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Moody's
In the news, last 90 days
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 · Press release
Accounting Profession Crucial to Strengthening Public Financial Governance: Finance
Speaking as chief guest at the opening of the Maldives Accountants Forum 2026, Minister of Finance and Public Enterprises Hassan Zareer said the accounting profession is vital to managing public funds responsibly, ensuring transparency and tracking state investments. He highlighted the administration's Home-Grown Fiscal Reform Agenda, noting over USD 1.4 billion of debt settled in 18 months and resulting sovereign credit rating upgrades by Moody's and Fitch Ratings.
Economy
Gov’t Prioritises Shock-Resilient Economy, Says Finance Minister
Minister of Finance and Public Enterprises Hassan Zareer said the government's primary objective is an economy resilient to external financial shocks, speaking at the opening of the Maldives Accountants Forum 2026. He reported that USD 1.4 billion in sovereign debt was settled over the past eighteen months, prompting upgrades to the Maldives' sovereign rating by Fitch Ratings and Moody's.
Economy · Press release
Minister Responds to Public Queries on Nation's Financial Position and Development Projects at 'Ahaa' Forum
Finance Minister Hassan Zareer told the 10th 'Ahaa' Forum that Moody's upgraded the Maldives' credit rating to Caa1, that USD 1.42 billion in debt has been settled and USD 350 million from the Sovereign Development Fund used toward Sukuk settlement this year. He said fuel subsidy spending reached MVR 4.3 billion as of October 8 against a budgeted MVR 2.9 billion, but the government would avoid a supplementary budget and keep the deficit below 10 percent of GDP.
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