STO CEO Appointed Fenaka Chair as Utilities SOE Transitions to Subsidiary
The Chief Executive Officer (CEO) and Managing Director (MD) of the State Trading Organization (STO), Shimad Ibrahim, has been appointed…
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…
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…
Investor Panic Grows Over Potential Maldives Sukuk Default
Investors are increasingly offloading Islamic bonds from the Maldives amid rising fears that the nation could default on its debt,…
Government Directs BML Towards EGM, Seeks Board Member Appointments
Bank of Maldives (BML), at the direction of the Ministry of Finance, will hold an extraordinary general meeting (EGM) in…
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…
Maldives’ Usable Dollar Reserves Depleted for First Time, Sources Say
The Maldives’ usable dollar reserves have reportedly run out for the first time in the nation’s history, according to local…
Maldives Dangerously Low on Useable Reserves, According to MMA Communique
The Maldives would have exhausted its usable reserves by the end August, the Maldives Monetary Authority (MMA) has projected in…
Opposition Slams Muizzu Administration’s Efforts to Keep State Financial Standing Confidential
Finance Minister during the Ibrahim Mohamed Solih administration, Ibrahim Ameer, has slammed attempts by the Mohamed Muizzu administration to keep…
State’s Financials Remain Unpublished Three Weeks Running
The Ministry of Finance has failed to release the Weekly Fiscal Development Report for the past three weeks. The last…
