Economy

Economy | 1 week ago | neutral

MIB partners Autosphere; Maldives economic gains reported

Maldives Islamic Bank (MIB) signed an exclusive financing partnership with Autosphere by The Hawks on May 31, 2026, offering Shari'ah-compliant vehicle financing via Ujaalaa. In early June 2026, RajjeViyu reported a series of positive economic developments including MIFCO reforms, resolution of Colombo Port cargo disruptions, a Fitch credit rating upgrade, and a surge in Chinese tourist arrivals.

RajjeViyu

Economy | 1 week ago | optimistic

Maldives Tourism and Economy Show Resilience

Maldives sees a 26% jump in Chinese tourist arrivals, reclaiming top source market status. The Sovereign Development Fund revenue rises 18%, and Fitch upgrades the country's credit rating to 'CCC-', reflecting improved economic outlook.

RajjeViyu

Economy | 1 week ago | positive

Maldives sees credit upgrade, tourism surge, port relief

Maldives is experiencing multiple positive economic developments: Fitch Ratings upgraded the country's credit rating from 'CC' to 'CCC-', Chinese tourist arrivals surged 26% reclaiming top source market status, and Colombo Port disruptions that stranded 4,200 containers have been resolved. State-owned MIFCO is also undergoing a major transformation under new CEO Mohamed Anas.

RajjeViyu

Economy | 1 week ago | concerned

Maldives hikes TGST, blames debt for downgrade amid dollar crunch

The Maldives Inland Revenue Authority (MIRA) raised the Tourism Goods and Services Tax (TGST) from 16% to 17%, effective July 1, 2025. The government attributes the country's credit rating downgrade to inherited debt rather than COVID-19 spending, while a deepening US dollar shortage prompts India to extend a INR 30 billion currency swap facility.

RajjeViyu

Economy | 1 week ago | concerned

Maldives tourism: arrivals mixed, community model launched

Tourist arrivals to the Maldives in 2026 show a slight year-on-year decline, with a recovery in May after sharp drops in March and April. The Ministry of Tourism and UNFPA have partnered to introduce a community tourism empowerment model, with a pilot in four Baa Atoll islands.

RajjeViyu

Economy | 1 week ago | optimistic

MPL confirms Colombo cargo disruptions resolved

Maldives Ports Limited (MPL) announced that shipping disruptions from Colombo Port have been resolved. Approximately 4,200 containers were stranded earlier in 2026 due to congestion at Colombo Port, triggered by delays at Malé Commercial Harbour. The government, including Minister Mohamed Saeed, worked with stakeholders to expedite cargo movement.

RajjeViyu

Economy | 1 week ago | concerned

Maldives dollar crunch deepens; India extends INR 30 bn swap

Maldives is grappling with a US dollar shortage, as Bank of Maldives sold USD 345 million in five months, USD 69 million more than purchases. Expatriate workers remitted USD 660.8 million in 2025, a major outflow. India has extended a INR 30 billion currency swap facility, and the government stresses fiscal discipline after a Fitch rating upgrade.

RajjeViyu