Featured

Maldives raises $178.9 mln coronavirus relief funds from India, IMF

Published

6 years ago

April 29, 2020

A total of $178.9 million has been raised through a currency swap facility with India and as an emergency loan from International Monetary Fund (IMF) loan to shore up the local economy against the shocks stemming from coronavirus pandemic, the Maldives central bank announced Tuesday.

Maldives Monetary Authority (MMA) said $150 million had been received under a $400 million currency swap arrangement signed with the Reserve Bank of India in 2019.

The currency swap facility is part of a $1.4 billion economic package announced by India for the Maldives in December 2018 on President Ibrahim Mohamed Solih’s maiden visit to the Maldives closest neighbour after coming to power.

The decision to activate the currency swap arrangement comes a week after a telephone conversation between President Solih and Indian Prime Minister Narendra Modi.

Meanwhile, the MMA said IMF has disbursed the $28.9 million loan approved last week under its fast track, zero-interest Rapid Credit Facility.

“These financial assistances will help the bank issue foreign currency for the import of essential food products and resources for the healthcare sector as immediately required,” a statement issued by MMA read.

The Maldives is looking to borrow $233.37 million from international lenders to plug the gap in balance of payments stemming from the coronavirus pandemic.

Funds already pledged by international lenders include $28.9 million from the International Monetary Fund (IMF), $20 million from the OPEC Fund for International Development, $17.3 million from the World Bank, and $3.28 million from the European Union.

In the meantime, the government will borrow MVR 4.2 billion ($272 million) under an overdraft facility at the central bank to cover state expenses and maintain public services amidst the coronavirus pandemic.

The coronavirus outbreak has hit the Maldivian economy hard, as travel restrictions and other preventive measures affect the country’s lucrative tourism industry, which contributes the bulk of the island nation’s state revenue and foreign reserves.

Before the pandemic, the government had been bullish about tourism prospects, targeting two million, high-spending holidaymakers this year after last year’s record 1.7 million.

However, tourist arrivals saw a year-over-year decline of 22.8 per cent in the first 10 days of March. Officials say the number of tourist arrivals to the Maldives could drop by half in 2020.

All international airlines have suspended scheduled operations to the Maldives, as the island nation enforced a blanket suspension of on-arrival visa in late March in a bid to combat the spread of the novel coronavirus.

Even before the visa suspension, the Maldives had closed its borders to arrivals from some of the worst-hit countries, including mainland China, Italy, Bangladesh, Iran, Spain, the United Kingdom, Malaysia and Sri Lanka. Visitors from three regions of Germany (Bavaria, North Rhine-Westphalia and Baden-Württemberg), two regions of France (Île-de-France and Grand Est) and two regions of South Korea were also banned from entering the country.

All direct flights to and from China, Italy, South Korea and Iran were also cancelled.

Cruise ships and foreign yachts were also banned from docking at any of the country’s ports.

With arrival numbers falling and the visa suspension in effect, several resorts across the Maldives had been closed.

Tourism has been the bedrock of the Maldives’ economic success. The $5 billion-dollar economy grew by 6.7 per cent in 2018 with tourism generating 60 per cent of foreign income.

However, the government is at present projecting a possible 13 per cent economic contraction this year — an estimated $778 million hit.

On March 8, Maldives reported its first cases of the novel coronavirus, as two hotel employees tested positive for Covid-19 at a luxury resort in the archipelago.

Eighteen more cases — all foreigners working or staying resorts and liveaboard vessels except five Maldivians who had returned from abroad — were later identified.

A six-case cluster of locals, detected in capital Male on April 15, confirmed community transmission of the coronavirus. Several more clusters have since been identified, bringing the total number of confirmed case in the Maldives to 250.

No deaths have been reported and 17 have made full recoveries.

The Maldives announced a state of public health emergency on March 12, the first such declaration under a recent public health protection law.

The public health emergency declaration has allowed the government to introduce a series of unprecedented restrictive and social distancing measures, including stay-at-home orders in capital Male and its suburbs, a ban on inter-island transport and public gatherings across the country, and a nationwide closing of government offices, schools, colleges and universities.

Non-essential services and public places in the capital such as gyms, cinemas and parks have also been shut.

Restaurants and cafes in the capital have been asked to stop dine-in service and switch to takeaway and delivery.

A nationwide shutdown of all guesthouses, city hotels and spa facilities located on inhabited islands is also in effect.

Photo: Maldives Monetary Authority (MMA). PHOTO/ CORPORATE MALDIVES

Cooking

VARU by Atmosphere unveils Teppanyaki Over Water and Cellar at NÜ

Published

2 hours ago

November 13, 2025

m@ldives

Celebrating the spirit of modern Maldivian hospitality, VARU by Atmosphere has expanded its culinary offering with two new dining venues: Teppanyaki Over Water and Cellar at NÜ. Designed for both first-time and returning guests seeking authentic, inventive experiences, the additions broaden the resort’s gastronomic landscape.

At Teppanyaki Over Water, seasoned chefs transform the art of teppan grilling into a live culinary performance above the lagoon. Premium seafood, wagyu and sushi are prepared with precision and flair, complemented by sake cocktails and fine soju. The speciality restaurant delivers dishes straight from the grill to the plate, in an ambience that reflects the spirit of Japanese hospitality.

As sunset draws over the Indian Ocean, Cellar at NÜ offers an elegant overwater wine-degustation lounge where evenings unfold with sophistication. Guests can explore rare vintages and special selections paired with curated chocolate, cheese and charcuterie platters. The centrepiece is a six-course Royal Wine Pairing Dinner.

“At VARU, our cuisine, design and service are intuitive and inventively curated,” said Maurice Van Den Bosch, General Manager of VARU by Atmosphere. “We continue to evolve in meaningful ways. With Teppanyaki Over Water and Cellar at NÜ, we’ve created culinary journeys that are intimate, enriching and true to the island’s generous spirit — offering guests new reasons to return, season after season.”

For special occasions, romantic evenings or those wishing to discover new cuisines, the two overwater venues add an extra layer of indulgence and celebration beyond the VARU Plan™, and are available for guests to pre-book.

Located in North Malé Atoll, VARU by Atmosphere has been recognised in Tripadvisor’s Travellers’ Choice Awards Best of the Best 2025, ranking among the top 1% of listings worldwide. Its signature restaurant, Kaagé, has also received the Tripadvisor Travellers’ Choice Award 2025 for the fifth consecutive year, underscoring the resort’s reputation for dining excellence. With these thoughtfully introduced experiences, VARU by Atmosphere invites guests to embrace an unforgettable, Naturally Maldivian island adventure.

Celebration

Villa Park sets holiday line-up with sunset welcome, Santa visit and NYE gala

Published

21 hours ago

November 12, 2025

m@ldives

Villa Park has announced its Festive 2025–2026 programme, running from 20 December 2025 to 6 January 2026. The schedule moves from lagoon-side mornings to music-led evenings on the beach, beginning with a sunset welcome and continuing with beach barbecues, creative workshops, Christmas Eve dinner, Santa’s visit on 25 December, and a New Year’s Eve gala with a midnight countdown. The season concludes with programmes on New Year’s Day and Orthodox Christmas.

Daytime activities include chef demonstrations, shoreline art sessions, and live music. Evenings feature romantic tables, treetop dining for two, and simple set-ups that highlight the island setting. The programme is designed for couples, friends, and families to join as they wish.

Family programming centres on Park Players, presented as the Maldives’ largest kids’ club, with letters to Santa, gingerbread crafts, ocean-themed art, movement classes, story time, and film nights. Group sizes are kept small to ensure attentive supervision.

Villa Park’s family offering has been recognised beyond the festive season, with the resort named among the Best Resorts for Families in the Maldives at the Travel + Leisure Luxury Awards Asia Pacific 2025, a reader-voted accolade reflecting guest feedback on space, programming, and flexible pacing.

Throughout the calendar, private experiences sit alongside larger celebrations, including candlelit beach dining, treetop tastings, floating breakfasts, and open-air cinema for two. Guests can set their own rhythm, whether opting for lively beach gatherings or quiet evenings under lanterns and palms, from sunrise through to the New Year countdown and beyond.

Featured

Anantara Kihavah Maldives Villas introduces season of wellness with three practitioners

Published

1 day ago

November 12, 2025

m@ldives

Anantara Kihavah Maldives Villas is inviting guests to embark on a holistic journey guided by three visiting wellness practitioners, each specialising in distinct approaches to healing. Drawing on traditional knowledge and contemporary practice, the practitioners will offer therapies at the resort’s overwater spa designed to align body, mind, and spirit in a tranquil Maldivian setting. Disciplines include Ayurveda, energy-based therapies, sound healing, and mindful movement, with personalised consultations and bespoke treatments available.

A fifth-generation Ayurvedic physician, Dr Jithurag continues a 300-year family lineage rooted in holistic balance. Trained within the Rameswaram Tantric tradition, he blends Ayurvedic principles with elements of Traditional Chinese Medicine, integrating marma therapy and acupuncture with Reiki and Pranic Healing. Using wellness screening technologies to assess biomarkers, he designs tailored treatment plans. Guests may book a complimentary consultation and choose from signature therapies such as TCM Acupuncture, Cupping Therapy, Marma Abhyanga, and Back Restoration Therapy.

Holistic therapist and Ayurvedic healer Sharath Ram brings more than 16 years’ experience in supporting physical, mental, and spiritual balance. His work combines Ayurveda with energy practices and therapeutic yoga to encourage both recovery and transformation. His specialities include Chakra Inner Energy Balancing, Ayurveda Deep Fusion Therapy, Visceral Manipulation, Maderotherapy, and Mind-Body Healing. He will also lead complimentary workshops, including The Art of Breathing and Dynamic Meditation, focusing on breathwork and movement to promote calm and clarity.

From Kerala, India, Vinod Narayanan offers over a decade of experience in Ayurveda, yoga, and holistic healing across Europe, Africa, and Asia, including service as a personal physician to dignitaries. At Anantara Kihavah he will provide therapies such as Himalayan Sound Healing Massage, De-Armouring Body Therapy, Abdominal Detox, Access Bars Energy Healing, and Gut-Brain Rewiring. Using vibration, touch, and energy alignment, his sessions aim to release emotional blockages, improve circulation, and support the body’s natural rhythm. Complimentary consultations are available, alongside sound-based journeys that seek to harmonise body and spirit.

Together, the practitioners complement Anantara Kihavah’s wellbeing philosophy, extending from Ayurvedic traditions to sound therapy. Guests are invited to the overwater Anantara Spa for bespoke treatments, meditative workshops, and one-to-one consultations that encourage connection with self and nature.

Further enhancing the experience, the resort has introduced reimagined Beach Pool Villas featuring natural textures, open-plan spaces, and private pools set within tropical greenery.