AGP Executive Report
Last update: 10 hours agoEnergy & Finance: The Maldives secured a USD 50m ADB loan for energy security, aimed at easing fiscal pressure from higher global fuel prices and covering diesel needs for electricity, water, transport of food/medical supplies, and waste management. Judiciary: Adam Shameem was appointed Chief Judicial Administrator after a JSC selection process, taking over from Amjad Mustafa. Housing Progress: The Housing Ministry says 55% of Rasmalé reclamation is complete, with 556.54 hectares reclaimed—amid ongoing opposition criticism of delays. Foreign Exchange Pressure: Official reserves fell to USD 638.03m by end-July, down from USD 1.33b in March, as large external repayments were made and banks struggled to meet dollar demand at official rates. Tourism Policy: MPs debated amendments to levy GST on offshore booking platforms and foreign tour operators, with Mohamed Abbas warning tourism shouldn’t be “milked dry” as occupancy reportedly drops sharply. Diplomacy & Markets: A high-level tourism mission led by Minister Mohamed Ameen heads to Russia to boost air connectivity and tourism cooperation. Digital Economy: Visit Maldives will host the inaugural Digital Ownership Summit in December, focused on tokenised real-world assets for tourism and investment.
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