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A digest of news and opinion from the Maldives.

foreign currency reserve

Loans and hospital blamed for depleted reserve

Loans and hospital blamed for depleted reserve

By Maldives Times 2 min read

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 […]

Central bank governor troubled by Maldives vulnerability to external shocks

Central bank governor troubled by Maldives vulnerability to external shocks

By Maldives Times 3 min read

The new governor of the central bank has expressed concern with the Maldives’ vulnerability to external shocks, such as oil price hikes and reduced tourist arrivals, due to a depleted foreign currency reserve. “Although the growth rate is likely to exceed expectations in the short term, substantial downside risks continue to cloud the medium-term and […]