MMA responds to Moody's Ratings, assures debt repayment

Following Moody's Ratings' recent downgrade of Maldives' credit rating from a CAA1 to a CAA2 on review status pending further downgrades, the country's central bank Maldives Monetary Authority (MMA) has reassured Maldives would be able to repay its outstanding debts.

In its statement, MMA said that they project Maldives' GDP growth to reach 4.9% in 2024, and expand to 6.5% in 2025, supported by the tourism sector's performance and opening of the new terminal at Velana International Airport (VIA).