Maldives state reserves at USD685m

The Maldives state reserves was observed at USD685 million by end of January 2020 according to Maldives Monetary Authority (MMA).

Statistics from the Maldives central bank confirm the reserves observed at the review month was an improvement of USD8 million compared to the corresponding period in 2019.

MMA revealed the reserves increased the highest during February 2019, reaching USD938 million.

Meanwhile the usable reserves of Maldives state by end of December 2019 was at USD315.9 million.

Moreover, central bank forecasts by end of 2020 the state reserves will reach USD863 million.

Earlier, incumbent Maldives President Ibrahim Mohamed Solih claimed the state reserves will be lifted to USD1 billion by the end of his first presidential term.