Maldives Monetary Authority (MMA) reveals on its report, that the total reserve of Maldives holds USD 702 million, while its usable reserve is at USD 152 million.
According to the statistics published by MMA, the usable reserve of Maldives now holds USD 152.6 million. This amount was at USD 200 million during the month of May, 2020.
The total reserve of Maldives during May, contained USD 836.9 million. However, this amount has been decreased to USD 702.4 by the end of June, 2020. This is a 16% fall when compared to the amount in total reserve during May, and a 4% fall when compared to the amount in total reserve during June, 2019.
When reflected on the past 7 years, the total reserve of Maldives has shown a significant fall in the months of November and December in 2016 and in the months of January, May and October in 2017. The greatest fall among this, was in November 2016, with the total reserve amounting to USD 343.50 million.
As claimed by MMA, the reserve of Maldives has been highly affected by the COVID-19 pandemic. The statistics of the authority reveal that the usable reserve of Maldives has shown a significant fall in 2014. During the mentioned year, the reserve of Maldives has fallen by USD 150 million.
In the past 7 years, the usable reserve of Maldives showed a significant fall in 2018 during September, October and November. In 2018, the usable reserve as fallen to USD 162.9 million.
Statistics reveal that this year could have a significant impact on the total and usable reserve of the Maldives as a cause of COVOD-19 and the global economic downturns.