Gross international reserves increased to USD 984.8 million by 2020 end
The nation's gross international reserve had USD 712 million by the close of 2018
MMA economic update shows 31% increase in international reserves between December 2019 and December 2020
Maldives Monetary Authority (MMA) statistics confirm that the Maldives' gross international reserve increased by 31 percent between December 2019 and December 2020.
The economic update publicized by MMA shows that by the close of December 2020, the Maldives had USD 984.8 million in gross international reserves. This is a 31 percent increase from the amount in gross international reserves in 2019, which amounted to a total of USD 753.5 million.
The Maldives had accumulated USD 629.9 million in gross international reserves by the end of November 2020, which had increased by 56 percent to USD 984.4 million by the end of December 2020.
At the close of 2018 with incumbent President Ibrahim Mohamed Solih's administration in power, Maldives had USD 712 in government reserves, of which only USD 281 million were useable reserves. In 2019, the nation's gross international reserves increased to USD 753.3 million, of which USD 315.8 were useable reserves. This is the highest the Maldives' useable reserves have been since the year 2012.
As the Solih administration works to control the Covid-19 pandemic without draining national reserves, the Maldives had USD 122.3 million in useable reserves at the end of August 2020.
