Thursday 6th Oct 2022
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State owned Enterprises

5 Govt Companies Have Accumulated MVR 67 Billion in Debt: IMF

International Monetary Fund (IMF) has stated that five government companies listed on the Maldives Stock Exchange have accumulated MVR 67 billion in debt.
A report from IMF shows that five out of 32 government companies have been listed on the stock exchange and mandated to publish timely financial reports.
IMF has analyzed the companies’ financial reports. According to IMF, the companies’ assets total MVR 113 billion, and debts total MVR 67 billion. This is 84 percent of GDP.
The halt in tourism due to COVID-19 has led to great losses in the Maldivian economy. The government is making several efforts to solve the issue.