Official reserve likely to increase to $400 million: New MMA Governor

New Governor of Maldives Monetary Authority (MMA) Dr Azeema Adam has said that the country’s official reserve is likely to increase to $400 million.

Dr Azeema said this in her first interview after assuming office as Governor.

“The official reserve is likely to increase, as a result of the increase in income from tourism,” she said.

The official reserve was $386 million at the end of last year.

Dr Azeema said that efforts are ongoing to find ways to increase the reserve, such as increasing foreign investment.

She further said that the economy is estimated to grow by 4.5 percent this year, and since world prices are likely to increase, local inflation rate will remain unchanged compared with last year.