Maldives Repays USD 50 Million Indian Loan
The President stated that his administration has now completed repayments amounting to USD 524 million, in addition to managing USD 400 million in currency swaps over the past forty days.
AdvertisementFitch Ratings has lifted the Maldives’ Long‑Term Foreign‑Currency Issuer Default Rating (IDR) to ‘CCC‑’ from ‘CC’, signalling that the island nation’s near‑term default risk has moderated after a successful repayment of a USD 500 million sukuk i...
Fitch Ratings has lifted the Maldives’ Long‑Term Foreign‑Currency Issuer Default Rating (IDR) to ‘CCC‑’ from ‘CC’, signalling that the island nation’s near‑term default risk has moderated after a successful repayment of a USD 500 million sukuk in early April. The rating agency noted that the sovereign’s ability to service external...
Our story takes place sometime in the 19th century in the Maldives’ capital, Malé, nestled within the verdure of the Sultan’s Palace. Within the confines of the palace’s southern chamber, the Sultan is being dressed. Over a pair of trousers, their hems adorned with gold and silver thread, he dons his jubbah, a formal outer robe worn for ceremonial and religious occasions, elaborately embellished and flowing with long sleeves. He steps into ornate, pointed-toed shoes, and attendants place upon his head the fagudi kolhu, a white ceremonial headcloth made from fine material. At the centre of its widest point sits the thurravaas, a flower-like ornament crafted from gold.
Tracing the cultural roots, social shifts, and modern evolution of surfing in the Maldives, from indigenous wave-riding traditions to a globally recognised sport. For a nation comprising 99% ocean, it is unsurprising that wave-riding occupies a distinctive place in Maldivian culture. Known locally as Raalhaa Elhun, surfing is one of the few sports in the Maldives with an indigenous name, reflecting a relationship with the ocean that predates modern recreation. Long before sleek, contemporary surfboards arrived on Maldivian shores, island communities were already engaging with waves as both play and practice. Oral histories, poetry and folklore recount men, women and children gliding across reef breaks through body surfing or balancing on hand-crafted wooden boards known as Malhu.
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