Maldives, China Sign Currency Swap Agreement to Boost Trade
The Maldives and China have signed a memorandum of understanding (MoU) to exchange bilateral currencies, a move aimed at facilitating...
Maldives Amends Tax Rules to Mandate Dollar Payments for Foreign Currency Earners
The Maldives Inland Revenue Authority (MIRA) has announced amendments to the Income Tax Rules, requiring individuals and companies earning in...
Government Falls Back on Fiscal Reform Talking Points Amid Moody’s Ratings Downgrade
The Ministry of Finance once again reverted to talking points on fiscal reforms, despite Moody’s downgrading the Maldives’ credit rating...
MMA Reassures on Debt Repayment After Moody’s Downgrade
The Maldives Monetary Authority (MMA) has issued a statement following Moody’s downgrade of the country’s credit rating to CAA-2, assuring...
BML CEO Resigns Amid Allegations of Financial Coup
Karl Stumke, Managing Director and CEO of the Bank of Maldives (BML), has stepped down amid accusations that the bank’s...
Maldives Will Not Default on Sukuk: Finance Minister
The Maldives will not default on the US$25 million coupon payment for the Sukuk, Minister of Finance Mohamed Shafeeq has...
US$72 Million Remitted Overseas in 2023: MMA
Remittances amounting to US$72 million (approximately MVR 1.1 billion) were sent overseas in 2023, the Maldives Monetary Authority (MMA) confirmed...
Economy on Steady Upward Trajectory; Reserves to Exceed US$606 Million by Year-End: MMA
The Maldives is taking urgent steps to address the current economic challenges and will be able to maintain an upwards...
Ratings Downgrade Shows Government Incompetence: MDP
Fitch Ratings downgrading the Maldives’ credit rating from CCC+ to CC highlights the administration’s incompetence in managing fiscal policy, the...
GST Act Amendment Aims to Curb Loss of Tourism Revenue: Finance Ministry
The Goods and Services Tax Act (Act Number 10/2011) will be amended starting mid-2025 in order to address ongoing tourism...
