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International Monetary Fund
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Economy
Maldives' official reserves stand at USD 547.8 million in September
Maldives Monetary Authority figures show official reserves at USD 547.8 million at the end of September 2026, with usable reserves of USD 169.8 million after accounting for USD 527 million in short-term obligations. The government has introduced foreign currency conversion requirements for tourism establishments and other foreign currency-earning businesses, which the article links to a recent Moody's upgrade of the sovereign credit rating.
Economy
GST Amendment Seeks to Tax Foreign Tourism Sales: What the Destination Principle Means for the Maldives
A GST amendment introducing the destination principle was submitted to the People's Majlis on 15 August 2026 by Kulhudhuffushi North MP Mohamed Dawood and, if passed, would take effect on 1 October 2026, requiring foreign sellers of tourism products and services used in the Maldives to pay GST at 17 percent. MIRA estimates the change would raise just over MVR 1.6 billion a year, mostly from foreign tour operators, with much of it arriving in foreign currency.
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