Fitch Ratings has maintained the Maldives' sovereign credit rating at ‘CC’, reflecting continued fiscal reforms, improved revenue collection, and better management of foreign reserves and expenditure. The announcement was welcomed by the Ministry of Finance as a recognition of the government’s ongoing fiscal discipline and economic strategy.
According to the latest figures released by the Finance Ministry, the Maldives recorded a fiscal surplus of USD 71 million as of June 5. This marks a significant shift from previous years, driven by stronger-than-expected revenue performance and tighter budget controls.
Fitch also acknowledged the government’s proactive steps in formulating medium-term financial and debt strategies, aimed at maintaining sustainable public finances. These measures include structural reforms to reduce public debt, boost productivity, and create a more attractive investment climate.
In a statement, the Ministry reiterated the government’s commitment to fiscal responsibility and long-term financial health, positioning the Maldives as a credible and stable economic partner on the global stage.
Fitch first assigned a sovereign credit rating to the Maldives in 2016. A sovereign credit rating serves as an independent assessment of a country’s ability to meet its debt obligations, playing a key role in shaping investor confidence and access to international financing.