Debt

Economy in limbo?

3 min read
The International Monetary Fund concluded its 2021 Article IV consultation with the Maldives in October 2021. It noted the 'prompt and comprehensive' policy response of the government to the economic...

Debt un-sustainability analysis

2 min read
The Government estimates total debt (including government guaranteed debt) to reach MVR94 billion by the of 2021, which is 122 percent of GDP. This includes MVR46.7 billion in domestic debt,...

The Ameer Doctrine: Licensed to print

3 min read
On 17 November, the public finance committee of the Maldivian Parliament passed a resolution extending the open credit line to the government from the Maldives Monetary Authority (MMA). Although the...

Maldives' Sukuk reaches USD500 million

4 min read
On 2 September 2021, the Government of Maldives issued another USD200 million Sukuk, or Islamic bond, in addition to the USD300 million issued in March (USD200 million) and April (USD100...

The Ameer Doctrine

3 min read
Minister of Finance Ibrahim Ameer inherited a public finance machinery, based on consistent fiscal deficits year-on-year, despite past finance ministers having been technocrats like him. President Solih was sworn-in on...

Stop the bleeding

4 min read
The Maldives debt as a percentage of Gross Domestic Product (GDP) in 2016 was at 67 percent, increasing to 78 percent in 2019. It was at 149 percent by the...

Drowning in debt

6 min read
In June 2018, Mohamed Nasheed, Speaker of Parliament and former President, accused China of having dragged the Maldives into a debt trap. He was also critical of the government's high...