President Dr. Mohamed Muizzu has announced that the Maldives Monetary Authority (MMA) facilitated a record-breaking exchange of $492 million last year, significantly contributing to the national official reserves, which have now reached $1.13 billion. As part of the administration’s strategic efforts to stabilize and strengthen the economy, an agreement has been reached to roll over a $100 million bond from the Abu Dhabi Fund for Development (ADFD) for a period of five years. Additionally, the President confirmed that $100 million in non-tax revenue is expected to be received within the next 45 days. President Muizzu further emphasized that the government remains committed to prudent debt management and the continued fortification of the Sovereign Development Fund (SDF).
