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Maldives raises $178.9 mln coronavirus relief funds from India, IMF
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
Featured
Alila Kothaifaru Maldives marks June with sustainability and marine conservation initiatives
Alila Kothaifaru Maldives is reinforcing its commitment to environmental stewardship this June through a series of sustainability-focused initiatives and conservation experiences.
In celebration of World Environment Day on 5 June and World Ocean Day on 8 June, the management and team at Alila Kothaifaru Maldives took part in activities designed to promote awareness, education, and action in support of protecting the natural world, both above and below the waterline.
The programme began on World Environment Day, when team members came together for a tree planting activity on the island. Inspired by this year’s global theme, “Our Land, Our Future”, the initiative highlighted the vital connection between healthy ecosystems, biodiversity, and human wellbeing, while contributing to the resort’s ongoing efforts to preserve and enhance its natural environment.
Building on this momentum, the resort is continuing its sustainability journey throughout June with a series of marine conservation activities developed in collaboration with Euro-Divers Maldives. The programme began with Reef Awareness Day on 1 June, featuring a coral planting programme with the marine biologist. Participants contributed directly to reef restoration efforts while learning about the importance of coral ecosystems in maintaining ocean health.
On 8 June, guests and colleagues came together to mark World Ocean Day through a house reef clean-up dive and beach clean-up, helping to remove marine debris and protect the delicate reef ecosystem surrounding the island. The day concluded with Ocean Discovery Night – All About Sea Turtles, an educational session designed to deepen understanding of one of the Maldives’ most iconic marine species.
The sustainability programme continues with June Sea Turtle Week, held from 8 to 16 June, featuring immersive experiences that connect guests with marine conservation efforts. Highlights include a Turtle Reef Snorkelling Excursion with the marine biologist on 10 June, offering participants the opportunity to observe sea turtles in their natural habitat while learning about ongoing research and protection initiatives.
The programme will culminate on 16 June, coinciding with World Sea Turtle Day, with an interactive presentation dedicated to sea turtle conservation and the challenges these marine species face in today’s oceans.
“Education and engagement are powerful tools for conservation. Through our partnership with Alila Kothaifaru Maldives, we aim to inspire greater appreciation for the underwater world while encouraging responsible interactions with marine life. Whether planting corals, participating in reef clean-ups, or learning about sea turtles, guests have the opportunity to make a positive impact while experiencing the extraordinary biodiversity of the Maldives,” said Igor Semenov, Dive Centre and Watersports Manager of Euro-Divers at Alila Kothaifaru Maldives.
“Sustainability lies at the heart of the Alila experience. From preserving our island’s natural landscape to protecting the vibrant marine ecosystems that surround us, we are committed to creating meaningful opportunities for our guests to connect with nature and become active participants in conservation. Our World Environment Day and World Ocean Day initiatives reflect our belief that every small action can contribute to a healthier planet for future generations,” said Thomas Weber, General Manager of Alila Kothaifaru Maldives.
Through these initiatives, Alila Kothaifaru Maldives continues to champion responsible tourism and environmental conservation. The resort’s sustainability programme fosters meaningful connections between guests and the natural environment while supporting the protection of the Maldives’ unique ecosystems for generations to come.
The resort continues to share updates on its sustainability initiatives, marine conservation programmes, and immersive guest experiences through its Instagram account as part of its ongoing journey to protect the natural beauty of the Maldives.
Excursions
Anantara Maldives celebrates 10,000 coral milestone with Dr Oriana Migliaccio
The coral-ringed islands of the Maldives have long been associated with celebration. As Anantara Hotels & Resorts marks 25 years of locally rooted experiences, Dr Oriana Migliaccio, Resident Marine Biologist at Anantara Dhigu Maldives Resort, Anantara Veli Maldives Resort and Naladhu Private Island Maldives, is also marking a milestone of her own by overseeing the planting of the 10,000th baby coral.
With a PhD in Life and Biomolecular Sciences and a lifelong dedication to the sea, Oriana has found herself in the setting she had long hoped her studies would lead to: immersed in nature from sunrise to sunset, and often long after, when she guides guests through the otherworldly beauty of night-time dives. For travellers who arrive in the Maldives seeking luxury, time with Oriana often shifts the focus. Her enthusiasm and sense of purpose draw in guests of all ages, from families to spa devotees, inviting them to discover the living soul of the reef.
Oriana’s journey began in Naples, where beachcombing with her mother and grandmother first sparked her fascination with the ocean. As she listened to stories of a Mediterranean once rich with seahorses and sponges, she became determined to understand the reasons behind their disappearance. Years later, during her Open Water certification in the Red Sea, that early curiosity developed into a clear sense of purpose. Taking her first breath underwater, she descended into a world of coral polyps, weightless among creatures she had previously only read about. When a Napoleon wrasse drifted past, calmly observing her, she knew she had found her calling.
“Pursuing a PhD was never just about academia. It was about gaining the tools to become a voice for the ocean and dedicating my life to protecting what first inspired me as a child.”
For Oriana, becoming a voice for a force as powerful, little understood, and vulnerable to human impact as the ocean begins with education. One of her proudest achievements is the creation of the ‘Reef Hero’ PADI speciality, a course that teaches divers the fundamentals of coral conservation. Under her mentorship, guests often experience a change in perspective, moving from passive observers to active protectors.
“You can literally see the moment when curiosity turns into care. When a guest realises that their actions — how they dive, what they touch — can protect an ecosystem, they stop being just visitors and become guardians.”
Life on pristine islands can shield travellers from the realities of pollution, a contrast that is not always shared by local communities. In her workshops, Oriana helps bridge that gap by showing guests how abandoned ghost nets, among the most recognisable symbols of environmental harm, can be transformed into bracelets. By turning these marine threats into keepsakes, she creates opportunities for conversations about responsibility, renewal, and the impact of individual choices.
Her work is part of a wider network of Anantara sustainability champions whose efforts span the globe. Together, they contribute to Anantara’s HARP initiative, or Holistic Approach to Reef Protection. Since 2017, Oriana has personally overseen the growth of more than 10,000 corals. Guests often check in on their adopted corals through underwater camera streams, but it is the return visits years later that resonate most, when they see their once-small coral saplings transformed into thriving clusters.
Children find this work especially meaningful, as they begin to see themselves as future custodians of the sea. Through Oriana’s ‘Marine Biology for Kids’ sessions, young guests learn to view the water as mother ocean, a living presence that shapes their world and deserves their care. Their questions often stay with her. One child once asked, “If the ocean is alive, can it feel when we hurt it?” For Oriana, such questions show how naturally children combine science with empathy, offering a perspective from which adults can also learn.
“Their curiosity gives me hope, because they see the ocean not as a resource, but as a living entity worth protecting simply because it exists and is alive. That mindset is exactly what the future needs.”
In a nation where rising seas and warming waters remain constant concerns, preserving biodiversity offers a sense of agency. For visitors and local communities alike, taking part in restoration work becomes a way to respond to environmental changes that can otherwise feel overwhelming in scale and speed, grounding their efforts in something hopeful and tangible.
“In the Maldives, sustainability is not optional; it is survival. My vision is to leave behind a lagoon that is healthier, more resilient, and more alive than the one we found.”
Featured
W Maldives launches Escape Remix for a two-sided island getaway
W Maldives has unveiled Escape Remix, a new stay experience designed for guests seeking to experience different sides of island life, from the tranquillity of overwater living to the laidback glamour of a beachfront escape.
Available from June 2026 onwards as a permanent offering, Escape Remix allows guests to move between the Superior Overwater One-Bedroom Villa and the Escape Beach One-Bedroom Villa within one curated island getaway.
Created for travellers seeking variety without compromise, the experience includes a four-night stay split between two nights in the overwater villa and two nights in the beach villa. It also includes daily buffet breakfast for two adults and a selection of signature island benefits, giving guests distinct perspectives of the destination while maintaining comfort and luxury throughout their stay.

At the centre of the experience is the opportunity to discover the Maldives from two different settings. Suspended above clear lagoon waters, the Superior Overwater One-Bedroom Villa offers ocean views, direct access to the sea, a private pool, and a W Maldives signature overwater hammock designed for leisurely afternoons above the Indian Ocean. Guests can also access the resort’s award-winning house reef directly from the villa deck, where marine life can be explored just moments from their accommodation.
On shore, the Escape Beach One-Bedroom Villa offers a more barefoot island rhythm. Surrounded by tropical greenery and direct beach access, the villa features a private pool and an elevated upper deck with a swinging daybed for golden-hour lounging. Guests staying beachside can also access the same award-winning house reef directly from the shoreline, creating a connection between island living and underwater discovery.
“Luxury travel today is about having the freedom to experience a destination in different ways, all within one journey,” said Amila Handunwala, General Manager of W Maldives. “Escape Remix was created for guests who want to fully immerse themselves in the Maldives while experiencing contrasting yet complementary experiences, from the serenity of overwater living to the lively energy of a beachfront escape, all infused with the bold spirit of W Maldives.”

Beyond the villas, Escape Remix includes a series of additions designed to enhance the stay. Guests receive complimentary soda refreshments from the in-room MixBar, complimentary use of snorkelling gear, access to non-motorised water sports, and a one-time 30-minute photoshoot with the resort’s in-house photographer, including one printed photograph.
Following its recent transformation, W Maldives continues to position itself within the contemporary luxury segment through design, immersive experiences, and a social island atmosphere. Guests can dine across the resort’s five restaurants and bars, unwind with treatments at the overwater AWAY Spa, or take part in a castaway experience at Gaathafushi, the resort’s private island.
As a five-star resort in the Maldives known for its distinctive personality and approach to luxury, W Maldives continues to expand its guest experiences beyond the conventional island stay.
Blending overwater tranquillity with beachfront freedom, Escape Remix introduces a new way to experience W Maldives, offering guests a more dynamic and personalised stay. Travellers looking to extend their visit can also book the Original Wavemaker package, which includes shared seaplane transfers and a half-board meal plan for two adults.
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