MMA reports 14% bump on total reserves in Q1-2021


Maldives Monetary Authority (MMA)

Maldives Monetary Authority (MMA) on Sunday, 30 May 2021, reported a 14% increment on the total reserves by the end of the first quarter of 2021.

According to the Maldives central bank, the country’s total reserves as of the first quarter’s end reached USD844.7 million. In contrast, the total reserves stood at USD741.4 million in the corresponding period of 2020.

Though the review quarter marks a 14% increment in comparison with the same period last year, the reserve saw a decline of an equal 14% when compared with the final quarter of 2020.

Moreover, MMA reports total reserves had reached USD984.8 million in the final quarter of 2020.

Furthermore, statistical publication of MMA reveals Maldives usable reserves stood at USD173 million by the end of 2020.