Maldives; in need of decisive economic reform

Maldives, renowned for its stunning atolls, world class tourism, and fragile environmental balance is currently faced with significant economic challenges amid a global backdrop of uncertainty. Despite these difficulties, the island nation has shown remarkable resilience, particularly in its key tourism sector, while grappling with external and fiscal pressures.

World Bank’s report, “Maldives Development Update: Seeking Stability through Turbulent Times” outlines the current state of the economy, examining challenges posed by external debt, inflation, and dwindling currency reserves, while highlighting positive efforts aimed at achieving long term stability.