Author: Mohamed Reehaan

The Maldivian state owed the market about MVR 97 billion through securities alone. That is not the foreign loans from India or China that fill the headlines. That is money the government borrowed inside the country: from banks, from the pension fund, from state companies, on paper, at interest, under contracts almost no citizen has ever read. Two months earlier, the country came within touching distance of an unwanted record. In April 2026, the Maldives faced a USD 500 million sovereign sukuk repayment. Traders openly feared it would become the first country in history to default on Islamic government debt.…

Three newly appointed ambassadors have called on Foreign Minister Iruthisam Adam. Each envoy met the Minister after presenting credentials to President Dr. Mohamed Muizzu. The visits covered France, the Netherlands, and the Philippines. The series of Maldives foreign minister courtesy calls signalled fresh diplomatic momentum. France looks to deepen ties France’s Non-Resident Ambassador, Rémi Lambert, met the Minister first. Iruthisham welcomed Lambert and congratulated him on presenting his credentials. The Ambassador thanked the government for its warm reception. Both sides reviewed the long history between the two countries. They discussed ways to widen cooperation in areas of shared interest. The…

Visit Maldives Corporation has reported its strongest self-generated income in eight years. The corporation announced the result at its Annual General Meeting. Shareholders reviewed and approved the Annual Report and audited financial statements for the year ended 31 December 2025. The corporation earned USD 2.11 million in self-generated income last year. That figure marks the highest annual total in eight years. VMS raised the money through membership contributions, international trade fairs, roadshows, publications, and other commercial work. The mix points to wider stakeholder engagement and a more diverse revenue base. A record year for tourism The AGM framed 2025 as…

The Maldives drew 951,167 tourists by 8 June 2026. Total visitor arrivals, including business travelers and cruise passengers, hit 974,043. That figure marks a 4.8% drop against the same point in 2025. The Ministry of Tourism released the numbers in its daily update on 9 June. The country had welcomed 1,023,591 visitors by this date last year. The 2025 calendar closed at 2,275,088 visitors. A bumpy first half The year opened strongly. January arrivals rose 5.0%. February surged 15.7% over the prior year. Then momentum reversed. March fell 20.7%. April dropped a steeper 24.4%. May recovered slightly, gaining 1.7%. The…

The Ministry of Environment has published the Maldives single-use plastics regulation. The rules target the import, production, and sale of banned plastic items. Anyone who breaks them can face fines of up to MVR 100,000. The regulation takes effect this September. Thirteen items face a phased ban The regulation bans 13 specific items in stages. A 2022 Presidential Decree first named these products. The Environmental Regulatory Authority will enforce the rules. The authority can fine anyone who imports, or produces the listed goods. The banned items include: Single-use plastic straws, plates, spoons, knives, forks, and beverage stirrers Styrofoam boxes Supari…

The Maldives Food and Drug Authority (MFDA) has confirmed that the government has started work on a modern National Food Safety Laboratory. The project will give the country a fully equipped facility to test imported food quickly and in detail. Deputy Minister of Health, Family and Welfare Ismail Zahir shared the news on the PSM News programme Raajje Miadhu. He said the feasibility report for the Hulhumalé site is complete. Architects are now preparing the drawings. “We expect to announce the final project details in the last quarter of this year,” he said. A donor-funded programme will finance the build.…

The Housing Development Corporation (HDC) and the Maldives Institute of Technology (MIT) have launched a joint programme to empower women through technical training. The initiative, titled “Vilunveri Kanbalun”, aims to boost women’s self-confidence. It teaches them basic technical skills so they can rely less on others. This year, 264 people applied for the programme. HDC says every applicant has been given a place. The training runs in separate batches and began on 5 June. The programme has grown since its 2023 pilot. This year’s training covers more ground. Participants will learn to repair household electrical appliances. They will also learn…

Maldives Industrial Fisheries Company (MIFCO) CEO and Managing Director Mohamed Anas has wrapped up a two-day visit to Thinadhoo in Huvadhoo Atoll. He met local fishermen to assess their needs and strengthen the company’s support across the region. Anas toured several MIFCO facilities around the country before reaching Thinadhoo. There, he met fishermen at the harbour area and the fishermen’s square. The meetings gave fishing communities an open platform to raise the difficulties they face in their daily work. Anas also inspected the Thinadhoo Fisheries Complex project, which is nearing completion. Once it opens, the facility should ease the hardships…

President Dr. Mohamed Muizzu says the Maldives National Service (MNS) Programme remains a key government policy for youth development. The programme launched on 1 October last year. Since then, more than 680 youths have completed the training across two batches. The third batch has now left for its initial training. The 352 participants will train at the Maldives National Defence Force (MNDF) Composite Training Center in Maafilaafushi, Lhaviyani Atoll. They applied during the second recruitment phase, which drew 1,785 applicants. The cohort includes 64 women and 288 men. They come from 115 islands across 20 atolls. Muizzu shared the message…

The State Pharmaceutical and Medical Supply Corporation (State Pharma) Limited is poised to execute a major operational expansion on July 1. State Pharma will be officially absorbing the nationwide retail network currently managed by the State Trading Organization (STO). This transition marks a critical step in the government’s strategy to stabilize the national medical supply chain and mitigate persistent pharmaceutical shortages in the Maldives. Operational Expansion and Scale Under the new management framework, State Pharma will assume control of 193 existing STO retail locations. Coupled with the launch of a new flagship pharmacy at the Indira Gandhi Memorial Hospital (IGMH),…