The Maldives Monetary Authority urged the government to urgently implement fiscal and economic reforms, warning that pressure on the rufiyaa stems from years of debt monetisation and excessive spending. The central bank said excess liquidity stood at MVR 7 billion as of June and announced it had resumed open market operations, withdrawing MVR 2.1 billion on 23 July.
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 also announced that it had resumed open market operations for the first time in years. On 23 July, the central bank withdrew MVR 2.1 billion through a reverse repurchase operation.
Word for word from the report in Maldives Republic. Open the report
Printing of money during the pandemic has significantly increased the amount of rufiyaa in the banking system
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
According to the MMA, this figure stood at MVR 7 billion as of June this year, which is a 178 percent increase compared to 2020.
Word for word from the report in Maldives Republic. Open the report
According to the MMA, this figure stood at MVR 7 billion as of June this year, which is a 178 percent increase compared to 2020.
Word for word from the report in Maldives Republic. Open the report
On 23 July, the central bank withdrew MVR 2.1 billion through a reverse repurchase operation.
Word for word from the report in Maldives Republic. Open the report