Maldives Monetary Authority (MMA) has reveals the state reserve reached USD 685 million by the end of the first month of 2020.
According to statistics published by MMA, the state reserve saw an increase of 1.2% compared to the USD 677 million recorded in the reserve by the end of December 2019. The figure from the end of the year was higher than the projected USD 635 million.
According to the statistics of 2019, the highest amount in the state reserve was recorded in February, with USD 938 million. The government projects the state reserve to be at USD 818 million by the end of the 2020.
The aim of the administration is to increase the state reserve to USD 1 billion by the end of the five year term of President Ibrahim Mohamed Solih.