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Maldives Economic Tribune
Economy & Business

Fitch Upgrades Maldives Sovereign Rating to ‘CCC‑’ as Default Risk Eases

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 i...

June 3, 2026
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Fitch Upgrades Maldives Sovereign Rating to ‘CCC‑’ as Default Risk Eases
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Tribune Features

Strait talk- geography as strategy

Strait talk- geography as strategy

March 13, 2026

Closing the strait outright would be an extreme and risky step. It would provoke a swift international response and potentially draw major powers more directly into the conflict. Yet a complete closure is unnecessary for Iran to achieve its objectives. Sporadic disruptions, ambiguous threats or isolated incidents at sea can be sufficient to unsettle global markets.

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Perceptions and Reality: The Pension Fund Transaction in Context

Perceptions and Reality: The Pension Fund Transaction in Context

February 5, 2026

A financing arrangement involving the pension fund has sparked intense public concern. A closer look shows that the mechanism itself is neither novel nor decisive on its own, and that much of the current debate reflects expectations shaped by economic strain and a heated political climate rather than outcomes already observed.

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Maldives Economic Tribune

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Economy & Business

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Fitch Upgrades Maldives Sovereign Rating to ‘CCC‑’ as Default Risk Eases

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...

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Fitch Upgrades Maldives Sovereign Rating to ‘CCC‑’ as Default Risk Eases
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Life & Culture

Through the Past: A Sultan’s Procession

Through the Past: A Sultan’s Procession

January 31, 2026

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.

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Salt, Soul and Surf in the Maldives

Salt, Soul and Surf in the Maldives

January 31, 2026

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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