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...
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,...
BCC Engages International Consultant for Feasibility Study on Addu City Garment Factory
The Business Center Corporation (BCC) has revealed the engagement of an international consultant to conduct feasibility studies for the proposed...
STO Proposes MVR 80 per Share Dividend for 2023, Highest in 17 Years
The State Trading Organization (STO) has announced plans to propose a dividend of MVR 80 per share for 2023 at...
