Dollar-starved Maldives notifies new foreign currency rules

Dollar-starved Maldives notifies new foreign currency rules

Male: Dollar-starved Maldives has floated a new foreign currency regulation, limiting types of transactions allowed in foreign currency and imposing mandatory foreign currency exchange controls on tourism establishments and banks. Maldivian economy appears to have taken a hit after calls to Indian tourists to avoid the picturesque island nation as a response to President Mohamed … Read more

Amid grim forecast, Maldives says it is “well prepared” to avert default 

Amid grim forecast, Maldives says it is “well prepared” to avert default 

A file photo of the flag of Republic of Maldives. Despite global lenders and rating agencies flagging a “high risk” of debt distress in the Maldives, the government said it is well prepared to stave off a financial meltdown. Addressing Colombo-based journalists on Friday evening (September 13, 2024), Minister of Foreign Affairs Moosa Zameer and … Read more