Tourist haven destination Maldives under markets pressure as debt slumps

Quick Summary:

The security due 2026 dropped to 70.24 cents on the dollar Thursday, a record low.

The International Monetary Fund warned in May that without significant policy changes, the country will face a high risk of debt distress.

Maldives’ ruling People’s National Congress party won an absolute majority in parliament in elections held April, giving President Mohamed Muizzu’s pro-China policies a boost.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaMaldivesMali

Topics: Mohamed Muizzu Maldives economy crisis Maldives economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 22:45:38 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 425 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22299191

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