Because of Maldives’ heavy

Because of Maldives’ heavy dependence on imports, government expenditures ballooned given the steep rise in global fuel and commodity prices triggered by Russia’s invasion of Ukraine in 2022, the US State Department said in its report for 2024 Fitch Rating gave “junk” status to the Maldives in August, citing the government’s inability to repay a US$ 500 million Sukuk due in 2026.Sukuk is an Islamic Shariah-compliant debt instrument. The dollar-denominated Sukuk fell to a record low of 70 cents to the dollar, down from about 93 cents in June casing panic. แทงบอลยูโร