A digest of news and opinion from the Maldives.
Maldives Monetary Authority (MMA) has released its yearly reports, and the currency circulation of both notes and coins in the economy has seen an increase. MMA yearly reports show that last year MVR 3.5 billion notes circulated in the economy. This is an increase of 3% in the note currency circulation in the economy compared […]
Maldives Monetary Authority (MMA) has announced that banks will be open for service on 19th and 20th April. The government has implemented a 14-day lockdown in the Greater Male’ area due to the spread of COVID-19. MMA has stated even though there is a lockdown, banks will be open on 19th and 20th April to […]
The most recent statistics from the Maldives central bank reveals the international reserves and the usable reserves of the island nation had decreased in February 2020. Maldives Monetary Authority (MMA) revealed in their latest statistical report the island nation’s usable reserve was recorded at USD277.7 million by the end of review month while in January, […]
The rapid spread of the COVID-19 pandemic is expected to sharply reduce the GDP growth of Maldives for 2020, due to its adverse effect on the tourism and other sectors of the economy. The MMA stands ready to implement the various policy instruments and measures at its disposal, in order to mitigate the impact of […]
Profit earned by banks in the Maldives increased by 14% during the third quarter of 2017. According to Maldives Monetary Authority (MMA), by the end of last quarter, a 14% increase in bank profits was recorded. The main reasons cited by the central bank are pending repayments collected for loans and growth in overall income […]
The Maldives central bank has warned of dwindling national reserves as the rate of foreign borrowing increases. Governor Ahmed Naseer of the Maldives Monetary Authority (MMA) sounded the alarm in a statement sent to the parliamentary budget review committee, which met Monday. The committee cancelled two hearings they had scheduled with him and the auditor […]
Statistics published by Maldives Monetary Authority (MMA) have revealed that revenue generated from fish exports during June month totaled to $10.5 Million. The “Economic Review” by MMA, the Central Bank of Maldives stated that the quantity of fish exports also increased to 5.8 metric tons in June month, which is a massive increase compared to […]
The Assistant Governor of Maldives Monetary Authority (MMA), Idham Hussain has been appointed as a board member to the seven-member board of the authority by the President of Maldives, Abdulla Yameen Abdul Gayyoom on Thursday. Idham has been serving as the Assistant Governor of Monetary Policy, Research and Statistics from June 2016 onwards. She was […]