2017-11-21 16:32:37
External debt will increase by 10 billion Rufiyaa in 2 years : MMA
External debt will increase by 10 billion Rufiyaa in 2 years : MMA
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Maldives Monetary Authority has stated that the external debt which was at 11.1 billion Rufiyaa in 2016 will reach 21.7 billion Rufiyaa by 2018.
The feedback given to the budget by MMA states that the external debt will reach 17.4 billion Rufiyaa this year and hence this is an increase of 5.7 billion Rufiyaa from 2016.
According to MMA, external debts increased because of the loans taken to conduct developmental projects. Governor of MMA said that increase in foreign debt will decrease the reserve of MMA and action needs to be taken to mitigate the affects that will be caused by that.
The feedback given to the budget by MMA states that the external debt will reach 17.4 billion Rufiyaa this year and hence this is an increase of 5.7 billion Rufiyaa from 2016.
According to MMA, external debts increased because of the loans taken to conduct developmental projects. Governor of MMA said that increase in foreign debt will decrease the reserve of MMA and action needs to be taken to mitigate the affects that will be caused by that.