Maldives’ Usable Dollar Reserves Depleted for First Time, Sources Say

The Maldives' usable dollar reserves have reportedly been depleted for the first time, according to local media Adhadhu citing multiple sources. The Monetary Authority of Maldives (MMA) had warned that reserves could run out by end of August. A $25 million oil bill due on Monday was paid on Wednesday, pushing reserves into negative territory. At the end of July, usable reserves stood at $43 million. The government may next tap the Sovereign Development Fund (SDF).

The Maldives' usable dollar reserves have reportedly been depleted for the first time, according to local media Adhadhu citing multiple sources. The Monetary Authority of Maldives (MMA) had warned that reserves could run out by end of August. A $25 million oil bill due on Monday was paid on Wednesday, pushing reserves into negative territory. At the end of July, usable reserves stood at $43 million. The government may next tap the Sovereign Development Fund (SDF).

The Maldives' usable dollar reserves have reportedly been depleted for the first time, according to local media Adhadhu citing multiple sources. The Monetary Authority of Maldives (MMA) had warned that reserves could run out by end of August. A $25 million oil bill due on Monday was paid on Wednesday, pushing reserves into negative territory. At the end of July, usable reserves stood at $43 million. The government may next tap the Sovereign Development Fund (SDF).

This story involves 1 source and may affect public understanding of reserves depletion / dollar.