Maldives Should Raise More Funds to Ease Crisis, World Bank Says

The Maldives is no longer facing an immediate risk of a default and the island nation should focus on reducing spending and raising funds from friendly countries to avoid a crisis, according to the World Bank.

“Our baseline assumption is that everything is rescheduled as needed or repaid as planned,” Franziska Ohnsorge, a South Asia economist at the World Bank, said in an interview. Delays in reforms and debt negotiations would pose risks and hurt economic growth, she said.