Useable Reserves Drop to Lowest in 12 Months
The Maldives’ usable reserves fell by US$40 million over last month to US$73 million, the Maldives Monetary Authority’s most recent...
Inflation Rises in May; SDF Accumulates MVR 519 Million
Inflation rose in May, data released by the Maldives Bureau of Statistics (MBS) has revealed. Prices of goods and services...
Decline in Indian Tourists Resulted in Over MVR 2 Billion in ‘Lost’ Revenue: Opposition
The words and policies of President Mohamed Muizzu, and some key deputy ministers, have caused losses of MVR 2.3 billion...
Opposition Attributes Economic Slump to Government Incompetence
The current administration has not been able to manage the fiscal challenges faced by the Maldives despite having been made...
President Muizzu in Opposition Crosshairs Over Economic ‘Bitter Pill’
The Maldivian Democratic Party (MDP) Chairperson, Fayyaz Ismail, pointing to words by the administration-aligned Deputy Speaker of Parliament, Ahmed Nazim,...
Maldives Records Sharpest Decline in Reserves Over Past 12 Months
The Maldives’ reserves fell 21 percent, from US$622.1 million in May to US$492.2 million in July, statistics released by the...
More Tax Hikes Coming: Government’s 2024 Medium Term Revenue Strategy
The Ministry of Finance will seek to increase the GST, green tax and telecom fees as well as import duties...
Fitch Downgrades Maldives’ Rating From B- to CCC+ Citing Worsening External Financing
Fitch Ratings has downgraded the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘B-‘. An IDR is an...
Saudi Fund Loans Provoke Fierce Debate at Parliament Committee
The current administration has taken out two loans totalling SAR 562.5 million (approximately US$150 million), earmarked for the development of...
Maldives, China Discuss Further Strengthening Trade Ties
Minister of Economic Development and Trade Mohamed Saeed, on his current visit to China to attend the World Economic Forum,...
