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...
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...
Government to Provide Concessions, Assistance to Long-Undeveloped Resort Projects: Minister Faisal
The administration will provide concessions to those who will forfeit islands leased for tourism development where no work has been...
MMA Forecasts 2024 Growth at 4.9%
The Maldives’ economy is projected to grow 4.9 percent this year, following a 4 percent growth in GDP in 2023,...
Central Bank Projects National Reserves to Rise to US$605.7 Million by End of 2024
The Maldives Monetary Authority (MMA), in its latest Quarterly Economic Bulletin, has projected an optimistic outlook for the nation’s economy,...
Government Seeks MVR 2 Billion Through Treasury Bill Issue
The Ministry of Finance has issued Treasury Bills (T-bills) amounting to MVR 2 billion to cover government expenditure. The T-bills...
BCC, IORA Discuss Trade and MSME Opportunities in Indian Ocean Region
The Business Centre Corporation (BCC) has initiated discussions with business and commerce sector stakeholders from member states of the Indian...
Initiating Fiscal Reforms Essential to Maldives’ Sustained Economic Growth: World Bank
The World Bank has called for the urgent implementation of the Maldive’s planned financial reforms, saying such action is essential...
Maldives’ Fish Exports Decline 48% in Q1
The Maldives’ fish exports fell 48 percent in the first quarter (Q1) this year compared to the same period last...
Maldives Experiences Change in Tourism Dynamics Amid Regional Diplomatic Tensions
The Maldives has observed a significant transformation in its tourism sector, with changes in source markets for visitors amidst evolving...
