Finance Ministry’s Delayed Reports Show Increased Recurrent Expenditure for 2024
The Ministry of Finance has released previously held back Weekly Fiscal Development reports since publications were halted on 20 June....
MMA Governor Munawar Calls for Changes in Global Framework to Reflect Debt Realities Faced by Small Island States
Governor of the Maldives Monetary Authority(MMA), Ahmed Munawar, speaking as chair of the International Monetary Fund (IMF) and World Bank...
Government Proposes MVR 5.1 Billion Supplementary Budget
The Ministry of Finance on Thursday submitted a MVR 5.1 billion supplementary budget for parliamentary consideration. The submission looks to...
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...
BML Names Mohamed Shareef as New CEO, First Maldivian to Lead the Bank
Bank of Maldives (BML) has appointed Mohamed Shareef as its new Chief Executive Officer (CEO), making him the first Maldivian...
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,...
Government Reportedly Utilised ‘Significant’ Portion of SDF Funds
The Mohamed Muizzu administration has utilised a significant portion of deposits in the Sovereign Development Fund (SDF), local media sources...
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...
