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ReportWho is watching our dollars? A question for the regulator
Bank of Maldives customers face severe dollar shortages and withdrawal limits, raising concerns about the bank's liquidity. While the bank cites unsustainable outflows, the public is questioning the Maldives Monetary Authority’s silence. As a regulator, the MMA is expected to provide transparency and ensure the banking system remains stable.
BusinessExperts blame policy failures and severed foreign funding
Experts attribute the Maldives' worsening dollar crisis to failed government policies and a loss of foreign funding. Former official Ahmed Saruvash Adam warned that poor foreign relations and a lack of economic reform have severed access to international aid, forcing the state to deplete its reserves to service debt.