Iran War
3 articles
BusinessGovt takes USD 80 million in loans for fuel imports and harbors
The Maldivian government secured $80 million in loans from the OPEC Fund and the World Bank to finance harbor development and fuel imports. These funds aim to mitigate energy market volatility and support critical services. While external borrowing remains controlled, rising national debt and high servicing costs present ongoing challenges.
BusinessSubsidy spending doubles with budget nearing exhaustion
Subsidy spending has doubled due to rising energy prices, with MVR 2.2 billion already spent. At the current rate, the annual budget will be exhausted within a month, potentially requiring billions in additional funding. Despite the crisis, the government has yet to implement a targeted subsidy system to manage costs.
