Maldives targets forex shortage with new strategic plan
Central bank wants to tackle dollarisation and forex shortages, and may shake up governance
The Maldives Monetary Authority (MMA) is weighing changes to the way it sets monetary policy as it looks to reduce dollarisation and tackle a “persistent” shortage of foreign exchange.
“Given the import-dependent nature of the local economy, the interrelated problems of the shortage of foreign exchange and high dollarisation are the two most pressing issues,” writes governor Ahmed Naseer in the introduction to the MMA’s new strategic plan.
The authority plans to redesign its monetary policy
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