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Sovereign Development Fund

Maldives central bank says growth steady; reserves to reach $606m

The MMA said the government's medium-term fiscal and debt strategy is expected to improve the country's financial situation.

Audit office concerned over sovereign fund discrepancy

The audit report recommended that the sovereign fund's accounts be validated.

Parliament opens SDF Bill for public comment

Sovereign Fund office will function as an independent and financially segregated office.

Govt backed SDF bill re-introduced to parliament

The purpose of the bill is to give legal authority to the SDF.

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Parliament approves bill authorising minister's control over SDF

In Monday's sitting, 43 members voted in favour of the bill, while only one voted against it.

27 February 2023

Sovereign Fund management botched; balance unsure: Audit Office

The government has proposed some amendments related to the management of sovereign funds in the Finance Act.

5 December 2022

Committee green-light to minister's control over sovereign fund

Parliament's Public Accounts Committee has made some changes to the bill, but it will not change any clause related to the SDF.

21 February 2023

Govt to publicise detailed debt service fund stats

SDF data is now clubbed together with weekly and monthly fiscal reports, with only deposits in the SDF now released.

Debt-service fund sees 61% growth in deposits

Budget estimates total deposits of MVR 871.4 million this year

Maldives records drop in SD fund deposits

The first bill introduced by the government was the Sovereign Fund Bill but it was dropped.

Minister granted control over debt service fund

MMA had been managing the SDF, but all decisions related to deposits and withdrawals are taken by the finance minister and the president.

Sovereign fund deposits see 11% year-over-year hike

This year's budget has estimated MVR 871.4 million to be deposited in the fund.