The US based rating agency, Moody's posts forecast of a decline trend on the Gross Domestic Product (GDP) percentile of Maldives in 2020.
A report from the agency speculates the island nation's economy has ventured into hostile territory due to the global economic impact rising from the COVID-19 pandemic.
Moody's further suggests the Maldives state executive's Economic Recovery Plan is insufficient to exceptionally offset the losses the island nation is expected to incur on an overall capacity.
The rating agency notes the island nation's GDP drop is a direct result from the decline of international travelers visiting the country; expected to decrease between 10 to 15% on annual terms.
Moreover, Moody's had also drawn emphasis on the composition of tourism sector to Maldivian GDP, noting the sector comprises of 40% of the total.
In their report, the agency notes the policies of monetary and fiscal authorities will attempt to quasi-quell economic losses to Maldivian economy over tourism sector's detrimental performance.
Meanwhile, Maldives Governor Mr Ali Hashim earlier speculated the country's GDP may drop as low as a negatory 9 percentile at the worst possible economic detriment.
Mr Hashim had compared his forecast against the GDP percentile drop during the 2004 Tsunami Crisis and the 2008 Economic Bubble.
