Development projects affect exchange rates: MMA governor

Maldives Monetary Authority (MMA)'s Governor Ali Hashim, on Sunday, warned that borrowing foreign funds to finance development projects could have a negative impact on exchange rates.

Featured Image

Maldives Monetary Authority (MMA)'s Governor Ali Hashim speaking at the parliament. PHOTO: AHMED AWSHAN ILYAS/ MIHAARU

Mariyam Malsa

2020-11-15 15:12:31

Maldives Monetary Authority (MMA)'s Governor Ali Hashim, on Sunday, warned that borrowing foreign funds to finance development projects could have a negative impact on exchange rates.

Speaking at the parliamentary committee reviewing the 2020 State Budget, Governor Hashim requested the parliament to caution the government against initiating projects without guaranteeing a source to acquire the required foreign currency.

This article is in our Archive

Login to read for free! Register to create an account