The government's official reserves increased to US$795.83 million at the end of February.
Statistics released by the central bank, the Maldives Monetary Authority (MMA), show official reserves increased in February compared to January this year. The reserve had US$789.97 at the end of January.
Although official reserves increased, usable reserves declined during this period. Short-term debt stood at US$560.35 million at the end of February. Therefore, the usable reserves stood at US$235.48 million at the end of February. The usable reserve was at US$253.76 at the end of January.
The Finance Ministry estimates that official reserves will stand at $606.3 million by the end of the year.
