Short-term budget financing measures of selling T-bills and printing money pose risks such as the devaluation of the Rufiyaa, while unpaid bills could disrupt basic services such as electricity, the report warned.
The Maldives has been awarded the title of “World’s Leading Island Destination” at the 2013 World Travel Awards Grand Final hosted at the La Cigale Hotel in Doha, Qatar last week.
The Yameen administration today became the third consecutive government to set its sights on the construction of a bridge connecting the main island of Male’ with neighbouring Hulhumale’. The Minister of Economic Development assured that foreign investors in the project would be afforded the full protection of the constitution.
The government of President Yameen Abdul Gayoom has said that the Maldives will be eyeing on alternative fish export markets including the middle-eastern and Malaysian market, after withdrawing its application for European Union (EU)’s duty-free status of imported fish from the country, over fears of rejection.
The state-owned STO is the country’s primary wholesaler, responsible for bringing in the vast majority of basic foodstuffs such as rice and flour, as well as other imported commodities such as electrical goods.
The Head of Aviation Security Command Colonel Mohamed Ziyad told local newspaper Haveeru that the four passengers had given out a false alarm in a bid to express their frustration over the delay in boarding the passengers to the flight.
Bangladesh will lift the ban on worker migration to the Maldives after a government delegation was sent to investigate allegations of fraudulent recruitment, forced labour and migrant unemployment.
The Maldives applied for an extension under the ‘GSP+’ program, a unilateral trade concession of the EU given to a limited number of countries on the basis of good implementation of human rights are labor conventions, officials said, however did not qualify due to the country’s reservations to ICCPR on religious freedom and CEDAW concerning women’s rights.
The national debt is expected to reach US$2 billion or 81 percent of GDP in 2014, the finance ministry revealed in a “Fiscal and Economic Outlook” statement last week, while Finance Minister Jihad told parliament that no foreign bank was willing to lend to the Maldives under the present circumstances.