Reserve Bank of India (RBI)
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NewsReserves are low, will "greatly improve" in six months: Muizzu
President Muizzu announced that while the Maldives' foreign currency reserves are at a yearly low, they are expected to recover within six months. The government is pursuing a $100 million currency swap and increased forex conversions to stabilize the economy. However, significant debt repayments and fuel costs remain ongoing challenges.
News$500 million Indian credit line activates for projects
The RBI has activated a $500 million credit line from India to the Maldives to fund various development projects. The agreement requires that 75% of goods and services be sourced from Indian suppliers. This facility, finalized during President Muizzu’s visit, aims to boost infrastructure and bilateral cooperation.
