Maldives Monetary Authority (MMA) – the central bank’s statistics show the state’s usable reserves is currently at USD 73 million; enough for one month’s worth imports.
MMA statistics showed the state’s reserves, at the end of May 2024, stood at USD 485.18 million; out of which USD 73 million remains usable after deductions.
Approximately USD 75 million monthly recurrent expenditure is incurred on necessary imports which include oil, staples, and medications. The drop in the state’s reserves is mainly attributed to the payment of USD 50 million to a USD 100 million bond sold by the State Bank of India (SBI).
