Maldives Appoints Centerview as Debt Adviser Amid Financial Worries

Maldives appointed Centerview Partners as debt adviser to address a financial crisis. The country's public debt stood at US$8.2 billion (118% of GDP) in the first quarter of the year. Usable foreign reserves were exhausted in August, leading to credit downgrades by Fitch and Moody's. India rolled over a US$50 million payment due in September 2024 to 2025. Additionally, the Reserve Bank of India agreed to currency swap lines of US$400 million and INR 30 billion through the Maldives Monetary Authority, valid until June 2027.

Maldives appointed Centerview Partners as debt adviser to address a financial crisis. The country's public debt stood at US$8.2 billion (118% of GDP) in the first quarter of the year. Usable foreign reserves were exhausted in August, leading to credit downgrades by Fitch and Moody's. India rolled over a US$50 million payment due in September 2024 to 2025. Additionally, the Reserve Bank of India agreed to currency swap lines of US$400 million and INR 30 billion through the Maldives Monetary Authority, valid until June 2027.

Maldives appointed Centerview Partners as debt adviser to address a financial crisis. The country's public debt stood at US$8.2 billion (118% of GDP) in the first quarter of the year. Usable foreign reserves were exhausted in August, leading to credit downgrades by Fitch and Moody's. India rolled over a US$50 million payment due in September 2024 to 2025. Additionally, the Reserve Bank of India agreed to currency swap lines of US$400 million and INR 30 billion through the Maldives Monetary Authority, valid until June 2027.

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