The International Monetary Fund (IMF) has noted that the Maldives' official reserves have increased as a result of strong tourism growth, foreign financial assistance and measures taken by the Government to improve foreign currency inflows.

The observation was made in the IMF's 2026 Article IV Mission concluding statement on the Maldivian economy.

The IMF stated that the tourism sector recorded strong growth over the past year due to sustained demand, while financial support from international partners helped ease some of the external financing pressures facing the country. The IMF also noted that these developments contributed to an increase in the Maldives' official reserves.

The agency acknowledged progress made through measures introduced by the government to facilitate foreign currency inflows. In particular, the IMF highlighted the Foreign Currency Act, stating that it had helped reduce foreign currency shortages and strengthen reserve levels.

The IMF noted that the improvements were achieved despite ongoing challenges in the global economic and financial environment. It also stated that the Maldives had reduced risks associated with external debt repayments, lowering the likelihood of a financing crisis linked to debt obligations.

However, the IMF cautioned that the country remains vulnerable to external risks, including higher import costs, fluctuations in global oil prices and changes in tourism demand.

The agency said further economic reforms would be necessary to maintain exchange rate stability and safeguard the broader economy. It recommended policies aimed at strengthening fiscal sustainability, reducing debt and maintaining macroeconomic stability.

The IMF also welcomed the Maldives Monetary Authority's decision to resume open market operations, noting that the move would support efforts to strengthen monetary policy implementation.

An IMF delegation visited the Maldives from 4 to 14 June and met with Minister of Finance and Public Enterprises Hassan Zareer, Maldives Monetary Authority Governor Ahmed Munawar, senior Government officials, private sector representatives and development partners.