AGP Executive Report
Last update: 11 hours agoCross-border Payments: Maldives’ instant payment system Favara has gone live with India’s UPI, enabling real-time person-to-person transfers from Maldives to UPI-enabled Indian bank accounts via Bank of Maldives and Maldives Islamic Bank, with transactions initiated in MVR (or USD) and credited instantly in INR; MMA says future phases will add QR merchant payments. Anti-Corruption & Governance: President Muizzu says stolen public assets can be recovered and points to an Asset Recovery Bill, while also pushing digitalisation to reduce corruption opportunities. Human Trafficking Push: Muizzu calls for vigilance against trafficking scams, citing Operation Kurangi and new national action planning under the Human Trafficking Prevention Act. Public Finance: Government debt repayments hit USD 596.6m in the first half of 2026, up sharply year-on-year, with a projected USD 836.6m for the full year. Weather & Transport: Met Office issues rough-sea and torrential rain warnings; MTCC says flooding on a newly upgraded road is due to unfinished pump-station works. Politics: Former President Yameen rejects claims of state-funded party operations, while MDP lawmaker Kudu demands clarity from MTDC over allegations of a below-market lease transfer for GDh. Maguhdhuvaa.
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