Maldives secured US$100m from India to shore up depleted reserve

The Maldives Monetary Authority secured in December a currency swap deal worth US$100 million from the Indian central bank to shore up depleted foreign currency reserves.The agreement with the Reserve Bank of India was the Maldives’ first currency swap deal.The country’s international reserve was severely depleted after the central bank bought a US$140 million bond from the state-owned airport company to help raise funds to compensate Indian developer GMR, which was owed US$271 million in damages for the cancellation of its contract to develop the main international airport. ...........Members Log in or Subscribe to Read more------------

Please or to Read More Entire Article

Related Tags

Article by Same Author

In case you come across any suspicious activity, any suspicious movement or have any information to tell to the Anti-Terror Squad, please take a note of the new ALL INDIA TOLL-FREE Terror Help-line '1090'. Your city's Police or Anti-Terror squad will take action as quickly as possible. Remember that this single number 1090 is valid all over india. This is a toll free number and can be dialled from mobile phones also. Moreover, the identity of the caller will be kept a secret.

Please try to make aware each and every citizen of india about this facility.

Helpline 1090