Domestic Debt Increased More Than MVR 11 Billion Over Past Year
The Mohamed Muizzu administration has borrowed more than MVR 11 billion from the domestic market to cover its expenditure over...
Maldives’ Exports Decline Nearly Eight Percent
The Maldives’ exports declined by 7.7 percent between January and November this year compared to the same period in 2023,...
Moody’s Confirms Maldives’ Caa2 Negative Outlook Rating
Moody’s Ratings (Moody’s), on Tuesday, confirmed the Maldives’ long-term local and foreign currency issuer ratings at Caa2 with a negative...
Maldives No Longer at Risk of Sovereign Default: Finance Minister
The Mohamed Muizzu administration’s efforts over the past year to reduce expenditure and extend repayment periods on foreign loans have...
Maldives’ Spending Exceeds MVR 40 Billion
The state, as of 7 November, has spent MVR 41.59 billion of the National Budget 2024, including for expenditure on...
Maldives Opts to Refinance Exim Bank of China’s VIA Development Loan
The Mohamed Muizzu administration has opted to refinance US$75 million (approximately MVR 1.2 billion) of the US$378 million (approximately MVR...
Maldives Appoints Centerview as Debt Adviser Amid Financial Worries
The government of Maldives has appointed Centerview Partners, a US-based firm, to assist the nation through its current financial crisis,...
Word Bank Concerned as Government Fails to Update Weekly Fiscal Developments
The World Bank has expressed concern over the Ministry of Finance’s failure to publish the state’s Weekly Fiscal Development reports....
Foreign Reserves Decline in September, Expected to Improve Going Forward
After an increase in foreign exchange reserves at the end of August, both gross reserves and usable reserves declined in...
Maldives, India Sign US$400 Million Currency Swap Agreement
The Maldives and India entered into a US$400 million currency swap agreement on Monday as both countries seek to revive...
