Won't default in 2026; stronger economy than ever, Fayyaz says

Maldives has spent MVR 4 billion (USD 260 million) to repay its debt so far this year, according to the finance ministry.

25 August 2023

Tax hike alone not enough, urgent cost cuts needed: World Bank

According to the World Bank, inflation in the Maldives, which is currently at 4%, is expected to rise to 5.7% this year.

7 May 2023

IMF says Maldives on right track to reduce hight debt

"Restructuring debt is not an easy task. But first, the country should decide whether this is the situation. After that, the IMF will continue to help.

23 February 2023

Despite looming cost hikes, subsidy reforms take back seat

Local experts say it was not possible for any government to reform subsidies

8 May 2023

Pres slams opposition for 'blatant lies' on sovereign default

"This country is a rich country. It has a lot of assets. Wherever you go today it is not difficult to borrow 1 billion, 2 billion or 5 billion”.

5 September 2023

Motion seeks enforcement of parliamentary decisions on debt

At the end of last year, the government's debt crossed MVR 100 billion, according to data released by the finance ministry.

13 February 2023

Faction war heats up; Yaugoob removed from parliament

Yaugoob could be heard shouting after he was named and when the chair gave Ilyas a second chance to speak.

22 February 2023

G20 finance chiefs to discuss debt, crypto, inflation

Other items on the agenda include rules on crypto-currencies, reform of multilateral development banks, international taxation and securing adequate finance.

22 February 2023