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Nasheed Warns of Record Dollar Surge as Central Bank Decides to Print MVR 15 Billion
Former President Mohamed Nasheed criticised the Maldives Monetary Authority's decision to issue nearly MVR 15 billion to buy 20 hectares of land in Hulhumalé's Urban Isle, warning it could push the dollar exchange rate above MVR 24 and fuel inflation. The MMA has made no formal statement, and the government has not commented despite President Muizzu's earlier pledge not to print money.
Sources1carried itMR1 of 19 news outlets we monitor
Figures3as written, with their sentences
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
The MMA, the country's central bank, purchasing real estate under the guise of developing a financial centre is not only highly irregular but also a significant departure from the government's pledges to implement fiscal consolidation meas…
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Figures in these reports
as written, with the sentence they come from
MVR 15 billionAmount of MVR the MMA decided to print/issueMaldives RepublicMultiple sources have confirmed that the MMA board has approved issuing MVR 15 billion to finance the purchase of 20 hectares of land in Hulhumalé's Urban Isle.
Word for word from the report in Maldives Republic. Open the report
20 hectaresLand area to be purchased in Hulhumalé's Urban IsleMaldives RepublicMultiple sources have confirmed that the MMA board has approved issuing MVR 15 billion to finance the purchase of 20 hectares of land in Hulhumalé's Urban Isle.
Word for word from the report in Maldives Republic. Open the report
MVR 24Warning threshold for US dollar exchange rate / black market dollar rateMaldives RepublicAnalysts caution that the increased money supply could lead to a sharp devaluation of the Maldivian Rufiyaa, potentially pushing the black market dollar rate beyond MVR 24 for the first time.
Word for word from the report in Maldives Republic. Open the report
Other events named
no clear day, as worded
The MMA board approved issuing MVR 15 billion to finance the purchase of 20 hectares of land in Hulhumalé's Urban Isle.Hulhumalé's Urban IsleMaldives RepublicMultiple sources have confirmed that the MMA board has approved issuing MVR 15 billion to finance the purchase of 20 hectares of land in Hulhumalé's Urban Isle.
Word for word from the report in Maldives Republic. Open the report
An emergency Economic Council meeting was held, though its agenda was not disclosed by the government.on an official holidayMaldives RepublicThe decision follows an emergency Economic Council meeting held on an official holiday, though the government has not disclosed its agenda.
Word for word from the report in Maldives Republic. Open the report
