The Maldives usable reserve drops to USD200 million according to Maldives Monetary Authority (MMA).
According to the central bank, the 2023 fiscal year began with a usable reserve of USD260 million.
The country’s usable reserve in March 2022 stood at USD400 million, which indicated a 50% decline in the same month this year.
The average usable reserve in 2022 stood at USD290 million. The reserve also saw gradual decline from April until October 2022. In October 2022, the usable reserve dropped to USD105 million, after which it continued to rise during the final quarter.
The national reserve stood at USD790 million at the beginning of 2023, which dropped to USD760 million during the first quarter.