MoU with China for transactions in local currency

2 days ago

The government of Maldives has signed a Memorandum of Understanding (MoU) with the People’s Bank of China (PBOC) which establishes the framework for the settlement of current account transactions and direct investment in local currencies. With Maldives facing a shortage of US Dollars, the current administration is undertaking efforts to execute such agreements with friendly nations. The MoU signing with China’s central