Maldives to reduce U.S dollar transactions outside formal banking system

MALE, April 25 (Xinhua) -- The Maldives is taking steps to reduce U.S. dollar transactions outside the formal banking system to ensure that there is no dollar shortage in the country, Maldivian media reported on Thursday, quoting Minister of Finance Mohamed Shafeeq as saying.

In an interview with Mihaaru News, Shafeeq said efforts are being made to reduce the country's dependency on the dollar.

The govern