30 Sep 2026

Welcome to Volume 2, Issue 3 (Q3 2026) of Maldives Economy Today.

This third quarter of 2026 has mainly been dominated by discussions surrounding foreign exchange and the price of the US dollar in the domestic market.

While first time contributor Ali Rashwan Mohamed explores how the parallel market’s effect on inflation, and the daily lives of Maldivians, are not meaningfully reflected in policy conversations on either side of the political aisle, Ahmed Mohamed examines the regulatory disconnect and the unique position the US dollar occupies in the Maldives economy.

Abdul Haleem Abdul Latheef lays the groundwork of considering the Maldives’ unique needs before rushing towards de-dollarisation and remedies that have succeeded on other shores.

Mohamed Mamduh meanwhile calls for focus on the critical issues ailing the Maldivian economy which, along with the rising cost of living associated with the US dollar, also include creating space for investment while addressing state policy around skills, employment and SOE reforms.

Shifting away to other important developments; with the USD20 billion RasMalé project dominating the conversation in week 39 of 2026, Policy Ledger sifts through the headlines and the accessible small print to attempt to piece together project benefits, and ramifications for current and future generations of Maldivians.

Finally, in this issue, Ahmed Mohamed cautions against mistaking winning the battle for winning the war. Even as the Maldives has successfully met some of its biggest debt obligations due this year, there is a long way to go before the nation is no longer beholden to debt.

As always, Maldives Economy Today strives to provide accessible, balanced and well-researched analysis that contributes to informed public discourse. We hope our explorations in this issue serve not only as a source of information but also as a catalyst for constructive dialogue among policymakers, businesses, academics and the wider public.

We continue to welcome your feedback and encourage you to share our stories and broaden discussions on the Maldives’ economy.

Ibrahim Hussain Shihab
Editor