Parliamentary inquiry proposed into February 2012 transfer of power
Income tax proposals revealed
Whistleblower protection law passed
42 projects worth MVR1 billion (US$64.8 million) completed by the end of September
136 new projects worth MVR3.8 billion awarded through national tender
Some projects at design stage and yet to be mobilised
29 projects ongoing on 43 islands financed through foreign and domestic sources, including US$200 million granted by India as budget support and the sale of about MVR300 million worth of treasury bills
No decision on leasing the new seaplane terminal at Velana International Airport
The Sovereign Development Fund has grown from US$96.3 million as of September 30, 2018 to US$181 million by October 3 this year
Work ongoing on drafting legislation for managing the Sovereign Development Fund
Interest rate of loans offered through US$800 million line of credit from India is 1.5 percent
MVR24.1 million owed by the defunct Maldives Road Development Corporation to subcontractors paid
MVR15.2 million loaned to private parties as tsunami relief waived
MVR1 billion paid out by the state as compensation, including a US$18 million arbitration award to Nexbis, US$30 million payout ordered by Supreme Court to WLT and MVR7 million awarded by Supreme Court as damages for medical negligence
Foreign aid granted since November 2018 exceeds MVR3.2 billion
About MVR4 billion allocated for debt servicing this year, of which MVR2.1 billion is interest payments
Previous administration’s China-funded 7,000-flat social housing project was awarded to Chinese contractor at an “inflated price”
No direct negotiations so far to bring down the cost
2020 budget will include detailed debt sustainability plan
Economic growth “close to forecasts,” driven by tourism
Projects awarded to state-owned Maldives Transport and Contracting Company to help recover from 2018 losses of about MVR600 million
MTCC expected to create jobs and enlist local subcontractors
New terminal construction ongoing at VIA after work was stalled for two years. Disputes with financing agencies resolved through high-level talks.
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