Former Governor of the Maldives Monetary Authority (MMA), Dr Azeema Adam, has cautioned that the Maldives must prepare for the possibility of a sudden economic “storm”, including unexpected spikes in inflation. She delivered the warning while speaking today at the MMA Research Conference 2025, which is currently underway at Villa Nautica Paradise Island Resort.
Addressing a packed audience of policymakers, academics, and financial sector experts, Dr Azeema said shocks often hit without warning — especially in vulnerable small economies like the Maldives — and urged authorities to build stronger buffers and resilience.
“Storms usually come when we are least expecting them,” she said. “Sometimes they arrive when we are asleep, at a time when our cash flows are strained and our institutions are already exhausted by everyday challenges.”
A Call for Vigilance Amid Rising Economic Pressures
Dr Azeema stressed that Maldivians may not always question the possibility of major economic disruptions, but they feel the consequences immediately. She noted that households will worry about whether their salaries can cover basic food items, or whether their bank cards will carry the same purchasing power if inflation surges.
“It’s a very real concern,” she said. “People fear what will happen if something triggers a rapid change in the value of the MVR. That is why preparedness is critical. We must always be ready for what I call an economic typhoon.”
Her remarks come amid global concerns over inflationary pressures, rising commodity prices, and logistical disruptions that disproportionately affect small import-dependent nations like the Maldives.
Conference Highlights: Largest Research Forum to Date
Dr Azeema’s warning was delivered during one of the most anticipated discussion sessions of the MMA Research Conference 2025 — an event that has grown significantly since its launch last year.
This year’s conference:
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Draws 240 participants, the highest attendance recorded;
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Features 40 research papers, including contributions from over 20 international researchers;
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Serves as a platform for discussion on economics, financial stability, and policy innovations.
The two-day forum opened with the launch of The Island Economist, a new economic magazine published by the MMA, unveiled by Education Minister Dr Ismail Shafiu, the Chief Guest of the ceremony.
MMA Governor Ahmed Munawwar highlighted the central role of research in ensuring long-term sustainability, noting that each paper and discussion contributes to better policymaking and economic resilience.
The conference also saw the introduction of the MMA’s official research journal, The Maldives Journal of Economics and Finance, launched by Professor Aishath Muneeza of INCEIF University, Malaysia. Winners of the Tamveel Finlit Festival 2025 were also awarded during the event.
Building Stronger Systems for Future Stability
Dr Azeema’s remarks added a sobering note to an otherwise forward-looking conference agenda. She emphasised that proactive planning, risk assessment, and institutional readiness are essential for shielding the Maldivian economy from unpredictable global and domestic shocks.
“The real danger is assuming we are safe,” she said. “In a small and open economy like ours, shocks can travel fast. Preparedness is not optional — it is our only defence.”
