Maldives state of emergency threatens growth
Tourism accounts for one-third of economic output and previous political disruptions have negatively affected GDP growth, says Moody’s Investors Service.
12 Feb 2018, 9:00 AM
The Maldives state of emergency will hit the country’s economic growth if tourists are deterred from travelling there for a prolonged period, Moody’s Investors Service warned Monday.
Tourism accounts for one-third of economic output and previous political disruptions have negatively affected GDP growth, it said.
A state of emergency lasting 15 days was declared on February 5 by President Abdulla Yameen, who ignored a Supreme Court order issued days earlier to release political prisoners. Instead he rounded up even more of his opponents, threw them in prison, arrested two top judges and suspended around 20 constitutional rights.
His actions triggered widespread condemnation and a barrage of government travel advisories from key tourist markets including China and the UK.
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