Gov’t refuses to explain how reserves surged
Chief Spokesperson Heena Waleed said that the central bank's statistics show that the reserves have increased
Maldives Monetary Authority (MMA), the central bank
At a time the central bank, Maldives Monetary Authority (MMA) has revealed that the national reserve has surged, the government has refused to clarify how it happened.
A journalist from RaajjeTV posed a question regarding the increase in the national reserve, during a press conference held at the President’s Office on Tuesday.
According to the central bank, the national reserve increased to USD 444 million from USD 395 million.
Further, MMA revealed that the amount in the usable reserves also surged. Statistics from the central bank show that the usable reserves have increased from USD 45 million to USD 61 million.
Responding to RaajjeTV’s question regarding this surge, Chief Spokesperson Heena Waleed said that the central bank's statistics show that the reserves have increased.
She went on to assert that the central bank is an independent institution and that she cannot speak about MMA.
Although the central bank's statistics showed an increase in usable reserves, the current usable reserves are only enough for approximately one month's worth of imports.
While the reserves have increased, and although Heena has asserted that the central bank is an independent institution and that she cannot speak about it, several Cabinet Ministers have spoken about the central bank at press conferences held at the President's Office on previous occasions.
