The World Bank has said that foreign direct investment has declined in the Maldives in the past year.
A report released by the IMF analysing the financial status of countries around the world stated that foreign direct investment into South Asia had increased by 32%. The report highlights that although USD$ 63 billion flowed into South Asia in 2020 as foreign direct investment, most of it went to India.
However, other countries within the region had incurred a decrease in investment. Compared to 2019, investment in India’s neighbours underwent an average reduction of 25.3%.
Investment into the Maldives had virtually stopped, with the country receiving a meagre USD$ 348 million in 2020. This is a 63.6% reduction from the USD$ 956 million received in 2019.