The International Monetary Fund (IMF) and the World Bank have welcomed the Maldives’ efforts to overcome its financial challenges and the recent upgrades to its credit rating.
The two financial institutions expressed their welcome during separate meetings between the Executive Directors of the agencies with the Minister of Finance and Public Enterprises, Hassan Zareer on the sidelines of ongoing IMF Annual Meetings in Bangkok.
During the Minister’s meetings with IMF’s Executive Director Dr Mohamed Maait and Executive Director of the World Bank Group, Abdulaziz Al Mulla, discussions focused on the progress made in strengthening the Maldives’ fiscal position. Both Executive Directors acknowledged the Maldives’ recent credit rating improvement and the government’s efforts to enhance engagement with multilateral partners.
Fitch and Moody’s have rated the Maldives’ creditworthiness since 2017, and both agencies have recently upgraded the Maldives’ credit ratings, citing progress in debt repayment. Fitch upgraded the Maldives’ long-term foreign-currency issuer default rating from CC to CCC-, on 3 June 2026, while Moody’s upgraded the rating from Caa2 to Caa1 on 8 October 2026.
The government repaid a USD 500 million sukuk repayment in April and has also repaid debts owed to India.