Currently released so far... 97115 / 251,287
Articles
Brazil
Sri Lanka
United Kingdom
Sweden
00. Editorial
United States
Latin America
Egypt
Jordan
Yemen
Thailand
Browse latest releases
2010/12/01
2010/12/02
2010/12/03
2010/12/04
2010/12/05
2010/12/06
2010/12/07
2010/12/08
2010/12/09
2010/12/10
2010/12/11
2010/12/12
2010/12/13
2010/12/14
2010/12/15
2010/12/16
2010/12/17
2010/12/18
2010/12/19
2010/12/20
2010/12/21
2010/12/22
2010/12/23
2010/12/25
2010/12/26
2010/12/27
2010/12/28
2010/12/29
2010/12/30
2011/01/01
2011/01/02
2011/01/04
2011/01/05
2011/01/07
2011/01/09
2011/01/11
2011/01/12
2011/01/13
2011/01/14
2011/01/15
2011/01/16
2011/01/17
2011/01/18
2011/01/19
2011/01/20
2011/01/21
2011/01/22
2011/01/23
2011/01/24
2011/01/25
2011/01/26
2011/01/27
2011/01/28
2011/01/29
2011/01/30
2011/01/31
2011/02/01
2011/02/02
2011/02/03
2011/02/04
2011/02/05
2011/02/06
2011/02/07
2011/02/08
2011/02/09
2011/02/10
2011/02/11
2011/02/12
2011/02/13
2011/02/14
2011/02/15
2011/02/16
2011/02/17
2011/02/18
2011/02/19
2011/02/20
2011/02/21
2011/02/22
2011/02/23
2011/02/24
2011/02/25
2011/02/26
2011/02/27
2011/02/28
2011/03/01
2011/03/02
2011/03/03
2011/03/04
2011/03/05
2011/03/06
2011/03/07
2011/03/08
2011/03/09
2011/03/10
2011/03/11
2011/03/13
2011/03/14
2011/03/15
2011/03/16
2011/03/17
2011/03/18
2011/03/19
2011/03/20
2011/03/21
2011/03/22
2011/03/23
2011/03/24
2011/03/25
2011/03/26
2011/03/27
2011/03/28
2011/03/29
2011/03/30
2011/03/31
2011/04/01
2011/04/02
2011/04/03
2011/04/04
2011/04/05
2011/04/06
2011/04/07
2011/04/08
2011/04/09
2011/04/10
2011/04/11
2011/04/12
2011/04/13
2011/04/14
2011/04/15
2011/04/16
2011/04/17
2011/04/18
2011/04/19
2011/04/20
2011/04/21
2011/04/22
2011/04/23
2011/04/24
2011/04/25
2011/04/26
2011/04/27
2011/04/28
2011/04/29
2011/04/30
2011/05/01
2011/05/02
2011/05/03
2011/05/04
2011/05/05
2011/05/06
2011/05/07
2011/05/09
2011/05/10
2011/05/11
2011/05/12
2011/05/13
2011/05/14
2011/05/15
2011/05/16
2011/05/17
2011/05/18
2011/05/19
2011/05/20
2011/05/21
2011/05/22
2011/05/23
2011/05/24
2011/05/25
2011/05/26
2011/05/27
2011/05/28
2011/05/29
2011/05/30
2011/05/31
2011/06/01
2011/06/02
2011/06/03
2011/06/04
2011/06/05
2011/06/06
2011/06/07
2011/06/08
2011/06/09
2011/06/10
2011/06/11
2011/06/12
2011/06/13
2011/06/14
2011/06/15
2011/06/16
2011/06/17
2011/06/18
2011/06/19
2011/06/20
2011/06/21
2011/06/22
2011/06/23
2011/06/24
2011/06/25
2011/06/26
2011/06/27
2011/06/28
2011/06/29
2011/06/30
2011/07/01
2011/07/02
2011/07/04
2011/07/05
2011/07/06
2011/07/07
2011/07/08
2011/07/10
2011/07/11
2011/07/12
2011/07/13
2011/07/14
2011/07/15
2011/07/16
2011/07/17
2011/07/18
2011/07/19
2011/07/20
2011/07/21
2011/07/22
2011/07/23
2011/07/25
2011/07/27
2011/07/28
2011/07/29
2011/07/31
2011/08/01
2011/08/02
2011/08/03
2011/08/05
2011/08/06
2011/08/07
2011/08/08
2011/08/10
2011/08/11
2011/08/12
2011/08/13
2011/08/15
2011/08/16
2011/08/17
2011/08/19
2011/08/21
2011/08/22
2011/08/23
2011/08/24
2011/08/25
Browse by creation date
Browse by origin
Embassy Athens
Embassy Asuncion
Embassy Astana
Embassy Asmara
Embassy Ashgabat
Embassy Apia
Embassy Antananarivo
Embassy Ankara
Embassy Amman
Embassy Algiers
Embassy Addis Ababa
Embassy Accra
Embassy Abuja
Embassy Abu Dhabi
Embassy Abidjan
Consulate Auckland
Consulate Amsterdam
Consulate Alexandria
Consulate Adana
American Institute Taiwan, Taipei
Embasy Bonn
Embassy Bujumbura
Embassy Buenos Aires
Embassy Budapest
Embassy Bucharest
Embassy Brussels
Embassy Bridgetown
Embassy Brazzaville
Embassy Bratislava
Embassy Brasilia
Embassy Bogota
Embassy Bishkek
Embassy Bern
Embassy Berlin
Embassy Belmopan
Embassy Belgrade
Embassy Beirut
Embassy Beijing
Embassy Banjul
Embassy Bangui
Embassy Bangkok
Embassy Bandar Seri Begawan
Embassy Bamako
Embassy Baku
Embassy Baghdad
Consulate Belfast
Consulate Barcelona
Embassy Cotonou
Embassy Copenhagen
Embassy Conakry
Embassy Colombo
Embassy Chisinau
Embassy Caracas
Embassy Canberra
Embassy Cairo
Consulate Curacao
Consulate Ciudad Juarez
Consulate Chiang Mai
Consulate Chennai
Consulate Chengdu
Consulate Casablanca
Consulate Cape Town
Consulate Calgary
Embassy Dushanbe
Embassy Dublin
Embassy Doha
Embassy Djibouti
Embassy Dili
Embassy Dhaka
Embassy Dar Es Salaam
Embassy Damascus
Embassy Dakar
DIR FSINFATC
Consulate Dusseldorf
Consulate Durban
Consulate Dubai
Consulate Dhahran
Embassy Guatemala
Embassy Grenada
Embassy Georgetown
Embassy Gaborone
Consulate Guayaquil
Consulate Guangzhou
Consulate Guadalajara
Embassy Helsinki
Embassy Harare
Embassy Hanoi
Consulate Hong Kong
Consulate Ho Chi Minh City
Consulate Hermosillo
Consulate Hamilton
Consulate Hamburg
Consulate Halifax
Embassy Kyiv
Embassy Kuwait
Embassy Kuala Lumpur
Embassy Kolonia
Embassy Kinshasa
Embassy Kingston
Embassy Kigali
Embassy Khartoum
Embassy Kathmandu
Embassy Kampala
Embassy Kabul
Consulate Krakow
Consulate Kolkata
Consulate Karachi
Consulate Kaduna
Embassy Luxembourg
Embassy Lusaka
Embassy Luanda
Embassy London
Embassy Lome
Embassy Ljubljana
Embassy Lisbon
Embassy Lima
Embassy Lilongwe
Embassy Libreville
Embassy La Paz
Consulate Leipzig
Consulate Lahore
Consulate Lagos
Mission USOSCE
Mission USNATO
Mission UNESCO
Mission Geneva
Embassy Muscat
Embassy Moscow
Embassy Montevideo
Embassy Monrovia
Embassy Mogadishu
Embassy Minsk
Embassy Mexico
Embassy Mbabane
Embassy Maseru
Embassy Maputo
Embassy Manila
Embassy Manama
Embassy Managua
Embassy Malabo
Embassy Madrid
Consulate Munich
Consulate Mumbai
Consulate Montreal
Consulate Monterrey
Consulate Milan
Consulate Merida
Consulate Melbourne
Consulate Matamoros
Consulate Marseille
Embassy Nouakchott
Embassy Nicosia
Embassy Niamey
Embassy New Delhi
Embassy Ndjamena
Embassy Nassau
Embassy Nairobi
Consulate Nuevo Laredo
Consulate Naples
Consulate Naha
Consulate Nagoya
Embassy Pristina
Embassy Pretoria
Embassy Praia
Embassy Prague
Embassy Port Of Spain
Embassy Port Moresby
Embassy Port Louis
Embassy Port Au Prince
Embassy Podgorica
Embassy Phnom Penh
Embassy Paris
Embassy Paramaribo
Embassy Panama
Consulate Ponta Delgada
Consulate Peshawar
REO Mosul
REO Kirkuk
REO Hillah
REO Basrah
Embassy Rome
Embassy Riyadh
Embassy Riga
Embassy Reykjavik
Embassy Rangoon
Embassy Rabat
Consulate Rio De Janeiro
Consulate Recife
Secretary of State
Embassy Suva
Embassy Stockholm
Embassy Sofia
Embassy Skopje
Embassy Singapore
Embassy Seoul
Embassy Sarajevo
Embassy Santo Domingo
Embassy Santiago
Embassy Sanaa
Embassy San Salvador
Embassy San Jose
Consulate Surabaya
Consulate Strasbourg
Consulate St Petersburg
Consulate Shenyang
Consulate Shanghai
Consulate Sapporo
Consulate Sao Paulo
Embassy Tunis
Embassy Tripoli
Embassy Tokyo
Embassy Tirana
Embassy The Hague
Embassy Tel Aviv
Embassy Tehran
Embassy Tegucigalpa
Embassy Tbilisi
Embassy Tashkent
Embassy Tallinn
Consulate Toronto
Consulate Tijuana
Consulate Thessaloniki
USUN New York
USMISSION USTR GENEVA
USEU Brussels
US Office Almaty
US Mission Geneva
US Mission CD Geneva
US Interests Section Havana
US Delegation, Secretary
US Delegation FEST TWO
UNVIE
UN Rome
Embassy Ulaanbaatar
Embassy Vilnius
Embassy Vientiane
Embassy Vienna
Embassy Vatican
Embassy Valletta
Consulate Vladivostok
Consulate Vancouver
Browse by tag
AF
ADANA
ASEC
AFIN
AMGT
AE
AORC
AID
AR
AO
AU
ASEAN
AGOA
AFGHANISTAN
AFFAIRS
AMED
APER
ASECARP
APEC
AEMR
AS
AA
ANET
AFLU
ABLD
AL
ASUP
AJ
APECO
AMER
ABUD
AODE
AM
AFSN
AESC
AND
AG
ALOW
AROC
AVIANFLU
ATRN
ACOA
AEGR
AMGMT
AADP
AFSI
ACABQ
APRM
AZ
AIDS
ASE
AGAO
ADCO
ABDALLAH
ARF
AIDAC
ACOTA
ASCH
AC
ASEG
AGR
ACS
AMCHAMS
AN
AMIA
ASIG
ADPM
ADB
ANARCHISTS
ALOWAR
ARM
AUC
AINF
AINT
AORG
AY
AVIAN
AMEDCASCKFLO
AK
ARSO
ARABBL
ASO
ANTITERRORISM
ARABL
AOWC
AGRICULTURE
ALJAZEERA
AMTC
AFINM
AOCR
ABER
ARR
AFPK
ASSEMBLY
ASSK
AZE
AORCYM
AINR
AGMT
AEC
ACKM
APRC
AIN
ASCC
AFPREL
ASED
APERTH
ASFC
ASECTH
AFSA
AOMS
AORCO
ANTXON
ARC
AFAF
ADIP
AIAG
AFARI
AEMED
AORL
AX
ASECAF
AOPC
ASECAFIN
AFZAL
APCS
AMB
AGUIRRE
AEMRASECCASCKFLOMARRPRELPINRAMGTJMXL
AIT
ARCH
AMEX
ALI
AQ
ATFN
AMBASSADOR
AORCD
AVIATION
ARAS
AINFCY
ACBAQ
AOPR
AREP
ALEXANDER
ATRD
AEIR
AOIC
ABLDG
ASEX
AFR
ASCE
ATRA
ASEK
AER
ALOUNI
AMCT
AVERY
APR
AMAT
AEMRS
ASPA
AFU
AMG
ATPDEA
ALL
AECL
ACAO
ASECKFRDCVISKIRFPHUMSMIGEG
AORD
AFL
AME
ADM
ASECPHUM
AGIT
ABT
ASECVE
AGUILAR
AT
ABMC
ALZUGUREN
ANGEL
ASR
ANTONIO
BMGT
BEXP
BM
BG
BL
BA
BR
BTA
BO
BY
BBSR
BLUE
BK
BF
BTIO
BELLVIEW
BE
BU
BN
BH
BD
BC
BTC
BILAT
BT
BX
BRUSSELS
BP
BB
BRPA
BUSH
BURMA
BMENA
BESP
BIT
BBG
BGD
BMEAID
BAGHDAD
BEN
BIO
BMOT
BWC
BLUNT
BURNS
BUT
BGMT
BAIO
BCW
BOEHNER
BFIF
BOL
BASHAR
BIMSTEC
BOU
BIDEN
BZ
BFIN
BTRA
BI
BHUM
BOIKO
BERARDUCCI
BOUCHAIB
BORDER
BEXPC
BTIU
BTT
BIOS
BEXB
BGPGOV
BOND
BLR
CE
CG
CH
CVR
CASC
CU
CI
CD
CO
CDG
CB
CJAN
CPAS
COM
CVIS
CMGT
CT
CENTCOM
CNARC
CTERR
COUNTER
CHIEF
CDC
CTR
CBW
COUNTRY
CLEARANCE
CY
CA
CM
CS
CWC
CN
CITES
CF
CWG
CIVS
CFIS
CASCC
CROATIA
CONS
COUNTERTERRORISM
CASA
COE
CJ
CHR
CODEL
CR
CBC
CACS
CHERTOFF
CAS
CONTROL
CONDITIONS
CONDOLEEZZA
CITEL
CV
CLINTON
CHG
CZ
CON
CTBT
CEN
CRIMES
COMMERCE
CLOK
CRISTINA
CFED
CARC
CND
CTM
CARICOM
COUNTRYCLEARANCE
CBTH
CHINA
CSW
CICTE
CJUS
CYPRUS
CW
CAMBODIA
CENSUS
CIDA
CRIME
CBG
CBE
CMGMT
CAIO
CEC
CARSON
CPCTC
CEDAW
COMESA
CVIA
CWCM
CEA
COSI
CAPC
CGEN
COPUOS
CGOPRC
COETRD
CKGR
CFE
CQ
CITT
CIC
CARIB
CVIC
CLO
CAFTA
CVISU
CHRISTOPHER
CACM
CIAT
CDB
CIS
CUL
CHAO
CNC
CL
CSEP
COMMAND
CENTER
COL
CAN
CAJC
CUIS
CONSULAR
CLMT
CIA
CBSA
CEUDA
CAC
CROS
CIO
CPUOS
CKOR
CVPR
CONG
CONTROLS
CEPTER
CVISCMGTCASCKOCIASECPHUMSMIGKIRF
CDCE
DPOL
DEMARCHE
DHS
DR
DA
DISENGAGEMENT
DEMOCRATIC
DEFENSE
DJ
DY
DARFUR
DHRF
DEA
DTRO
DPRK
DO
DARFR
DOC
DRL
DK
DOJ
DTRA
DOMESTIC
DAC
DOD
DEAX
DIEZ
DEOC
DELTAVIOLENCE
DCOM
DMINE
DRC
DCG
DPKO
DOMESTICPOLITICS
DE
DB
DOT
DEPT
DOE
DHLAKAMA
DHSX
DS
DKEM
DAO
DCM
DANIEL
DEM
DAVID
DCRM
ETRD
EAGR
ETTC
EAID
ECON
EFIN
ECIN
EINV
ELAB
EAIR
ENRG
EPET
EWWT
ECPS
EIND
EMIN
ELTN
EC
ETMIN
EUC
EZ
ET
ELECTIONS
ENVR
EU
EUN
EG
EINT
ER
ECONOMICS
ES
EMS
ENIV
EEB
EN
ECE
ECOSOC
EK
ENVIRONMENT
EFIS
EI
EWT
ENGRD
ECPSN
EXIM
EIAD
ERIN
ECPC
EDEV
ENGY
ECTRD
EPA
ESTH
ECCT
EINVECON
ENGR
ERTD
EUR
EAP
EWWC
ELTD
EL
EXIMOPIC
EXTERNAL
ETRDEC
ESCAP
ECO
EGAD
ELNT
ECONOMIC
ENV
ETRN
EIAR
EUMEM
ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID
EREL
ECOM
ECONETRDEAGRJA
ETCC
ETRG
ECONOMY
EMED
ETR
ENERG
EITC
EFINOECD
EURM
EENG
ERA
EXPORT
ENRD
ECONEINVETRDEFINELABETRDKTDBPGOVOPIC
EGEN
EBRD
EVIN
ETRAD
ECOWAS
EFTA
ECONETRDBESPAR
EGOVSY
EPIN
EID
ECONENRG
EDRC
ESENV
ETT
EB
ENER
ELTNSNAR
ECHEVARRIA
ETRC
EPIT
EDUC
ESA
EFI
ENRGY
ESCI
EE
EAIDXMXAXBXFFR
EETC
ECIP
EIAID
EIVN
EBEXP
ESTN
EING
EGOV
ETRA
EPETEIND
ELAN
ETRDGK
EAIDRW
ETRDEINVECINPGOVCS
EPEC
ENVI
ELN
EAG
EPCS
EPRT
EPTED
ETRB
EUM
EAIDS
EFIC
EFINECONEAIDUNGAGM
EAIDAR
ESF
EIDN
ELAM
EDU
EV
EAIDAF
ECN
EDA
EXBS
EINTECPS
ENRGTRGYETRDBEXPBTIOSZ
EPREL
EAC
EINVEFIN
ETA
EAGER
EINDIR
ECA
ECLAC
ELAP
EITI
EUCOM
ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID
EARG
ELDIN
EINVKSCA
ENNP
EFINECONCS
EFINTS
ECCP
ETC
EAIRASECCASCID
EINN
ETRP
EAIDNI
EFQ
ECOQKPKO
EGPHUM
EBUD
ECONEINVEFINPGOVIZ
ENERGY
ELB
EINDETRD
EMI
ECONEFIN
EIB
EURN
ETRDEINVTINTCS
EIN
EFIM
ETIO
ELAINE
EMN
EATO
EWTR
EIPR
EINVETC
ETTD
ETDR
EIQ
ECONCS
EPPD
ENRGIZ
EISL
ESPINOSA
ELEC
EAIG
ESLCO
EUREM
ENTG
ERD
EINVECONSENVCSJA
EEPET
EUNCH
ECINECONCS
ETRO
ETRDECONWTOCS
ECUN
EFND
EPECO
EAIRECONRP
ERGR
ETRDPGOV
ECPN
ENRGMO
EPWR
EET
EAIS
EAGRE
EDUARDO
EAGRRP
EAIDPHUMPRELUG
EICN
ECONQH
EVN
EGHG
ELBR
EINF
EAIDHO
EENV
ETEX
ERNG
ED
FR
FREEDOM
FINREF
FJ
FI
FRELIMO
FOREIGN
FAA
FETHI
FAS
FTAA
FRB
FAO
FCS
FINANCE
FWS
FTA
FEMA
FDA
FLU
FRANCISCO
FBI
FORCE
FO
FARC
FK
FT
FCSC
FAC
FM
FMGT
FINV
FCSCEG
FARM
FERNANDO
FINR
FIN
FINE
FIR
FDIC
FOR
FOI
FCUL
FKLU
FMLN
FISO
FIXED
GM
GMUS
GG
GR
GE
GAZA
GT
GH
GZ
GJ
GLOBAL
GV
GABY
GOI
GA
GCC
GB
GY
GATT
GC
GUAM
GEORGE
GTIP
GOV
GOMEZ
GUTIERREZ
GL
GKGIC
GF
GU
GWI
GARCIA
GTMO
GN
GANGS
GIPNC
GAERC
GREGG
GUILLERMO
GASPAR
GERARD
GI
HK
HR
HUMANR
HUMAN
HO
HA
HUMANRIGHTS
HU
HHS
HIV
HUM
HRKAWC
HILLEN
HILLARY
HDP
HUMRIT
HSTC
HUMANITARIAN
HCOPIL
HADLEY
HURI
HL
HRETRD
HOURANI
HG
HARRIET
HESHAM
HI
HNCHR
HARRY
HRECON
HRC
HOSTAGES
HEBRON
HUMOR
HSWG
HYMPSK
HECTOR
HN
HYDE
HUD
HRPGOV
HIGHLIGHTS
ID
ILC
IS
IZ
ICAO
IMO
ITU
IR
IAEA
ICRC
IPROP
IT
IBRD
ISRAELI
IRAQI
ISSUES
ITRA
IV
IO
IGAD
IRAQ
IN
IMF
ICTR
ISCON
IADB
IDB
IEA
INR
IWC
ICCAT
ILO
INMARSAT
IOM
ICJ
IQ
ISPA
ITRD
IPR
INTELSAT
ISN
IAHRC
INTERNAL
IFAD
IICA
IHO
IRAN
IL
IRCE
IC
INTELLECTUAL
IRM
IE
ICTY
IDLI
IFO
ISCA
INF
INL
ISRAEL
INV
IBB
INFLUENZA
ISPL
ITER
ITIA
INRA
ISAF
IACHR
INTERPOL
IFR
IRS
INRB
IEF
ISAAC
ICC
INDO
IIP
IATTC
INAUGURATION
IND
INS
IZPREL
IACI
IEFIN
INNP
ILAB
IA
IMTS
ITALY
ITALIAN
IFIN
IRAJ
IX
ICG
IF
ITPHUM
ITA
IP
IACW
IK
IUCN
IZEAID
IRPE
IDA
ISLAMISTS
ITF
INRO
IBET
IDP
IRC
ISO
ICES
IRMO
ITPGOV
IQNV
IMSO
IRDB
IMET
INCB
IFRC
JA
JO
JP
JM
JCIC
JOHN
JE
JEFFERY
JS
JUS
JN
JOHNNIE
JAMES
JKUS
JOSEPH
JML
JAWAD
JSRP
JIMENEZ
JOSE
JKJUS
JK
JAPAN
KMDR
KPAO
KPKO
KJUS
KCRM
KGHG
KFRD
KWMN
KDEM
KTFN
KHIV
KGIC
KIDE
KSCA
KNNP
KHUM
KIPR
KSUM
KISL
KIRF
KCOR
KRCM
KPAL
KWBG
KN
KS
KOMC
KSEP
KFLU
KPWR
KTIA
KSEO
KMPI
KHLS
KICC
KSTH
KMCA
KVPR
KPRM
KE
KU
KZ
KFLO
KSAF
KTIP
KTEX
KBCT
KOCI
KOLY
KOR
KAWC
KACT
KUNR
KTDB
KSTC
KLIG
KSKN
KNN
KCFE
KCIP
KGHA
KHDP
KPOW
KUNC
KDRL
KV
KPREL
KCRS
KPOL
KRVC
KRIM
KGIT
KWIR
KT
KIRC
KOMO
KRFD
KUWAIT
KG
KFIN
KSCI
KTFIN
KFTN
KGOV
KPRV
KSAC
KGIV
KCRIM
KPIR
KSOC
KBIO
KW
KGLB
KMWN
KPO
KFSC
KSEAO
KSTCPL
KSI
KPRP
KREC
KFPC
KUNH
KCSA
KMRS
KNDP
KR
KICCPUR
KPPAO
KCSY
KTBT
KCIS
KNEP
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KNNB
KGCC
KINR
KPOP
KMFO
KENV
KNAR
KVIR
KDRG
KDMR
KFCE
KNAO
KDEN
KGCN
KICA
KIMMITT
KMCC
KLFU
KMSG
KSEC
KUM
KCUL
KMNP
KSMT
KCOM
KOMCSG
KSPR
KPMI
KRAD
KIND
KCRP
KAUST
KWAWC
KTER
KCHG
KRDP
KPAS
KITA
KTSC
KPAOPREL
KWGB
KIRP
KJUST
KMIG
KLAB
KTFR
KSEI
KSTT
KAPO
KSTS
KLSO
KWNN
KPOA
KHSA
KNPP
KPAONZ
KBTS
KWWW
KY
KJRE
KPAOKMDRKE
KCRCM
KSCS
KWMNCI
KESO
KWUN
KPLS
KIIP
KEDEM
KPAOY
KRIF
KGICKS
KREF
KTRD
KFRDSOCIRO
KTAO
KJU
KWMNPHUMPRELKPAOZW
KEN
KO
KNEI
KEMR
KKIV
KEAI
KWAC
KRCIM
KWCI
KFIU
KWIC
KCORR
KOMS
KNNO
KPAI
KBWG
KTTB
KTBD
KTIALG
KILS
KFEM
KTDM
KESS
KNUC
KPA
KOMCCO
KCEM
KRCS
KWBGSY
KNPPIS
KNNPMNUC
KWN
KERG
KLTN
KALM
KCCP
KSUMPHUM
KREL
KGH
KLIP
KTLA
KAWK
KWMM
KVRP
KVRC
KAID
KSLG
KDEMK
KX
KIF
KNPR
KCFC
KFTFN
KTFM
KPDD
KCERS
KMOC
KDEMAF
KMEPI
KEMS
KDRM
KEPREL
KBTR
KEDU
KNP
KIRL
KNNR
KMPT
KISLPINR
KTPN
KA
KJUSTH
KPIN
KDEV
KTDD
KAKA
KFRP
KWNM
KTSD
KINL
KJUSKUNR
KWWMN
KECF
KWBC
KPRO
KVBL
KOM
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KEDM
KFLD
KLPM
KRGY
KNNF
KICR
KIFR
KM
KWMNCS
KAWS
KLAP
KPAK
KDDG
KCGC
KID
KNSD
KMPF
KPFO
KDP
KCMR
KRMS
KNPT
KNNNP
KTIAPARM
KDTB
KNUP
KPGOV
KNAP
KNNC
KUK
KSRE
KREISLER
KIVP
KQ
KTIAEUN
KPALAOIS
KRM
KISLAO
KWM
KFLOA
LE
LU
LH
LA
LG
LO
LY
LANTERN
LI
LABOR
LORAN
LTTE
LT
LAS
LAB
LAW
LVPR
LARREA
LEBIK
LAURA
LS
LOTT
LOVE
LR
LEON
LAVIN
LGAT
LV
LAOS
LOG
LN
LB
MOPS
MO
MARR
ML
MASS
MZ
MR
MNUC
MX
MV
MCC
MY
MEDIA
MTCRE
MG
MCAP
MOPPS
MP
MI
MK
MC
MD
MA
MU
MASC
MW
MT
MEPP
MN
MTCR
MH
MEPI
MIL
MNUCPTEREZ
MMAR
MICHAEL
MUNC
MDC
MPOS
MONUC
MAR
MGMT
MAS
MEPN
MENDIETA
MARIA
MONTENEGRO
MOOPS
MSG
MARITIME
MURRAY
MUKASEY
MOTO
MCA
MFO
MEX
MRSEC
MMED
MACP
MAAR
MINUSTAH
MCCONNELL
MAPP
MGT
MARQUEZ
MANUEL
MNUR
MCCAIN
MF
MOHAMMAD
MOHAMED
MNU
MFA
MILITANTS
MINORITIES
MTS
MLS
MILI
MIAH
MEETINGS
MERCOSUR
MED
MARAD
MNVC
MINURSO
MNUCUN
MIK
MARK
MBM
MPP
MILITARY
MAPS
MNUK
MILA
MTRRE
MACEDONIA
MICHEL
MASSMNUC
MUCN
MQADHAFI
MPS
MARRGH
MRCRE
MTRE
MORALES
MAP
MCTRE
MHUC
MOPSGRPARM
MOROCCO
MCAPS
NL
NU
NS
NI
NPT
NATO
NO
NG
NATEU
NSF
NZ
NAS
NP
NDP
NLD
NGO
NEPAD
NAFTA
NASA
NEA
NGUYEN
NIH
NK
NIPP
NONE
NR
NANCY
NEGROPONTE
NRR
NERG
NSSP
NSG
NSFO
NE
NATSIOS
NFSO
NATIONAL
NTDB
NT
NCD
NTSB
NRC
NELSON
NAM
NH
NPG
NEC
NSC
NFATC
NMFS
NATOIRAQ
NAR
NZUS
NARC
NCCC
NA
NC
NEW
NRG
NUIN
NOVO
NATOPREL
NEY
NV
NICHOLAS
NPA
NW
NARCOTICS
NORAD
NOAA
NON
NTTC
NKNNP
NMNUC
NUMBERING
ODIP
OIIP
OPRC
OSCE
OREP
OTRA
OPET
OSCI
OVIP
OECD
OCII
OUALI
OPDC
OEXC
OFPD
OPIC
OFDP
OPCW
OECV
OAS
OM
OMIG
ODAG
OPREP
ORA
OIC
OEXCSCULKPAO
OIG
OASS
OFFICIALS
ORTA
OSAC
OIL
OIE
OEXP
OPEC
OPDAT
OMS
OES
OHI
OMAR
OCRA
OFSO
OCBD
OSTA
OAO
ONA
OTP
ORC
OAU
OXEC
OA
ODPC
OPDP
OVIPPRELUNGANU
OASC
OSHA
OPCD
OTR
OPPI
OPCR
OF
OFDPQIS
OSIC
OHUM
OSTRA
OASCC
OBSP
OFDA
OPICEAGR
OIM
OGAC
OTA
OTRAORP
OPPC
OESC
OCEA
OVP
ON
OPAD
OTAR
OCS
ODC
OTRD
OCED
OSD
ORUE
OREG
PHUM
PINR
PTER
PGOV
PREL
PREF
PL
PM
PHSA
PE
PARM
PINS
PK
PUNE
PO
PALESTINIAN
PU
PBTS
PROP
PTBS
POL
POLI
PA
PGOVZI
POLMIL
POLITICAL
PARTIES
POLM
PD
POLITICS
POLICY
PAS
PMIL
PINT
PNAT
PV
PKO
PPOL
PERSONS
PING
PBIO
PH
PETR
PARMS
PRES
PCON
PETERS
PRELBR
PT
PLAB
PP
PAK
PDEM
PKPA
PSOCI
PF
PLO
PTERM
PJUS
PSOE
PELOSI
PROPERTY
PGOVPREL
PARP
PRL
PNIR
PHUMKPAL
PG
PREZ
PGIC
PBOV
PAO
PKK
PROV
PHSAK
PHUMPREL
PROTECTION
PGOVBL
PSI
PRELPK
PGOVENRG
PUM
PRELKPKO
PATTY
PSOC
PRIVATIZATION
PRELSP
PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ
PMIG
PREC
PAIGH
PROG
PSHA
PARK
PETER
POG
PHUS
PPREL
PS
PTERPREL
PRELPGOV
POV
PKPO
PGOVECON
POUS
PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN
PWBG
PMAR
PREM
PAR
PNR
PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO
PARMIR
PGOVGM
PHUH
PARTM
PN
PRE
PTE
PY
POLUN
PPEL
PDOV
PGOVSOCI
PIRF
PGOVPM
PBST
PRELEVU
PGOR
PBTSRU
PRM
PRELKPAOIZ
PGVO
PERL
PGOC
PAGR
PMIN
PHUMR
PVIP
PPD
PGV
PRAM
PINL
PKPAL
PTERE
PGOF
PINO
PHAS
PODC
PRHUM
PHUMA
PREO
PPA
PEPFAR
PGO
PRGOV
PAC
PRESL
PORG
PKFK
PEPR
PRELP
PREFA
PNG
PGOVPHUMKPAO
PRELECON
PINOCHET
PFOR
PGOVLO
PHUMBA
PRELC
PREK
PHUME
PHJM
POLINT
PGOVPZ
PGOVKCRM
PGOVE
PHALANAGE
PARTY
PECON
PEACE
PROCESS
PLN
PRELSW
PAHO
PEDRO
PRELA
PASS
PPAO
PGPV
PNUM
PCUL
PGGV
PSA
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PGIV
PRFE
POGOV
PEL
PBT
PAMQ
PINF
PSEPC
POSTS
PHUMPGOV
PVOV
PHSAPREL
PROLIFERATION
PENA
PRELTBIOBA
PIN
PRELL
PGOVPTER
PHAM
PHYTRP
PTEL
PTERPGOV
PHARM
PROTESTS
PRELAF
PKBL
PRELKPAO
PKNP
PARMP
PHUML
PFOV
PERM
PUOS
PRELGOV
PHUMPTER
PARAGRAPH
PERURENA
PBTSEWWT
PCI
PETROL
PINSO
PINSCE
PQL
PEREZ
PBS
RS
REFUGEES
RW
RP
RELFREE
RO
REGIONAL
RIGHTS
REACTION
REPORT
RU
RENAMO
RIGHTSPOLMIL
REFORM
RM
REFUGEE
REL
RELATIONS
ROW
RREL
REGION
RATIFICATION
RBI
RICE
ROOD
RODENAS
RUIZ
RODHAM
ROBERT
RGY
ROY
REUBEN
RELIGIOUS
RUEHZO
RODRIGUEZ
RUEUN
RELAM
RSP
RF
RSO
RCMP
REO
ROSS
RPTS
RENE
REID
RUPREL
RMA
RI
REMON
RPEL
RFE
RFIN
RA
RAFAEL
RAY
RUS
RPREL
ROBERTG
RECIN
RAMONTEIJELO
SNAR
SP
SN
SMIG
SL
SOCI
SU
SG
SF
SENV
SZ
SOE
SCUL
SY
SO
SR
SYR
SE
SA
SW
SIPDIS
SCIENCE
SADC
SI
SCI
SOCIETY
SC
SAARC
STR
SECRETARY
SANC
SSH
ST
SNA
SGWI
SEP
SOCIS
SETTLEMENTS
SPECIALIST
SK
SHUM
START
STET
SCVL
SREF
SCHUL
SCUIL
SYRIA
SECURITY
SPCE
SYAI
SMIL
SOWGC
STEPHEN
SNRV
SKCA
SENSITIVE
SECI
SNAP
SPP
SCUD
SOM
SPECI
SMIGBG
SENC
SCRM
SGNV
SECTOR
SENVEAGREAIDTBIOECONSOCIXR
SENVSXE
SASIAIN
SACU
SENVSPL
SWMN
STEINBERG
SOPN
SOCR
SCOI
SCRS
SILVASANDE
SWE
SARS
SNARIZ
SUDAN
SENVQGR
SM
SNARKTFN
SAAD
SD
SAN
SIPRNET
STATE
SENS
SUBJECT
SFNV
SECSTATE
SSA
SPCVIS
SOI
SOFA
SCULKPAOECONTU
SPTER
SKSAF
SENVKGHG
SHI
SEVN
SANR
SPSTATE
SMITH
SCOM
SH
SNARCS
SNARN
SIPRS
SNARM
SIPDI
SCPR
SNIG
SELAB
SULLIVAN
SENVENV
SECDEF
SOLIC
SOIC
SPAS
SASC
SOSI
SEC
SEN
SENVCASCEAIDID
TU
TH
TW
TSPA
TRGY
TPHY
TBIO
TIFA
TS
TZ
TX
TSPL
TT
TK
TC
TINT
TERFIN
TERRORISM
TIP
TURKEY
TI
TECHNOLOGY
TNGD
TRSY
TRAFFICKING
TOPEC
TPSL
TP
TD
TR
TA
TIO
TREATY
TO
THPY
TECH
TRADE
TPSA
TG
TAGS
TF
TRAD
THKSJA
TVBIO
TNDG
TN
TBIOZK
TWI
TV
TWL
TRT
TWRO
TSRY
TTPGOV
TAUSCHER
TRBY
TRBIO
TL
TPKO
TIA
TGRY
TSPAM
TREL
TNAR
TBI
TFIN
TPHYPA
TWCH
THOMMA
THOMAS
TERROR
TRY
TBID
TPP
TE
THANH
TJ
TBKIO
UNGA
USUN
UN
UG
UNSC
UK
UP
US
UNCTAD
UNVIE
UNHRC
USTR
UNAMA
UNCRIME
UNESCO
UV
UNDP
UNHCR
UNCSD
UNCHR
UZ
USAID
UNEP
UNO
UNPUOS
UY
UNDC
UNCITRAL
UNAUS
UNCND
UA
UNMIK
USTDA
USEU
USDA
UNICEF
UR
UNFICYP
USNC
USTRRP
UNODC
UNRWA
UNOMIG
USTRPS
USAU
USCC
UNEF
UNGAPL
UNFPA
UNSCE
USSC
UGA
UEU
UNMIC
UNTAC
UNION
UNCLASSIFIED
USPS
UNA
UMIK
USOAS
UNMOVIC
UNFA
UNAIDS
UNCHC
USGS
UNSE
UNRCR
UNTERR
USG
UE
UAE
UNWRA
UNCSW
UNSCR
UNCHS
UNDESCO
UNPAR
UNC
UB
UNSCS
UKXG
UNGACG
UNREST
UNHR
USPTO
UNFCYP
USCG
UNIDROIT
UNSCD
UPU
UNBRO
UNECE
USTRUWR
UNCC
UNESCOSCULPRELPHUMKPALCUIRXFVEKV
VM
VE
VT
VETTING
VN
VZ
VIS
VC
VTPREL
VIP
VTEAID
VTEG
VOA
VA
VTIZ
VANG
VISIT
VO
VENZ
VAT
VI
VEPREL
VEN
WFP
WTO
WHO
WTRO
WBG
WMO
WIPO
WA
WI
WSIS
WHA
WCL
WE
WMN
WEBZ
WS
WAR
WZ
WMD
WW
WILLIAM
WEET
WAEMU
WM
WWBG
WWT
WWARD
WITH
WMDT
WTRQ
WCO
WEU
WALTER
WRTO
WB
WHTI
WBEG
WCI
WEF
WAKI
WHOA
WGC
Browse by classification
Community resources
courage is contagious
Viewing cable 07COLOMBO251, INVESTMENT CLIMATE STATEMENT, 2007 - MALDIVES
If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:
- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #07COLOMBO251.
| Reference ID | Created | Released | Classification | Origin |
|---|---|---|---|---|
| 07COLOMBO251 | 2007-02-09 09:47 | 2011-08-25 00:00 | UNCLASSIFIED | Embassy Colombo |
VZCZCXRO2861
RR RUEHLMC
DE RUEHLM #0251/01 0400947
ZNR UUUUU ZZH
R 090947Z FEB 07
FM AMEMBASSY COLOMBO
TO RUEHC/SECSTATE WASHDC 5378
RUCPDOC/USDOC WASHDC
RUCPCIM/CIMS NTDB WASHDC
INFO RUEHC/DEPT OF LABOR WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RUEHNE/AMEMBASSY NEW DELHI 0608
RUEHKA/AMEMBASSY DHAKA 9878
RUEHIL/AMEMBASSY ISLAMABAD 6825
RUEHKT/AMEMBASSY KATHMANDU 4895
RUEHKP/AMCONSUL KARACHI 2138
RUEHCG/AMCONSUL CHENNAI 7395
RUEHGV/USMISSION GENEVA 1789
RUEHLMC/MILLENNIUM CHALLENGE CORP
UNCLAS SECTION 01 OF 07 COLOMBO 000251
SIPDIS
SIPDIS
STATE FOR EB/IFD/OIA AND SCA/INS
STATE PLEASE PASS USTR
E.O 12958: N/A
TAGS: KTDB OPIC ECON USTR EINV EFIN ETRD ELAB PGOV
MV
SUBJECT: INVESTMENT CLIMATE STATEMENT, 2007 - MALDIVES
REF: 2006 State 178303
¶1. Per reftel, below is the investment climate statement
for Maldives for 2007.
INVESTMENT CLIMATE STATEMENT-MALDIVES
FEBRUARY 2007
Investment Climate
--Introduction
Maldives is comprised of over 1,190 islands, of which 198
are inhabited and 87 are exclusive resort islands.
Population is about 350,000, while over 600,000 tourists
arrive annually. The capital, Male?, has a population of
103,000. GDP in 2006 totaled about $900 million, or about
$3,000 per capita (exceeding the average of about $700 in
the rest of South Asia). Over the past decade, real GDP
growth averaged over 7.5 percent per year except for 2005,
when GDP declined following the Indian Ocean tsunami.
Economic growth has been powered mainly by tourism and its
spin-offs in transportation, communication, and
construction. While income disparity remains high, this
growth also resulted in considerable social progress. The
net enrollment in primary education is close to 100
percent. Literacy rates are about 98 percent. Infant and
maternal mortality are declining rapidly.
The Indian Ocean tsunami in December 2004 devastated many
islands, with damage estimated at $450 million. Yet the
Maldivian economy has made a remarkable recovery from the
tsunami. A rebound in tourism, development of new resorts,
SIPDIS
and post-tsunami reconstruction helped increase GDP by
nearly 18 percent in 2006 following a contraction of 4.5
percent in 2005.
Growth is expected to continue in 2007 at a rate of over 10
percent, fueled by tsunami reconstruction, new resort
construction and government services. Inflation has
moderated to about 3 percent from over 6 percent in 2004-
¶2005. The trade deficit has expanded sharply in recent
years as a result of high oil prices and imports of
construction material. In 2006, the trade deficit reached
an estimated $600 million. However, as tourism recovered
and government borrowing increased, the balance of payments
recorded a surplus of about $40 million in 2006 from a
deficit of $17 million in 2005.
Government spending has increased sharply due to tsunami
reconstruction and increased social and capital investment.
Government expenditure was estimated at 75 percent of GDP
in 2006 compared to 36 percent of GDP in 2004 before the
tsunami. Government expenditure is set to rise further to
SIPDIS
92 percent of GDP in 2007. The budget deficit was 18
percent of GDP in 2006 and will increase sharply in 2007 as
a result of this increased expenditure. Government revenue
comes mainly from tourism and import tariffs. The
government hopes to borrow from banks and resort operators
to meet the 2007 deficit. However, the government needs to
return to fiscal prudence quickly to ensure future economic
stability.
Maldives ranked 53 out of 175 countries in the World Bank's
(www.worldbank.org) Ease of Doing Business 2007 Index,
ahead of its South Asian neighbors. The index investigates
regulations that enhance or constrain business activity.
Within the index, Maldives ranked first in terms of paying
taxes (Maldives has no income or sales tax), fifth in
employing workers, and ninth in dealing with licenses. But
in terms of registering property, getting credit, and
closing a business, the country ranked lower, at 172, 143,
and 114, respectively. Other ranks were as follows:
starting a business 31, protecting investors 60, trading
across borders 91, and enforcing contracts 83.
COLOMBO 00000251 002 OF 007
According to the World Bank, Maldives will ?graduate? from
Least Developed Country (LDC) status in 2011. Maldives?
major economic challenge beyond LDC graduation is how to
diversify the economy beyond tourism and fisheries. Tourism
will likely remain the engine of the economy. Over 40 new
resorts are expected to open in the next five years. The
government hopes to expand existing airports and build new
ones to cater to increased tourism. Other plans include
increasing capacity of ports. The government is pursuing
the establishment of a major transshipment port serving
Indian Ocean sea lanes adjacent to the northern Maldives.
The United Nations Development Program (UNDP)
www.mv.undp.org, the Asian Development Bank (ADB)
www.adb.org, and other multilateral and bilateral donors
are active in Maldives. They support government efforts to
improve basic infrastructure, promote economic
diversification, modernize education, create employment
opportunities, and spur development. The United States has
friendly relations with Maldives. To further enhance
engagement with the United States, the Government of
Maldives plans to open a diplomatic mission with a trade
office in Washington D.C. in early 2007.
--Openness to Foreign Investment
Foreign investment in Maldives is governed by Law 25/79,
which provides for an agreement between the government and
an investor. The Law of Contract governs contractual
relationships, and a separate law (No. 4/79) governs
business and trading activities by foreign nationals.
Investment agreements are for an initial period of 5 to 10
years for investments less than $1 million, and can be
renewed thereafter. For larger projects, terms are
negotiable.
Maldives began opening up to foreign investment in the late
1980s. Foreign investments in Maldives have primarily
involved resort management, but also include
telecommunications, accounting, banking, insurance, air
transport, courier services, and some manufacturing. The
Foreign Investment Services Bureau (FISB)
www.investmaldives.org within the Ministry of Economic
Development and Trade is tasked with promoting and
regulating foreign investments in the country. The FISB
reviews all proposed investments prior to granting
licenses. The FISB offers "one-stop shop" services to
investors and incentives including import duty concessions,
100 percent foreign ownership, no restrictions on
repatriation of earnings or profits, and no foreign
exchange restrictions. At present, personal income taxes
are not imposed. Banks' profits are taxed and a corporate
profit tax is under consideration for the end of the
decade. International arbitration is available for dispute
settlement.
The Government has said it is committed to improving the
investment regime and approval process. Maldives is in the
process of amending the FISB law with the help of the
Foreign Investment Advisory Service (FIAS) of the World
Bank group. Currently, approvals for new investments take
about one month. In cases where the investment is similar
to previously-approved foreign investments, immediate
approval is frequently given.
The FISB encourages investment projects which: (1) are
capital intensive; (2) enhance technology transfer; (3)
introduce new skills and offer training to local employees;
and, (4) are environmentally friendly. The FISB has
identified the following industries as offering potential
for foreign investors:
Tourism: Opportunities exist in the entire range of
services, including development and management of resorts,
tourist activities, and land and sea transportation.
COLOMBO 00000251 003 OF 007
Value-Added Fisheries: Fish processing is open to foreign
investment, particularly for new technology and capital
investment.
Financial - banking, accounting, and management consulting:
The FISB is interested in bringing in more global banks.
(Only HSBC is currently present). The lack of adequate
banking laws has deterred entry, however.
Transportation and Shipping: Development of air and sea
transport including inter-atoll transport services,
bunkering, transshipment, and passenger cruises. The
development of a transshipment port in the northern
Maldives targeting the rapidly growing transshipment
traffic in the Indian Ocean is one of the government's
highest priorities. The government is currently funding
harbor-dredging projects for 103 islands on a contract
basis. Other key priorities in the transport sector are
the expansion of the Male? Airport, a bridge connecting the
capital city Male? with the airport island Hulhumale, and a
new commercial port in the Male? region.
Population Consolidation: There are two major development
plans in the government's docket. The first is a
consolidation of the services and infrastructure of 20
atolls around five regional centers. The second is a
project to alleviate overcrowding in Male? by developing
nearby Hulhumale Island, where Male?s international airport
is located.
Telecommunications and information technology also offer
potential opportunities.
While infrastructure development remains a top priority for
the government, some of the projects listed above have been
slowed as tsunami reconstruction work takes priority.
Retail trading is closed to foreign investment. The
production of any items that are illegal to import into
Maldives is prohibited.
--Conversion and Transfer Policies
There are no exchange controls or restrictions on currency
movements. Repatriation of funds and profits is allowed
after local debts are settled.
Major international currencies can be bought and sold at
banks and authorized moneychangers. Hotels and banks
accept major credit cards and travelers checks. Foreign
currency accounts are available through banks. The US
dollar is the most widely used foreign currency and is
accepted by small shops and taxi drivers in Male?.
The official exchange rate is set at 12.8 Rufiyaa to the
dollar. This rate has remained unchanged since 2001. The
Maldivian currency is non-convertible and its true value
cannot be determined. The Government has noted that it
will need to review the exchange rate policy in the next
few years in order to promote export diversification. The
heavy dependence on imports is a constraint for exchange
rate management, though tourism receipts help maintain hard
currency liquidity. Large fiscal deficits financed by the
Maldives Monetary Authority www.mma.gov.mv pose a potential
threat to the fixed exchange rate system.
To improve public expenditure controls and management, the
government has taken initial action to introduce a new
public accounting system. A new public finance law came
into force in January 2006. The Attorney General's Office
is drafting a new public accounting bill and has already
submitted an audit bill to the People?s Majlis
(parliament). There has been a delay in the passage of the
audit bill. Instead, the President has issued several
decrees on these subjects. Foreign reserves at the end of
COLOMBO 00000251 004 OF 007
December 2006 were $232 million, higher than end 2005
reserves of $187 million, and were sufficient to finance
3.2 months of imports.
--Expropriation and Compensation
According to the Law on Foreign Investment (25/79) the
Government may, with or without notice, suspend an
investment, either where the investor indulges in an act
detrimental to the security of the country or where
temporary closure is necessary for national security. If,
after due investigation, it cannot be concluded within 60
days of the temporary closure that the foreign investor had
indulged in an activity detrimental to the security of
Maldives, then the Government will pay compensation.
Capital belonging to an investment that is closed for the
above reasons may be taken out of the country in a mutually
agreed manner. There appears to be little risk of
expropriation in the near future.
--Dispute Settlement
The sources of law in Maldives are its constitution,
Islamic Sharia law, regulations, Presidential decrees,
international law, and English common law, with the latter
being more influential in commercial matters. Although in
November 2005, the government announced the creation of a
10-member Judicial Services Commission (JSC) responsible
for nominating, dismissing, and examining the conduct of
all judges, the JSC was not yet fully functional by the end
of 2006. There is a High Court in Male? and lesser courts
(the number to be determined by the President) in Male? and
on other islands. There are no jury trials. The High
Court serves as court of appeal and also handles any
politically sensitive cases. There are also eight lower
courts in Male? dealing with theft, debt and property
cases. Though legal procedures are adequate, the judicial
process is slow.
Ultimate appeal may be directed to the President. In this
process, the President is briefed by an advisory board,
which goes through the appeal and recommends that the
President affirm or overturn the decision of the High
Court. Under a November 2005 Presidential decree, this
advisory board was given some independence. The current
constitution does not allow for an independent supreme
court. A process of constitutional revision initiated in
2004 has not yielded results as yet.
The law on foreign investments guarantees the security of
investments. Maldives has no laws pertaining to
arbitration. Disputes involving investments below $1
million can be referred to the courts in Maldives.
Disputes over $1 million can be referred for international
arbitration.
Recognizing that the existing legal and commercial
framework is underdeveloped and not always fully
transparent or predictable, the government is promoting
administrative reforms and formulating regulations dealing
with labor, the environment and industry. In recent years,
the People's Majlis has enacted a number of commercial
laws, including the Law of Contract, the Negotiable
Instruments of Law, and the Companies Act. Maldives is not
a member of the International Center for the Settlement of
Investment Disputes (ICSID).
--Right to Private Ownership and Establishment
There is little private ownership of land. Land reform
currently under consideration may result in more trade and
private ownership of property. Foreign investors are not
allowed to own land, but are granted lease rights ranging
up to 25 years, which can be later extended to 35 years for
investments over $10 million, or 50 years if 50 percent of
the company's shares are floated on the Maldives stock
COLOMBO 00000251 005 OF 007
market. Leases can be renewed at the end of their terms,
but the formula for assessing compensation value of a
resort at the end of a lease has not yet been developed.
The government is looking at the possibility of extending
the initial lease period from 25 years to 50 years.
--Protection of Property Rights
Maldives lacks specific legislation to protect intellectual
property rights (IPR) and has not signed any related
international agreements or conventions. Maldives benefits
from the World Trade Organization (WTO) decision to extend
the transition period for least-developed countries (LDC)
to provide protection for intellectual property under the
Trade-Related Aspects of Intellectual Property Rights
(TRIPS) agreement until July 1, 2013.
--Efficient Capital Markets and Portfolio Investment
The financial sector in Maldives is narrow and dominated by
the banking sector. The banking sector consists of one
publicly owned commercial bank -- the Bank of Maldives --
and branches of four foreign-owned commercial banks. HSBC,
the only global bank present, set up operations in 2002.
Non-bank financial institutions in the country consist of
two insurance companies, a pension fund, and a finance
leasing company. All financial institutions currently
operate under the supervision of the Maldives Monetary
Authority, which acts as the central bank.
Local sources of finance are limited in scope because of
the small size of the capital market and the lack of
instruments that are available in more developed nations.
No financial instruments are offered to the public. The
commercial banks provide short- and long-term credit to the
private sector. No specialized financial institution
exists to meet the investment needs of tourism, agriculture
and fisheries. Non-performing loans are about 6 percent
and the risk-weighted capital adequacy ratio is high. Most
foreign currency loans are made to foreign currency-earning
tourist enterprises. The Maldives Monetary Authority has
introduced an emergency liquidity facility for commercial
banks. Banking supervision has been recently upgraded,
moving toward international best practices.
A small Securities Trading Floor (STF), opened in Male? in
2002 and performs the role of a stock exchange. In 2006,
the government took several steps to enhance the capital
market. The legislature passed a Securities Act in January
2006 and the government created a Capital Market
Development Authority (CMDA) to regulate the capital
market. The STF now functions under the CMDA. At present,
the only investment opportunity available to the public is
a limited number of shares in the Bank of Maldives and two
other state-owned public companies. A leasing company,
Maldives Finance Leasing Company (Pvt) Ltd (MFLC), was
established in May 2002 as a collaborative venture between
five domestic public and private sector entities and two
international parties including the World Bank?s
International Finance Corporation (IFC). The MFLC aims to
address the demand for long-term equipment financing from
all sectors of the economy. The Asian Development Bank
will support strengthening the financial sector to more
effectively mobilize savings and fund long-term
development.
The Housing Development Finance Corporation is a government
company designed to provide housing loans with long
repayment terms at favorable interest rates. The company
is also entrusted with drawing up the land use policy in
Maldives.
--Political Violence
Maldives has a homogeneous society of one culture, one
religion and one language. The current President has been
COLOMBO 00000251 006 OF 007
in office since 1979. In 2004, the Government initiated a
process of constitutional reforms to address calls for
change and democracy. The President established a Special
Majlis (a special parliament separate from the People?s
Majlis) in May 2004 specifically to consider proposed
amendments to the constitution. Elections in January 2005
brought some reformists into parliament. In June of 2005,
Parliament legally recognized political parties.
Reformists complained that reform programs were slow and
insufficient. Opposition groups held demonstrations to
demand further reforms and request the release of political
prisoners in August and November 2005 and January 2006.
The demonstrations remained largely peaceful, although
after the first such protest in August, several people were
arrested and parliament was temporarily suspended. The
arrested demonstrators were later released without charge.
--Corruption
In 2002, parliament passed a bill on the prevention and
punishment of corruption. The law defines bribery and
improper pecuniary advantage and prescribes punishments.
The law also outlines procedures for the confiscation of
property and funds obtained through commission of the
included offenses. It broadens the mandate of the Anti-
Corruption Board, which previously extended only to
government employees, to investigate corruption in the
private sector.
--OPIC and Other Investment Insurance Programs
Currently, the Overseas Private Investment Corporation
(OPIC) does not operate in Maldives. Maldives is not a
member of the Multilateral Investment Guarantee Agency of
the World Bank Group.
--Labor
Skilled and unskilled labor can be scarce, and expatriate
labor is allowed in order to meet shortages. There are an
estimated 53,000 expatriate workers, mostly in tourism,
construction, and social and personal services. Expatriate
labor is equal to or more expensive than local labor. Even
when salaries are set lower, travel and other benefits
typically make it more expensive overall to hire
expatriates.
Wages in the private sector are usually set by contract
between employer and employee and are generally based on
rates for similar work in the public sector. Employment
contracts usually specify work hours on a weekly or monthly
basis. Employees are usually authorized 20 days of annual
leave, 30 days of medical leave, 45 days of maternity
leave, and 10 days of special annual leave for
"extraordinary circumstances." There are no laws governing
health and safety conditions; however, there are regulatory
requirements that employers provide a safe working
environment and ensure the observance of safety measures.
Maldives is not a member of the International Labor
Organization. Although unions are not expressly
prohibited, the government does not recognize the right to
form unions or the right to strike. Hence, labor actions
and disputes are rare. The United States in 1995 suspended
Maldives' eligibility for tariff preferences under the US
Generalized System of Preferences (GSP) because the
government failed to take steps to afford internationally
recognized worker rights to Maldivian workers. The
government has drafted new labor laws dealing with rights
of association, the right to organize, and acceptable
conditions of work, but passage of these laws has been
delayed by ongoing legal review.
--Foreign Direct Investment Statistics
COLOMBO 00000251 007 OF 007
Foreign Investment: US firms represented in Maldives
include Western Union, FedEx, UPS, Hewlett Packard (HP),
Dell, Compaq, Coca-Cola, American Express, Hilton Resorts,
SeaTec, Ernst and Young, PricewaterhouseCoopers, and KPMG.
--Web Resources
Foreign Investment Services Bureau: www.investmaldives.org
International Monetary Fund: www.imf.org
World Bank: www.worldbank.org
Asian Development Bank: www.adb.org
Ministry of Planning and National Development:
www.planning.gov.mv
Maldives Monetary Authority: www.mma.gov.mv
Maldives Stock Market:
www.maldivesstockexchange.com.mv
United Nations Development Program: www.mv.undp.org
BLAKE