The Maldives Monetary Authority’s (MMA) Statement of Financial Position for April 2025 reveals a monthly increase in total assets, which rose to MVR 30.97 billion, up from MVR 30.09 billion in March. This growth is largely attributable to a notable rise in foreign currency financial assets and inventory holdings.
Foreign currency assets reached MVR 15.75 billion, an increase of nearly MVR 904 million compared to the previous month. The most significant contribution came from a rise in cash and balances with banks, which expanded by over MVR 800 million, and a MVR 98 million boost in investments in securities.
Meanwhile, local currency financial assets slightly declined to MVR 14.38 billion, down from MVR 14.40 billion in March. This drop is primarily due to a marginal reduction in the MMA’s holdings of government treasury bonds and T-bills.
The central bank’s liabilities also saw a substantial increase, totalling MVR 29.36 billion in April compared to MVR 28.53 billion the previous month. A major component of this shift was the MVR 472 million surge in payables to the Asian Clearing Union (ACU), which jumped to MVR 917.7 million. Foreign currency liabilities overall stood at MVR 13.58 billion, while local currency liabilities reached MVR 15.77 billion.
Despite rising liabilities, the Authority’s equity position improved. Total equity climbed to MVR 1.61 billion, up from MVR 1.56 billion in March. This gain was reflected in the increase in reserves, suggesting retained earnings or revaluation gains were added to the MMA’s capital base.
The value of currency in circulation dipped slightly from MVR 4.42 billion to MVR 4.37 billion, possibly indicating a minor contraction in cash-based transactions or adjustments in banking reserves. On the non-financial assets side, inventories increased from MVR 58.7 million to MVR 64.6 million, likely reflecting newly printed currency or coinage not yet issued.
The MMA’s report provides insight into the country’s monetary framework, with increased reserves indicating stronger capacity to manage external shocks. However, the growing obligation to the ACU highlights ongoing trade settlement pressures that could affect liquidity if not carefully managed.
