A digest of news and opinion from the Maldives.
According to Maldives Monetary Authority (MMA), the national reserve of Maldives will record an increase by the end of the year. The central bank forecasts the national reserve value to be at USD 480.1 million by the end of 2017 and USD 593.6 million by the end of 2018. In a press release issued by MMA […]
Ongoing construction of Dharumavantha Hospital, the new 25-storey state hospital being developed in Male. Maldives Monetary Authority (MMA) revealed that US Dollar reserves dropped in the third quarter of this year after the central bank settled payments for the development of the new state hospital in capital Male. According to the central’s bank economic bulletin […]
The Maldives’ foreign currency reserve declined during the third quarter of 2017 due to loan repayments and expenditure related to the development of a new hospital in Malé. Usable reserves amounted to US$191 million during the quarter, enough for about a month of imports, according to a quarterly economic bulletin released by the Maldives Monetary […]
Maldives Inland Revenue Authority (MIRA), records MVR 910.7 million in income for November 2017. This is 7.5 % more compared to the estimated income for the month. With the earnings of November, the total earning of MIRA has reached MVR 13.8 billion so far in 2017. This is a 4.5% increase compared to the earning […]
Aerial view of Maldives Ports Limited (MPL)’s commercial harbour in capital Male. FILE PHOTO/MIHAARU The Maldives government is looking to develop a lab to test the quality of goods imported from China after the recently signed Free Trade Agreement (FTA) between the two countries comes into effect. In the FTA, China has agreed to establish […]
Morning assembly at Ghiyasuddin International School with the low turnout of students amidst the current swine flu epidemic in the Maldives. PHOTO/SOCIAL MEDIA The Audit Report for 2015 uncovered that the Ministry of Education had spent more than MVR 800,000 unlawfully. According to the Audit Report for 2015 signed by Auditor General Hassan Ziyath, the schools and […]
Maldives Inland Revenue Authority (MIRA) headquarters in the capital Male. PHOTO / MIHAARU The state collected MVR 910 million from the Maldives Inland Revenue Authority (MIRA) in November, statistics publicised by the Institute on Monday revealed. While the state’s tax regulatory body acquired a total of MVR 910 million in November, it had collected USD […]
The education ministry violated public finance rules by illegally spending nearly MVR900,000 (US$58,365) and failing to collect MVR8 million owed as loan repayments, according to the ministry’s audit report for 2015. Auditors found that MVR894,414 was spent as payment for services and items purchased for schools without a public announcement as required by the public […]
Students of Arabiyya School pictured with their final report cards. PHOTO: HUSSAIN WAHEED/MIHAARU The education ministry in conjunction with the World Bank are to launch a major project of USD 10 million (MVR 154 million) to improve the quality of higher education and human resources in the Maldives. According to education state minister Dr Abdulla […]