News economy / reforms Maldives Impact 9.0/10 1 min read

Fitch upgrade validates President Muizzu’s economic reforms, says Minister Zameer

Finance Minister Moosa Zameer credited President Dr. Mohamed Muizzu's fiscal reforms for Fitch Ratings' upgrade of the Maldives' sovereign credit rating from CC to CCC-. Zameer posted on X that the upgrade reflects improved economic conditions following the successful repayment of the USD 500 million sovereign sukuk in April. He also clarified that the proposed USD 300 million sukuk by Bank of Maldives, backed by a government guarantee, is not for government spending but to stimulate tourism-led growth in northern and southern regions.

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Jun 4, 2026

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Finance Minister Moosa Zameer credited President Dr. Mohamed Muizzu's fiscal reforms for Fitch Ratings' upgrade of the Maldives' sovereign credit rating from CC to CCC-. Zameer posted on X that the upgrade reflects improved economic conditions following the successful repayment of the USD 500 million sovereign sukuk in April. He also clarified that the proposed USD 300 million sukuk by Bank of Maldives, backed by a government guarantee, is not for government spending but to stimulate tourism-led growth in northern and southern regions.

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Focus: Fitch upgrade validates President Muizzu’s economic reforms, says Minister Zameer

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