The usable reserve of the Maldives has increased to levels not seen since before the onset of the COVID-19 pandemic.

Financial statistics released by the central bank, the Maldives Monetary Authority (MMA), indicate that the usable reserve currently stands at USD 300 million. However, the gross international reserve remains above USD 1 billion.

The usable reserve is calculated after deducting short-term debt obligations and essential import financing.

This increase to USD 300 million marks the second-best performance for the reserve in the past six years. For comparison, the reserve stood at USD 315 million in 2019.

In recent years, the reserve reached its lowest point in 2024, falling below USD 100 million. However, following financial reforms implemented by the government, the reserve began to recover last year.

A significant contributing factor to this recovery has been the commencement of foreign currency exchanges from the tourism industry into the domestic banking system. Consequently, the Maldives' usable reserve rose to USD 200 million last year before reaching its current level.