Maldives

The Maldives was long a sultanate, first under Dutch and then under British protection. It became a republic in 1968, three years after independence. President Maumoon Abdul GAYOOM dominated the islands' political scene for 30 years, elected to six successive terms by single-party referendums. Following riots in the capital Male in August 2004, the president and his government pledged to embark upon democratic reforms including a more representative political system and expanded political freedoms. Progress was sluggish, however, and many promised reforms were slow to be realized. Nonetheless, political parties were legalized in 2005. In June 2008, a constituent assembly - termed the "Special Majlis" - finalized a new constitution, which was ratified by the president in August. The first-ever presidential elections under a multi-candidate, multi-party system were held in October 2008. GAYOOM was defeated in a runoff poll by Mohamed NASHEED, a political activist who had been jailed several years earlier by the former regime. Challenges facing the new president include strengthening democracy and combating poverty and drug abuse. Maldives officials have been prominent participants in international climate change talks due to the islands' low elevation and the threat from sea-level rise.

Economical characteristics

 * Currency: Maldivian Rufiyaa (ISO code: MVR)
 * Central bank discount rate: 13% (31 December 2008)
 * Commercial banks lending rate: 13% (31 October 2009)
 * Stock of money (M1): $460 million (31 October 2009)
 * Quasi money (with M1 makes M2): $488 million (31 October 2009)

Links

 * Maldives on Wikipedia
 * Central bank of Maldives
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile
 * From Soccer to Fiscal Responsibility Laws, Brazil’s Impact on the Maldives by Ian Lienert, April 2010