Public Finance Act (Law Number 3/2006) and Audit Act (Law Number 4/2007)

The Maldives fiscal transparency framework rests on two primary statutes: the Public Finance Act (PFA) 3/2006, which governs all PFM including consolidated fund management, budget preparation, capital budgeting, debt management, internal audit, and quarterly reporting; and the Audit Act 4/2007, which establishes the Auditor General's Office (AGO) as the constitutionally independent supreme audit institution. The AG is appointed by the People's Majlis on presidential recommendation (Constitution Arts. 209-210) for a 7-year term, removable only by parliamentary process. The AGO website (audit.gov.mv) is the best-maintained SAI portal in the batch-12 cluster, publishing annual reports, quarterly reports, SOE audit tracking, performance audits, and special audits. Procurement is regulated by the Public Procurement Regulation 2009 (issued under the PFA, not a standalone Act); the MoF 'Awarded Projects' section at finance.gov.mv confirms contract publication in practice. The RTI Act 1/2014 mandates proactive disclosure of budget documents with a 10-working-day response deadline. Maldives is NOT in the IBP Open Budget Survey (confirmed absence — no OBS country results page). Three PEFA assessments exist (2009 public, 2014 non-public draft, 2021 public final); the 2021 assessment is the authoritative reference. No IFI, no parliamentary budget office, no statutory citizens budget requirement — consistent with the small-island-state governance model. The economy is tourism-dependent (upper-middle income; ~0.5M population) with 57.3% gross government debt-to-GDP and critically low reserve coverage, creating ongoing IMF ECF engagement. FY: January 1 - December 31. Currency: MVR.

Transparency Requirements