International reserves improve, usable reserves decline

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The international reserves of Maldives observe an improvement as of April 2020, while usable reserves see a decline.

As per Maldives Monetary Authority (MMA), the gross international reserves saw an increase of USD889.4 million by end of April 2020.

Meanwhile, the GIR was at USD741.4 million by end of March.

Moreover, the Maldives central bank notes the improvement in GIR is a growth of 14% in comparison with April 2020.

Furthermore the growth marks a 20% improvement over the previous month of March 2020.

However, in April 2020 the usable reserves hit USD230.5 million marking the decline.

As per MMA, the usable reserves for March 2020 hit USD269.5 million.

Moreover, the usable reserves witness a decline in comparison to corresponding period of 2019.

In April 2019, the usable reserves was at USD250.2 million.

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