The Maldives’ official reserves have increased to $444 million by the end of August.
According to data from the Maldives Monetary Authority (MMA), this is a $49 million rise compared to July, when the reserves had $395 million.
In addition to official reserves, usable reserves have also seen an increase. While usable reserves stood at $43 million at the end of July, they increased to $61 million at the end of August.
Despite this positive growth, the current usable reserves are only sufficient to cover one month’s worth of imports.
Last Friday, Finance Minister Dr. Mohamed Shafeeq in an interview with AVAS stated that the increase in revenue is expected to further boost reserves. He also acknowledged the ongoing challenge of repaying the nation’s debt, including a significant sukuk payment due in 2026, but expressed confidence that these financial obligations would be met.
