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India has approved a rollover of the INR 30 billion swap the Maldives drew in April. Worth about US$311 million, it is close to twice the country's usable reserves. What the decision relieves, what it does not, and the path of Indian support ahead.
By Fathimath Saairaa
Operation Economic Outcast has moved US sanctions from named targets to whole sectors, from principals to service providers, and onto the world’s correspondent banks. How the dollar reaches the Maldives, what the new rules are, and what they mean for a small economy that lives on the dollar
By Fathimath Saairaa
Maldivian public finance carried three structural weaknesses into the 2020s: debt refinanced as single bullet maturities, tourism dollars with no obligation to enter the domestic banking system, and a deficit that could be financed by creating money. All three were left intact through 2018–2023.
By White Tern
