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...
IMF Package Not an Option: President Muizzu
President Mohamed Muizzu, in an interview with the BBC, has confirmed that the Maldives will not undertake an International Monetary...
Maldives Tourism Recovers From Setbacks
Ambitious plans mark recovery from COVID and a short-lived Indian boycott Tourism is the single most important source of livelihood...
Shahid Warns New Foreign Exchange Regulations Could Hurt Tourism Industry
Abdulla Shahid, former Foreign Minister and President of the opposition Maldivian Democratic Party (MDP), shared his apprehensions on Wednesday about...
Maldives Prioritises Exchange Reforms, Mandates Fixed USD Exchange for Tourists
The Maldives Monetary Authority (MMA) on Tuesday gazetted new regulations requiring tourism establishments to exchange foreign currency at fixed amounts...
Muizzu Administration Seeks $70 Million Loan From Swiss-Based Vitol Group
The Maldivian government has approached the Vitol Group, a Switzerland-based Dutch multinational energy and commodity trading company, for a $70...
MVR 4 Billion Spent on SOEs as of July
While there are 23 state-owned enterprises (SOEs), MVR 4 billion from the state’s budget had been spent on these companies...
Government Secures MVR 800 Million Loan to Pay Salaries
The government has taken out a loan of MVR 800 million to pay the salaries of public sector employees this...

