Maldives is facing deep financial crisis, severe shortage of foreign exchange. Tourism is doing well, but still having problems with inherited debts.
Last week the Government announced the handing over the management of IGMH hospital for Apollo Hospitals India
As per Miadhu news
Maldives will privatize its airport but could also sell down other state enterprises and bring private capital to a domestic bank, the International Monetary Fund has said. “A central plank will be the privatization of the airport, but stakes in the telecommunications company have already been sold and other enterprises and services (such as electricity, water and sewage) could also be divested,” the IMF said in a report.
Other health facilities like the Thalassemic Center, Villingily Health Center, Hulhumale Health centre will also be handed over to private parties to manage. Government of Maldives is selling its stake which they hold on Telecom company Dhiraagu, Male’ International Airport, Bank of Maldives are also in the list.
Speaking at a press conference today, Finance Minister Ali Hashim said the government employed international bank HSBC as a financial advisor on the share sale to provide a valuation review.
Hashim said the US$40 million will be used to improve the balance of payments.
To improve the economic situation, the Government has also done pay cuts and even layoffs.
Hopefully Maldives recover from this financial crisis soon and get back to normal
