Reserves fall 46% as government pays debts

2 days ago

Government reserves fell sharply at the end of April, dropping by 46 percent as the state continued to settle large external debts. According to Maldives Monetary Authority (MMA) data, official reserves stood at USD 718 million at the end of April, down from USD 1.3 billion the previous month, marking a 46 percent decline. Usable reserves also fell significantly, dropping 40 percent