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ගවේෂණය කරන්න
විදසුන්
Maldives’ reserves continue to dip
The external reserves of the Maldives have been on a declining trend since June 2020. At that time, the gross reserves held by the Maldives Monetary Authority amounted to USD 702.5 million , sufficient to finance 5.2 months of imports. However, by September 2024, the reserves had fallen to USD 371.2 million, covering only 1.1 months of imports. This situation mirrors what happened in Sri Lanka, which faced its worst economic crisis after its usable external reserves plummeted from USD 6,695 million (6.4 months of imports) in June 2020 to USD 308 million (0.18 months of imports) by April 2022. The rapid decline forced Sri Lanka to default on its external debts due to a shortage of foreign exchange. With assistance from the International Monetary Fund (IMF), Sri Lanka is now undergoing debt restructuring, temporarily halting debt repayments and increasing foreign exchange inflows. While the Maldives' reserves are declining at a slower rate—0.08 months of import coverage lost per month compared to Sri Lanka's 0.25 months per month—the trend is still concerning. At this pace, the Maldives could face a similar crisis within the next 2 years. It is crucial for the Maldives to identify these warning signs early. Proactive measures, such as pre-emptive debt restructuring, can be less harmful than dealing with a disorderly default. Early intervention can help stabilise the economy and avoid the severe consequences as experienced in Sri Lanka.
විදසුන්
Maldives’ reserves continue to dip
The external reserves of the Maldives have been on a declining trend since June 2020. At that time, the gross reserves held by the Maldives Monetary Authority amounted to USD 702.5 million , sufficient to finance 5.2 months of imports. However, by September 2024, the reserves had fallen to USD 371.2 million, covering only 1.1 months of imports. This situation mirrors what happened in Sri Lanka, which faced its worst economic crisis after its usable external reserves plummeted from USD 6,695 million (6.4 months of imports) in June 2020 to USD 308 million (0.18 months of imports) by April 2022. The rapid decline forced Sri Lanka to default on its external debts due to a shortage of foreign exchange. With assistance from the International Monetary Fund (IMF), Sri Lanka is now undergoing debt restructuring, temporarily halting debt repayments and increasing foreign exchange inflows. While the Maldives' reserves are declining at a slower rate—0.08 months of import coverage lost per month compared to Sri Lanka's 0.25 months per month—the trend is still concerning. At this pace, the Maldives could face a similar crisis within the next 2 years. It is crucial for the Maldives to identify these warning signs early. Proactive measures, such as pre-emptive debt restructuring, can be less harmful than dealing with a disorderly default. Early intervention can help stabilise the economy and avoid the severe consequences as experienced in Sri Lanka.
විදසුන්
Maldives’ reserves continue to dip
The external reserves of the Maldives have been on a declining trend since June 2020. At that time, the gross reserves held by the Maldives Monetary Authority amounted to USD 702.5 million , sufficient to finance 5.2 months of imports. However, by September 2024, the reserves had fallen to USD 371.2 million, covering only 1.1 months of imports. This situation mirrors what happened in Sri Lanka, which faced its worst economic crisis after its usable external reserves plummeted from USD 6,695 million (6.4 months of imports) in June 2020 to USD 308 million (0.18 months of imports) by April 2022. The rapid decline forced Sri Lanka to default on its external debts due to a shortage of foreign exchange. With assistance from the International Monetary Fund (IMF), Sri Lanka is now undergoing debt restructuring, temporarily halting debt repayments and increasing foreign exchange inflows. While the Maldives' reserves are declining at a slower rate—0.08 months of import coverage lost per month compared to Sri Lanka's 0.25 months per month—the trend is still concerning. At this pace, the Maldives could face a similar crisis within the next 2 years. It is crucial for the Maldives to identify these warning signs early. Proactive measures, such as pre-emptive debt restructuring, can be less harmful than dealing with a disorderly default. Early intervention can help stabilise the economy and avoid the severe consequences as experienced in Sri Lanka.
විදසුන්
Maldives’ reserves continue to dip
The external reserves of the Maldives have been on a declining trend since June 2020. At that time, the gross reserves held by the Maldives Monetary Authority amounted to USD 702.5 million , sufficient to finance 5.2 months of imports. However, by September 2024, the reserves had fallen to USD 371.2 million, covering only 1.1 months of imports. This situation mirrors what happened in Sri Lanka, which faced its worst economic crisis after its usable external reserves plummeted from USD 6,695 million (6.4 months of imports) in June 2020 to USD 308 million (0.18 months of imports) by April 2022. The rapid decline forced Sri Lanka to default on its external debts due to a shortage of foreign exchange. With assistance from the International Monetary Fund (IMF), Sri Lanka is now undergoing debt restructuring, temporarily halting debt repayments and increasing foreign exchange inflows. While the Maldives' reserves are declining at a slower rate—0.08 months of import coverage lost per month compared to Sri Lanka's 0.25 months per month—the trend is still concerning. At this pace, the Maldives could face a similar crisis within the next 2 years. It is crucial for the Maldives to identify these warning signs early. Proactive measures, such as pre-emptive debt restructuring, can be less harmful than dealing with a disorderly default. Early intervention can help stabilise the economy and avoid the severe consequences as experienced in Sri Lanka.
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Sri Lanka moves closer to finalising debt restructuring with Japan
Sri Lanka’s Cabinet approved a debt restructuring agreement with JICA, following bipartisan negotiations and legal clearance, aiming to boost investor confidence and secure further international financial support....
2025-02-06
Daily FT
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ප්රවාහනය සහ සන්නිවේදනය
නාගරික සංවර්ධනය සහ නිවාස
Govt. revenue soars by 44% to Rs. 916 b in 1Q
Government revenue increased by 44% to Rs. 916.2 billion in the first quarter, attributed to revenue-based fiscal consolidation efforts.
2024-06-12
Daily FT
වැඩිදුර කියවන්න
Govt. still lagging on governance improvements under IMF program: Verité Research
Verité Research's evaluation reveals Sri Lanka's failure to meet significant commitments under the IMF program, particularly in financial management, transparency, and anti-corruption measures, highlighting p...
2024-06-10
Daily FT
වැඩිදුර කියවන්න
Accountability crucial for growth and governance in SL, says Dr. Devarajan
Dr. Devarajan asserts that economic reforms and improved governance are imperative for the nation's progress, with both objectives hinging on the principle of accountability.
2024-06-10
Daily Mirror
වැඩිදුර කියවන්න
Rs. 200 b to be earned from VAT exemption removal
Sri Lanka's decision to remove exemptions from the Value Added Tax (VAT) is projected to yield significant fiscal benefits, with an anticipated recovery of at least Rs. 200 billion in revenue in 2024. ...
2024-06-07
The Morning
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