Central Bank Projects National Reserves to Rise to US$605.7 Million by End of 2024

The Maldives Monetary Authority (MMA) projects official reserves to rise to US$605.7 million by end of 2024, up from US$590.5 million at end of 2023. Q1 2024 reserves dropped 29% to US$541.8 million due to repayment of a US$100 million loan from State Bank of India. MMA remains optimistic citing tourism sector growth. Increased deposits to Sovereign Development Fund (SDF) over past six months indicate improving economic stability.

The Maldives Monetary Authority (MMA) projects official reserves to rise to US$605.7 million by end of 2024, up from US$590.5 million at end of 2023. Q1 2024 reserves dropped 29% to US$541.8 million due to repayment of a US$100 million loan from State Bank of India. MMA remains optimistic citing tourism sector growth. Increased deposits to Sovereign Development Fund (SDF) over past six months indicate improving economic stability.

The Maldives Monetary Authority (MMA) projects official reserves to rise to US$605.7 million by end of 2024, up from US$590.5 million at end of 2023. Q1 2024 reserves dropped 29% to US$541.8 million due to repayment of a US$100 million loan from State Bank of India. MMA remains optimistic citing tourism sector growth. Increased deposits to Sovereign Development Fund (SDF) over past six months indicate improving economic stability.

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