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

Action

Eri Maldives offers accessible reef diving and snorkelling

Published

9 hours ago

April 5, 2026

m@ldives

Eri Maldives is located within the waters of North Malé Atoll and is surrounded by a house reef accessible to both beginner and experienced divers. With four direct reef entry points and shore access, the resort offers opportunities for snorkelling, introductory dives and certified diving.

The house reef supports a range of marine life, including white-tip and black-tip reef sharks, nurse sharks, hawksbill turtles, mobula rays and spotted eagle rays, as well as schools of reef fish. The accessibility of the reef allows guests to explore the area over multiple days, providing opportunities to observe marine behaviour and habitats over time.

Turtle encounters

Hawksbill turtles are among the most frequently observed species on the reef. The resort’s dive team has identified 14 individual turtles, each recognised by shell patterns and physical features. These include turtles known as Rosie, Cara and Anna, which have been documented through repeated sightings.

The resort maintains records of these turtles, allowing returning guests to identify individuals over time. Guests may also contribute to this initiative by naming newly identified turtles that have not previously been recorded.

Manta ray season

From December to April, manta rays are known to visit cleaning stations at Bodu Hithi Thila, located approximately one hour by boat from the resort. During this period, ocean conditions support plankton flows that attract mantas to the area, where they can be observed feeding or visiting cleaning stations.

Night diving experiences

Night snorkelling and diving activities provide a different perspective on reef activity. Species such as reef sharks, trevallies, moray eels and nurse sharks become more active after dark, offering guests the opportunity to observe nocturnal marine behaviour.

At Eri Maldives, marine experiences form a central part of the guest offering, with the house reef providing consistent opportunities for exploration. The resort’s dive programme is designed to support repeated interaction with the marine environment, allowing guests to experience a range of underwater activity throughout their stay.

Accommodation is available in studio and beach villa categories, with full board packages offered for direct bookings, subject to availability.

Featured

The Halcyon Private Isles Maldives collaborates with Maldivian artist Ahmed Aleem

Published

4 days ago

April 2, 2026

m@ldives

The Halcyon Private Isles Maldives, Autograph Collection has announced a collaboration with Ahmed Aleem Shakoor, who is currently in residence at the resort, introducing a creative element to the guest experience.

Aleem, a self-taught artist, is known for work that combines maritime themes, surrealism and symbolism. His practice spans watercolours, acrylics and mixed media, drawing inspiration from the Maldives’ history and ocean landscapes, often expressed through the use of light, depth and narrative.

During his residency, Aleem is working with the resort to develop a series of artistic and cultural experiences aimed at engaging guests. These include live painting sessions, informal interactions with the artist and workshops designed to encourage creative participation.

The programme forms part of the resort’s wider activities, with offerings such as mini canvas painting, coconut painting and creative art sessions available to guests. In addition, Tales Painted in Sunlight combines elements of Maldivian folklore, storytelling and visual art, providing further insight into local culture.

The collaboration reflects the resort’s approach to incorporating local artistic talent into its programming, while offering guests opportunities to engage with creative activities in a relaxed setting. The residency is designed to allow guests to explore artistic expression as part of their island experience.

As part of its seasonal programme, selected artistic activities are also included in the resort’s Easter offerings, providing additional opportunities for guests to take part in creative experiences during their stay.

Awards

Amilla Maldives wins ‘Most OutThere Initiative’ award for Inclusive Travel

Published

5 days ago

April 1, 2026

m@ldives

Amilla Maldives has been named a joint winner in the Most OutThere Initiative in Inclusive Travel category at the Experientialist Awards 2026, following a Highly Commended recognition in the same category in 2025.

The Experientialist Awards recognise organisations shaping travel through inclusivity, individuality and design, with the inclusive travel category highlighting initiatives that address not only accessibility, but also how journeys are experienced by guests.

At Amilla Maldives, accessibility is integrated into the overall guest experience. The resort adopts an approach that begins at the planning stage and continues throughout the stay, with a focus on understanding individual guest needs and adapting experiences accordingly.

Aligned with its In Harmony with Purpose philosophy, the resort has introduced a range of measures aimed at improving accessibility. These include villa features designed for ease of use, accessible pathways across the island and adaptive experiences such as inclusive snorkelling and wellness sessions.

As an IncluCare Verified resort, Amilla Maldives continues to develop its offering through feedback and collaboration, with the aim of enhancing inclusivity across its operations.

Commenting on the recognition, Morgan Martinello said the resort remains focused on creating travel experiences that feel natural and accessible. He noted that the continued recognition reflects the resort’s ongoing efforts to improve inclusivity.

The award from OutThere, a platform focused on diversity and inclusion in travel, marks a further step in the resort’s efforts to create accessible and inclusive guest experiences.