

President Abdulla Yameen Abdul Gayoom met with International Monetary Fund’s (IMF) Chief of Mission to the Maldives Dr Koshy Mathai today.

According to the President’s Office, Yameen briefed Mathai on the new administration’s economic policies and discussed ways to promote sustainable economic development in the country.

Yameen has warned Maldives’ economy “is in a deep pit” and pledged to reduce state expenditure.

In November 2012, the IMF called on the government to strengthen government finances by reducing the fiscal deficit, better target electricity subsidies, reduce and rationalize government’s health program Aasandha and control the high public sector wage bill.