Wikipedia has a good background summary for those of us who have shamefully not kept up with the Maldives news:

[...] Prior to 2008, Maldives did not have a constitution which guaranteed fundamental human rights. For 30 years, from 1978 until 2008, Maumoon Abdul Gayoom served as president. During the later part of his rule, independent political movements emerged in Maldives, which challenged the then-ruling Dhivehi Rayyithunge Party (Maldivian People's Party) and demanded democratic reform. These movements brought about significant change in political structure. In 2008 a new constitution was approved and the first direct presidential elections occurred, which were won by Mohamed Nasheed and Dr. Mohammed Waheed Hassan (as Vice-President) in the second round. The 2009 parliamentary election saw the Maldivian Democratic Party of President Nasheed receive the most votes with 30.81%, gaining 26 seats, however the Dhivehi Rayyithunge Party with 24.62% of the vote received the most seats (28).

Despite the passage from monarchy to republic, the contemporary political structure shows continuity in which power was shared among a few families at the top of the social structure. In some islands, the offices have remained within the same family for generations. In the modern day, the village is ruled by an administrative officer called Katību, who serves as the executive headman of the island. Above the Katībus of every atoll is the AtoỊuveriya (Atoll Chief). Although many islands are distant from the governing capital, administrative rights over the lawmaking body of a particular island is held to a minimum, hence centralising representatives from islands to a general parliament. The People's Majlis, located in Male, houses members from all over the country.^[3]

Challenges

The government of President Mohamed Nasheedh faced many challenges [....]

For those who have already taken Maldives 101, they also have "Main Article: Politics of Maldives"

Maldives court issues arrest warrant for former president
Fears of renewed street violence after more than 48 hours of political turmoil since Mohamed Nasheed forced out of office

Jason Burke in Delhi, guardian.co.uk, 9 Feb. 2012 04.27 EST

A court in the Maldives has issued an arrest warrant against Mohamed Nasheed, the country's former president forced to resign by elements within the police and army earlier this week, raising fears of renewed street violence after more than 48 hours of political turmoil.

Ahmed Naseem, foreign minister of the Maldives and a supporter of Nasheed, made an impassioned plea for foreign intervention.

"We need them to help solve the issue of this illegal government that has come to power in a coup," Naseem told The Guardian [....]