The Maldives’ credit rating upgrade by international rating agency Moody’s Ratings reflects the effectiveness of policies implemented by the government, Minister of Finance and Public Enterprises Hassan Zareer has said.
Moody’s has upgraded the Maldives’ sovereign credit rating from Caa2 to Caa1, a move welcomed by the minister as recognition of the government’s efforts under the leadership of President Dr Mohamed Muizzu.
“I am pleased to announce that Moody’s Ratings have announced their rating upgrade of the Maldives’ Sovereign Credit rating from ‘Caa2’ to ‘Caa1’,” Minister Zareer said.
He said the upgrade reflected the effective policies implemented by the government under President Muizzu’s leadership.
The minister also reaffirmed the government’s commitment to protecting vulnerable groups and safeguarding the Maldives’ macroeconomic stability amid the current period of global economic uncertainty.
Moody’s said the change in the Maldives’ credit rating reflects the progress being made in implementing government policies, improvements in debt repayment and measures taken to strengthen fiscal security. These developments have reduced the risk of debt repayment difficulties in the near term.
According to figures from the Ministry of Finance, government debt stood at 129.2 per cent of GDP at the end of 2025. By the end of July 2026, this had fallen to 122.6 per cent of GDP.
The ministry has attributed the decline to efforts to repay debt and the implementation of prudent fiscal policies.
The government has said it will continue working to maintain economic stability in the Maldives despite uncertainty in the global economy.