Governor Mr. Ali Hashim has said that measures will be taken gradually and cautiously to solve the issue of US Dollar shortage in the Maldives economy.
Speaking at the Finance Committee of Parliament, Governor Ali Hashim stated measures will be implemented cautiously to evaluate the true effect of it on the economy.
“New regulations will be made under the current monetary law; including major changes to the monetary law, exchange rate, and licensing policy” Governor added.
The main aim of the changes will be to regulate the exchange rate, according to the Governor. Moreover, all local transactions will only be allowed in MVR as MMA tightens measures to regulate the US Dollar circulation in the economy.