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Maldives Vows Carbon Neutrality by 2020

President Mohamed Nasheed of Maldives proclaimed that his country will spend $1.1 billion to obtain carbon neutrality by 2020.

President Mohamed Nasheed of Maldives proclaimed that his country will spend $1.1 billion to obtain carbon neutrality by 2020. Although the Maldivian economy only generates around $800 million a year, mostly from tourism, the new plan will convert the state-owned electricity company to become privatized, allowing investors and donors to help fund the plan. This will allow additional financing to heavily invest in wind turbines and will slowly remove the dependence on foreign oil. The plan is expected to pay for itself within ten years. Mark Lynas, an economist who has been working with the Maldivian government, commented on the plan by saying "the point of doing it is that it is something that Maldives can lead the world in... no country has the excuse that it is too expensive and we can't do anything about it".

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Major Risks To Maldives Economy: ADB

Maldives is facing a number of concerns that pose serious threats to its economy.

Maldives is facing a number of concerns that pose serious threats to its economy. A report from the American Development Bank reported such issues as inflation pressures, a skills deficit among the young, "bloated" fiscal deficits, and excessive government spending. The report also said that if changes are not made, economic growth is not possible.

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Inflation Rate Has Increased in February

The ministry of planning has said that compare to the January last year, the inflation rate has increased 10.63 more January this year.

The ministry of planning has said that compare to the January last year, the inflation rate has increased 10.63 more January this year. The products that are generated in the country have been on the rise since past quarter. This includes dairy products and commodities such as lime and banana.

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MDP Primary Campaign Updates in Economy

The Maldivian Democratic Party (MDP) rose economy in top of their campaign’s agenda; it includes economic plans in six key areas.

The Maldivian Democratic Party (MDP) rose economy in top of their campaign's agenda; it includes economic plans in six key areas. Dr Mohamed Munavvar, the president of the MDP, protested against the actual government's failures on wealth distribution and economic diversification.

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