MMA to Increase Foreign Exchange Intervention in 2024
The Maldives Monetary Authority (MMA) will increase its foreign exchange intervention this year with a higher supply of US dollars...
Fish Exports Fall Nearly 50% in January
Fish exports fell nearly 50 percent in January, the Maldives Monetary Authority (MMA) said. According to the MMA, fish exports...
Tourism Occupancy Soared in January, MMA Data Shows
Tourism occupancy rate surged to 71.7 percent in January, marking a substantial increase compared to the preceding month, according to...
New SDF Bill Proposes Governance Council, Legal Mechanisms to Regulate Use
A newly proposed Sovereign Development Fund (SDF) Bill sent to Parliament stipulates that funds from the SDF can only be...
Former MP Alhan Fahmy Ordered to Pay Over MVR 1 Million to Victims of Ponzi Scheme
The Civil Court on Wednesday ordered former Member of Parliament (MP) Alhan Fahmy to pay over MVR 1 million to...
IMF Cautions Maldives on Slowdown After Positive Post-Pandemic Growth, Urges Implementation of Proposed Fiscal Reforms
The Maldives’ post pandemic growth has been strong, but recently normalised, with growth in 2024 projected at 5.2 percent even...
Maldives’ Fish Exports Jump 3.5%
The Maldives’ fish exports expanded by 3.5 percent in 2023 compared to the previous year, according to statistics released by...
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...
Loans Outstanding Rise to MVR 40 Billion in December: MMA
Banks and financial institutions have issued MVR 40 billion worth of loans to private businesses and individuals, according to the...
Government Walks Back Decision to Raise Limit for Students Abroad, Acknowledges USD Shortage
The administration’s decision to increase the per month US Dollar (USD) withdrawal limits for students, with Bank of Maldives (BML)...
