Maldives Lowers 2024 Overall Growth Projection from 5.5% to 4.9%
The nation’s growth outlook will be lower than expected this year, the Ministry of Finance projected in its Macro Economic...
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...
Total State Debt Up; External Debt Down
State debt stood at MVR 126 billion at the end of the first quarter (Q1) this year, the Ministry of...
State Debt Reaches MVR 126 Billion at End of Q1 2024
Total state debt rose to MVR 126 billion as of the end of the first quarter (Q1) of this year,...
IMF Welcomes Maldives’ Key Initial Steps, Advises Swift Implementation of Fiscal Reforms
The International Monetary Fund (IMF) lauded the decision by the Maldives to raise goods and services taxes (GST), saying the...
MATATO Rejects World Bank View, Attributes Tourism Slump to Gap in Marketing of Increasing Beds
The Maldives Association of Travel Agents and Tour Operators (MATATO) has said that the country is not undertaking enough marketing...
World Bank Downgrades Growth Forecast for Maldives
The World Bank has downgraded its 2024 growth forecast for the Maldives as tourists increasingly opt for guesthouse stays over...
Maldives National Debt Balloons to MVR 124 Billion as Year-On-Year Debt Sees Steep Increase
The Maldives is facing mounting fiscal pressures as its national debt soared to MVR 124 billion by the end of...
Maldives’ Economic Crossroads: Fiscal Challenges and Strategic Solutions
The Maldivian economy stands at a crucial juncture, grappling with significant fiscal challenges amidst ambitious developmental aspirations. Amidst rising debt,...
World Bank Urges Maldives to Implement Immediate Fiscal Reforms
The Maldives faces significant economic risks from rising spending, high debt, and external shocks, despite a projected 6.5 percent growth...