Maldives Monetary Authority (MMA) statistics reveal that Maldives’ gross international reserve increased by 56 percent between November 2020 and December 2020.
The Maldives had accumulated USD 629.9 million in gross international reserves by the end of November 2020. The latest economic update publicized by MMA shows that by the end of December 2020, the Maldives had USD 984.8 million in gross international reserves, which is an increase of 56 percent within a month.
Additionally, the December 2020 gross international reserve figure is a 31 percent increase from the amount in 2019, which was a total of USD 753.5 million.
At the end of 2018 with incumbent President Ibrahim Mohamed Solih’s administration in power, Maldives had USD 712 million in government reserves, of which only USD 281 million were useable.
In 2019, the nation’s gross international reserves increased to USD 753.3 million, of which USD 315.8 were useable reserves. This is the highest the Maldives’ useable reserves have been since the year 2012.