AGP Executive Report

Road Safety: More than 2,300 traffic accidents have been reported this year, including 96 in October. A crash in Kulhudhuffushi injured two motorcyclists and a child. Opposition Politics: Presidential hopeful Faisal Naseem says former President Ibrahim Mohamed Solih supports his MDP primary bid, though Solih has not publicly endorsed a candidate. India Ties: India approved a rollover of the Maldives’ INR 30 billion currency swap facility, set to take effect on October 23, to support financial stability. Pakistan Visit: Officials reviewed preparations for President Mohamed Muizzu’s October 20 visit, expected to advance cooperation in trade, health, education and tourism. Women’s Tennis: The Maldives team has arrived in Islamabad for the Billie Jean King Cup Asia/Oceania Group III, beginning October 21. Economic Outlook: The economy grew 2.4% year-on-year in August, with financial services, retail and construction among the drivers. Flydubai Probe: Two Maldivian pilots remain in UAE custody as investigators examine a suspected plot; their knowledge or involvement has not been established.

Financial Stability: India has approved a rollover of the Maldives’ INR 30 billion currency swap, effective October 23, to support liquidity. Malé thanked New Delhi, describing the move as a sign of close ties. Economy: Output grew 2.4% year-on-year in August, led by financial services, trade and real estate; tourism remained the largest sector. Local Governance: Former Vice President Faisal Naseem and Malé Mayor Adam Azim questioned the government’s plan to reclaim 14 plots from the city council, including Sultan Park and the Fish Market. Food Security: President Muizzu called for more local production and resilient food systems, saying they are vital to national resilience. Regional Ties: The Maldives’ detention of 25 Indian fishermen has prompted families to seek help from New Delhi, while two Maldivian pilots have been detained in the UAE as a probe into an alleged flydubai cockpit attack widens. Sport: The women’s tennis team has arrived in Islamabad for the Billie Jean King Cup regional tournament, which begins October 21.

Financial Support: India has approved a rollover of the Maldives’ INR 30 billion currency-swap facility, an arrangement both governments say helps support financial stability. Fishermen Detained: The Maldives Coast Guard’s detention of 25 Tamil Nadu fishermen and three boats has prompted Chief Minister Vijay to ask India to seek their release and safe return. Rasmale’ Debate: Former president Abdulla Yameen says signing the proposed project agreement before drafting the required law risks breaching existing legal safeguards; the government’s plans remain under scrutiny. Tourism and Heritage: The Maldives is targeting 2.5 million visitors as it works to expand connectivity and resort capacity, while its bid to secure UNESCO status for seven coral-stone mosques has completed an international assessment; a decision is expected in 2027. Flydubai Investigation: Two Maldivian pilots have been detained in the UAE as investigators widen a probe into an alleged attack involving a Flydubai flight; the circumstances remain under investigation.

Fishermen Detained: The Maldives Coast Guard has detained 25 Tamil Nadu fishermen and three boats in Maldivian waters. Tamil Nadu Chief Minister Vijay has asked India’s foreign minister to seek their release, while India’s High Commission says it will assist through due process. Heritage: The Maldives has completed international assessments of seven historic coral-stone mosques nominated for UNESCO World Heritage status; a decision is expected in 2027. Politics: The opposition MDP has backed a constitutional overhaul that would split the executive into separate head-of-state and head-of-government roles. Public Health: A report warns of growing methamphetamine use in the Maldives and associated health risks, including HIV. State-Owned Companies: STELCO chief Ali Azwar has been appointed acting head of Fenaka, as the government moves ahead with plans to merge the utility into STELCO. Foreign Relations: President Mohamed Muizzu is due to visit Pakistan from October 20, with talks expected on bilateral cooperation and regional issues.

State-Owned Firms: STELCO chief Ali Azwar has taken over as acting head of Fenaka, while MTCC chief Ahmed Saudee will lead RDC as the government advances plans to merge both companies. Their former managing directors have been appointed state ministers. Rasmale’ Deal: The opposition MDP is demanding the government publish the terms of its Eagle Hills agreement for 500 hectares and hold a referendum. Pakistan Visit: President Muizzu is due in Islamabad on October 20–22, the first visit by a Maldivian leader in a decade, with trade, health and transport cooperation on the agenda. Fishermen Detained: The Maldives has detained 25 Indian fishermen and seized three boats; India’s High Commission says it will seek their release through due process. Food Security: Muizzu says boosting sustainable local farming can reduce import dependence and shield the country from price and supply shocks. Public Finances: Subsidy spending reached MVR 4.26 billion by October 8—MVR 1.37 billion above the annual budget allocation. Health: A growing methamphetamine problem is raising concerns about HIV risks, while the Health Protection Agency has launched an initiative to assess HIV awareness. Conservation: CROSSROADS’ 1.71-square-kilometre marine area has received official recognition, the largest OECM-designated area in the Maldives.

Economic Pressure: Official reserves fell 14.9% to USD 547 million at the end of September, while usable reserves dropped to USD 169.8 million. Former president Mohamed Nasheed says businesses are struggling to import goods and make overseas payments. Security and Sovereignty: The UAE has detained two Maldivian pilots as it investigates the alleged Flydubai cockpit attack; authorities have not disclosed the allegations against them. Separately, the Maldives detained 25 Indian fishermen and three boats over alleged fishing in its waters, prompting families to seek their release. Foreign Relations: President Mohamed Muizzu is due to visit Pakistan on October 20–22, with around a dozen agreements under discussion, including cooperation on health, education and direct flights. Investment Rules: Revised rules require at least 25% Maldivian ownership in several foreign-investment sectors, with some activities reserved for locals. Climate: The Met Office says El Niño strengthened sharply in September, with unusually warm seas and potential effects on rainfall and temperatures.

Sovereignty: The government says it will not allow foreign military or operational surveillance over Maldivian territory, amid reports that unauthorised vessels anchored near Malé. Foreign Relations: President Mohamed Muizzu is due to visit Pakistan on October 20–22, with talks expected on bilateral ties and regional issues; reports also say India has agreed to extend a $320 million currency swap for three months. Investment Rules: New rules require at least 25% Maldivian ownership in some foreign-backed construction, real estate, auditing and IT ventures, while reserving certain activities for locals. Public Finances: State spending has risen 18% to nearly MVR 36 billion, while tourism tax revenue is down 1.5% year on year. Accountability: Parliament’s Judiciary Committee will question Parole Board members over the release of convicted drug trafficker Abdulla Ibrahim, who was returned to prison after public outcry. Flydubai Probe: UAE authorities have reportedly detained two Maldivian pilots as they investigate an alleged cockpit attack; no charges or specific allegations have been made public. Fishing Dispute: Maldivian authorities detained 25 Indian fishermen and seized three boats in the country’s waters; families are appealing for their release.

Flydubai Probe: Two Maldivian pilots are reportedly in UAE custody over alleged links to an Omani co-pilot accused of attacking a captain aboard a Dubai–Tel Aviv flight. The UAE has not publicly detailed the allegations, and no charges have been announced. Maritime Security: The MNDF seized three foreign fishing vessels suspected of operating illegally in Maldivian waters. Separately, the Coast Guard detained 25 Indian fishermen and their boats; their families say strong winds pushed them across the maritime boundary and are seeking their release. Economic Pressure: The government is seeking international financial support as higher fuel costs and weaker tourism revenue strain the budget. Finance Minister Hassan Zareer said the deficit could reach 9% of GDP, while growth may slow to 1% this year. MIRA’s US-dollar revenue fell 15.6% year-on-year in September. Rasmale’ Debate: Religious scholars have raised concerns about the proposed waterfront project, citing possible risks to sovereignty, culture and economic autonomy, and asked the Islamic Affairs Minister to relay them to the President. Fisheries: MIFCO has raised its top skipjack tuna purchase price to MVR 22.75 per kilogram for deliveries exceeding eight tonnes.

Flydubai Probe: Two Maldivian pilots were detained in the UAE on October 3 as investigators examine their alleged links to a co-pilot accused of attacking a captain aboard a Dubai–Tel Aviv flight. Authorities have not confirmed the arrests or disclosed evidence against the men. Rasmale’ Project: The Supreme Court registrar rejected a petition seeking to block the proposed $20 billion Eagle Hills development on procedural grounds; the petitioner can appeal. The housing minister says safeguards will prevent Israeli nationals and entities from owning property there. Dollars and Revenue: MIRA’s US-dollar revenue fell 15.6% year-on-year in September. The MMA has limited the $1,000 medical travel allowance to six countries, after dollar sales for medical treatment reached $41.1 million through September—nearly triple last year’s total. Heritage: UNESCO has accepted the Maldives’ nomination of historic coral-stone mosques, and an international assessment visit is complete. A decision is expected in late 2027. Public Safety: Three Bangladeshi nationals were remanded after police seized 824 bottles of alcohol in a Male’ crackdown on an alleged distribution network.

Cultural Heritage: The Maldives has completed its assessment for a UNESCO bid covering seven historic coral stone mosques. A decision is expected in late 2027. Hajj: All pilgrims aged over 70 who have been in the queue for at least three years and paid by the end of 2023 are guaranteed a place next year. Student Health: Research found mental health concerns are most common among Grades 10–12, while a separate study found 28% of MNU students use e-cigarettes. Rasmale’ Deal: The opposition is seeking disclosure of the terms of Eagle Hills’ proposed $20 billion development, citing concerns over the agreement and public investment. Public Health: MFDA warned that health claims made in food advertising must be scientifically supported. Banking: Bank of Maldives has been included in Forbes’ inaugural ranking of the world’s top-performing banks, placing in Tier 6. Airport: Velana International Airport has earned nominations for two World Travel Awards, including the world’s leading airport and customer experience categories.

Rasmale’ Deal: The MDP is seeking public disclosure of the terms for Eagle Hills’ proposed $20 billion project, questioning whether the agreement protects the public’s investment in reclaimed land. The developer hopes to finalize the deal by November 11. Hajj: Maldivians aged 70 and above who have been in the queue for at least three years and paid by December 31, 2023, are guaranteed a place on next year’s pilgrimage. Tourism and Transport: Tourism Minister Mohamed Ameen says arrivals have recovered from an early 24% drop to just 1.3% below last year, with the government aiming to match 2025’s record. He also says a long-delayed helicopter service could launch soon. Saudi Security: The Foreign Ministry says no Maldivians were affected by recent attacks on Saudi airports; the Islamic Minister says authorities have issued no official warning to pilgrims. Public Safety: Police arrested three people and seized a large quantity of alcohol in a crackdown on an illegal liquor network in Malé. Airport Recognition: Velana International Airport has been nominated for two World Travel Awards, including the world’s leading airport and customer experience categories.

Tourism: Minister Mohamed Ameen says arrivals have recovered from an early 24% decline to just 1.3% below last year. The Maldives has welcomed 1.6 million visitors so far and needs about 200,000 a month for the next three months to match 2025’s record. Aviation: A helicopter service, intended partly for medical evacuations from islands without airports, could launch within one to two weeks under updated safety guidelines. State carrier Maldivian is seeking two Airbus A220-300s, with deliveries planned for 2027 and 2028. Public Finances: MIRA collected MVR 2.69 billion in September—12.7% above forecast but 10.7% below the same month last year, partly because of a one-off payment in 2025. Regional Relations: Pakistan says it is preparing for President Mohamed Muizzu’s visit, but no date or agreements have been announced. Health: A new community mental wellbeing centre in Kulhudhuffushi will offer early support, while the government says it is developing a comprehensive Mental Health Act. Infrastructure: Magoodhoo airport is expected to be the first of the country’s airports under development to be completed. Overseas Safety: The Foreign Ministry says no Maldivians were affected by attacks on Saudi airports and has advised citizens there to contact its hotline if they need help.

Foreign Affairs: The Maldives condemned the Houthi attack on Riyadh’s King Khalid International Airport, which killed at least 12 people and injured hundreds, and expressed solidarity with Saudi Arabia. Pakistan and the Maldives are also coordinating preparations for President Mohamed Muizzu’s forthcoming visit, though no date has been announced. Local Government: Applications are open until October 26 for candidates seeking the vacant V. Thinadhoo Council presidency; the by-election is set for November 28. Mental Health: A community wellbeing centre has opened in Kulhudhuffushi, while President Muizzu says the government is drafting a comprehensive Mental Health Act and national policy. Island Development: MTCC says F. Magoodhoo Airport is progressing rapidly and is expected to be the first among airports under development to be completed. Economy and Tourism: Moody’s upgraded the Maldives’ credit rating to Caa1 with a stable outlook. The government has also held talks with tourism leaders amid concerns over taxes and foreign exchange pressures.

Regional Development: MTCC says F. Magoodhoo airport is nearing completion, while work at HDh. Makunudhoo has only just begun. Public Services: STELCO has taken over electricity services in Addu and Haa Alifu as Fenaka’s operations are phased out. Mental Health: President Mohamed Muizzu says the government is drafting a comprehensive Mental Health Act and a national policy, alongside plans to expand services across the atolls. Politics: The MDP has opened applications for its national council elections on November 27. Pilgrimage Travel: Hajj Corporation plans direct Gan–Jeddah flights for umrah pilgrims during Ramadan, starting February 20. Regional Diplomacy: India and the United States are exploring joint port, maritime-security and digital-infrastructure projects in the Indian Ocean, including in the Maldives; Pakistan’s foreign minister also discussed President Muizzu’s forthcoming visit with the Maldivian foreign minister. Food Safety: MFDA says 34 people completed a Malé training programme on safe food handling and hygiene.

Mental Health: President Mohamed Muizzu says the government is drafting a comprehensive Mental Health Act and expanding services, including care in atolls and telehealth. He urged officials to listen to people with lived experience. Utilities: STELCO has taken over electricity services in Addu and Haa Alifu Atoll as the phased transfer of Fenaka’s operations continues. Politics: The MDP has opened nominations for its November 27 national council elections, with applications due by October 25. Travel: Hajj Corporation plans direct Gan–Jeddah flights for Umrah pilgrims during the final 15 days of Ramadan, starting February 20. Rasmale’: Eagle Hills chairman Mohamed Alabbar says the proposed project could generate 15,000 to 18,000 permanent jobs, alongside 40,000 jobs during construction. Safety: Autopsies confirmed that the Italian divers who died in a Maldives cave ran out of air.

Judicial Accountability: MDP MP Mohamed Ibrahim says the Judicial Service Commission must answer for the dismissal of three former Supreme Court judges, arguing the allegations against them were not proven. Finance: Bank of Maldives reported a record MVR 1.93 billion profit for the first nine months of 2026 and said it processed USD 2.86 billion in international payments, while providing customers USD 722 million in foreign currency. Business Rules: Authorities warned foreign-owned wholesale, retail and logistics firms that they face enforcement if they fail to meet new investment requirements. Crime: Four people, including three actors, were remanded for 15 days after a Villimalé anti-narcotics operation; police are also investigating a reported robbery in Galolhu. Tourism: The government signed an agreement to create tourism apprenticeships for young people. Diving Tragedy: Autopsy findings confirmed that five Italian divers who died in a Vaavu Atoll cave in May died from oxygen deprivation; how they became trapped remains unclear.