Maldives Monetary Authority
6 articles
BusinessGross reserves decline, usable reserves see improvement
The Maldives' usable reserves rose to $252.5 million in May despite a decline in gross reserves to $704.7 million. This growth was driven by reduced short-term debt, even as dollar revenue fell below $100 million due to slowing tourism. The recovery follows a dip from a previous sukuk repayment.
ReportIs BML's 'CCC-' rating a win?
Fitch Ratings assigned Bank of Maldives a 'CCC-' rating, reflecting a stable outlook despite significant economic risks. While the bank remains highly profitable, its rating is constrained by the Maldivian government's financial position and a critical shortage of US dollars, highlighting the bank's vulnerability to national instability.
