Indonesia has disbursed Rp333.6 billion (approximately US$18 million) in funding raised through Sovereign Sukuk, known locally as Government Sharia Securities (SBSN), to support a range of development projects in Bali and surrounding regions.
The World Bank says recent foreign exchange and fiscal reforms have strengthened the Maldives’ financial position, while warning that continued discipline will be needed to maintain economic stability.
Fitch Ratings, one of the world’s largest credit rating agencies, has upgraded the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘CC’ to ‘CCC-’.
