The IMF has said the current global crisis has hit the economy of Maldives severely and suggested for the strengthening of the banking sector to improve the island nation s financial health. The real GDP of Maldives is expected to fall by four per cent in 2009, Executive Directors of the International Monetary Fund said. The comments from IMF follow the Article IV consultations by the IMF Executive Directors with Maldives on December 4. Executive Directors noted that the Maldivian economy has been severely hit by the global crisis through a fall in tourism inflows, external financing, and exports, the IMF …

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