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Macroeconomics and Fiscal Policy

1.

Resolving the existing dollar crunch and curbing black market currency exchange, by returning the exchange rate back into the designated band.

2.

Establishing an Investment Bank in the Maldives, for the very first time, to avail of large-scale financing for government projects and private investments.

3.

Implementing a cooling-off period for foreign investments into the Maldives to ensure foreign investments are backed by foreign currency inflow and that the foreign currency remains in circulation in the Maldivian economy before being accessed for repatriation of Profits.

4.

Strengthening the regulation of SOEs to transform them from debt burdens to income-generating assets.

5.

Enhancing ancillary services for tourists, in local tourism hotspots, as an added source of steady revenue.

6.

Reviewing and utilizing existing legislation to improve revenue generation.

7.

Investing the Pension Fund in prudent, high-yield investment funds.

8.

Strictly enforcing withholding taxes that are in place to protect local businesses, and reviewing taxable activities for non-resident businesses.

9.

Expanding capital market development and introducing international best practices in lucrative, financially secure investments.

10.

Relaxing the constraints on foreign currency withdrawals abroad from local accounts, as well as easing the severe daily (and monthly) limits on debit and credit card usage abroad both off ATMs and POS machines, to assist Maldivians in diaspora and entrepreneurs in wholesale and retail trade.

11.

Establishing one-stop financial services centers in every inhabited island.

12.

Encouraging bulk purchase of construction materials from multiple supply markets, to mitigate against supply disruptions and sudden price fluctuations.

13.

Formulating a sustainable and transparent short-term and long-term debt policy.

14.

Formulating short-term and long-term plans to address current debts through the implementation of repayment strategies and creation of income-generating assets.

15.

Migrating to a progressive, systematic budgeting process, to reduce budget deficit over time.

16.

Enacting a Fiscal Policy Law to ensure responsibility and accountability in government expenditure.

17.

Improving the management of all State assets and funds, including consolidating management of all funds under one asset management company to generate better returns on assets and funds.

18.

Developing, for the first time, a credit scoring mechanism for individuals and businesses through licensed FinTech companies in the Maldives.

19.

Recognizing that fuel as an essential service, and ensuring that petrol and diesel are easily and readily available on at least one island in each atoll.

20.

Entering into investment protection, free trade, and avoidance of double taxation agreements with all key development partner countries, to boost inward investment and trade volume.

21.

Launching an Annual Global Investment Promotion tour to promote opportunities in the Maldives in business and trade, infrastructure investment, banking and commerce, and tourism.

Progressive Party of Maldives17 October 2011

PPM

People's National Congress31 January 2019

PNC

  • PPM

    Progressive Party of Maldives
  • PNC

    People's National Congress