The Maldives' government reserves increased to $444 million by the end of August, according to data from the Monetary Authority of Maldives (MMA). This marks a 12 percent rise from the $395 million reported at the end of July.
Usable reserves also saw significant growth, reaching $61.22 million in August, up from $45 million in July—a 26 percent increase. The MMA attributes this improvement to robust economic growth driven by tourism and other key sectors, bolstered by sustainable economic strategies and strategic reforms.
The MMA projects that official reserves, including usable reserves and sovereign development funds, will surpass the 2024 budget estimate of $606 million by the end of the year. Despite ongoing financial challenges, the MMA remains confident that collaborative efforts between the Ministry of Finance, relevant government departments, and financial institutions will yield positive results.
Usable reserves also saw significant growth, reaching $61.22 million in August, up from $45 million in July—a 26 percent increase. The MMA attributes this improvement to robust economic growth driven by tourism and other key sectors, bolstered by sustainable economic strategies and strategic reforms.
The MMA projects that official reserves, including usable reserves and sovereign development funds, will surpass the 2024 budget estimate of $606 million by the end of the year. Despite ongoing financial challenges, the MMA remains confident that collaborative efforts between the Ministry of Finance, relevant government departments, and financial institutions will yield positive results.
