H.E. Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), paid a courtesy call on H.E. President Dr Mohamed Muizzu on Monday. The meeting was held in Dubai on the sidelines of the World Governments Summit 2024.
During the meeting, H.E. Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), stressed the critical necessity for implementing comprehensive fiscal structural reforms and consolidation strategies to fortify a versatile economy against external shocks and internal challenges for the Maldives. She highlighted the dire fiscal situation faced by the new Administration upon assuming office, H.E. Georgieva highlighted the magnitude of the task at hand, emphasising the urgency of implementing prudent fiscal measures.
In a noteworthy acknowledgment of President Dr. Muizzu's proactive stance, decisiveness, and forward-thinking approach, she commended the ambitious public-sector reforms outlined in his inaugural address, recognizing their potential to pave the way for sustainable economic growth and stability. Expressing unwavering confidence in the economic reform agenda spearheaded by President Dr. Muizzu, H.E. Georgieva applauded the decisive steps taken by the Government, highlighting their significance in laying the groundwork for a resilient and prosperous future for the Maldives.
Commending President Dr. Muizzu's proactive engagement with the public, she applauded efforts to foster understanding and communicate the Government's initiatives transparently. Recognizing the Maldives’ unique position as a nation blessed with natural beauty but environmental fragility, she underscored the critical importance of new investments aimed at bolstering resilience.
The President and the IMF Managing Director also spoke on further areas of cooperation, including climate change, adaptation and resilience. President Dr Muizzu expressed profound gratitude to the IMF, emphasizing the close relations between the IMF and the Maldives. They concluded the meeting in hopes of looking forward to future engagements.
H.E. Kristalina Georgieva is former CEO of the World Bank and served as the Vice President for Budget and Human Resources of the European Commission.