IMF-马尔代夫：金融部门评估方案关于宏观审慎政策的技术说明（英）-2024.1.docx

MALDIVES

IMFCountryReportNo.24/21

January2024

FINANCIALSECTORASSESSMENTPROGRAMTECHNICALNOTEONMACROPRUDENTIALPOLICY

ThispaperontheMaldiveswaspreparedbyastaffteamoftheInternationalMonetaryFundasbackgrounddocumentationfortheperiodicconsultationwiththemembercountry.ItisbasedontheinformationavailableatthetimeitwascompletedonDecember18,2023.

Copiesofthisreportareavailabletothepublicfrom

InternationalMonetaryFund?PublicationServicesPOBox92780?Washington,D.C.20090Telephone:(202)623-7430?Fax:(202)623-7201

E-mail:publications@imf.orgWeb:

InternationalMonetaryFundWashington,D.C.

?2024InternationalMonetaryFund

December18,2023

MALDIVES

FINANCIALSECTORASSESSMENTPROGRAM

TECHNICALNOTE

MACROPRUDENTIALPOLICY

PreparedBy ThisTechnicalNotewaspreparedbyIMFstaffintheMonetaryandCapitalMarkets contextofajointIMF-WorldBankFinancialSectorDepartment AssessmentProgram(FSAP)missionintheMaldives

duringFebruary18-March2,2023.Itcontains

technicalanalysisanddetailedinformationunderpinningtheFSAP’sfindingsand

recommendations.FurtherinformationontheFSAP

canbefoundat

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INTERNATIONALMONETARYFUND

INTERNATIONALMONETARY

INTERNATIONALMONETARYFUND

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CONTENTS

Glossary 3

EXECUTIVESUMMARY 4

INTRODUCTION 7

INSTITUTIONALFRAMEWORK 8

WillingnesstoAct 8

AbilitytoAct 9

EffectiveCoordinationandCooperation 10

AccountabilityandCommunication 11

Recommendations 11

SYSTEMICRISKMONITORING 13

ExistingIndicators 13

RecommendedAdditionalIndicators 14

MACROPRUDENTIALINSTRUMENTS 18

ExistingInstruments 18

EnvisagedInstruments 19

RecommendedAdditionalInstruments 22

References 25

BOX

LeaseandHirePurchaseProgramsandHouseholdIndebtedness 16

FIGURES

ExistingIndicators 13

Credit-to-GDPGap 15

DSTILevelandProbabilityofDefaultofMortgageLoansinRomania 21

TABLES

RecommendationsonM