The Maldivian Democratic Party (MDP) has called on the government to bring down the exchange rate of the US Dollar to MVR 19 within the next 10 days, and further reduce it to MVR 17 within a month. MDP Chairperson Mohamed Nasheed stated that protests will be held on Majeedhee Magu to voice concerns over the rising dollar rate and the increasing cost of living.
Nashid highlighted that the deteriorating economic situation is a result of the failure to restructure loans and the blockage of foreign currency inflows. He further noted that the government’s attempt to mandate the conversion of resort revenues is a significant threat to foreign investments. Additionally, MDP has condemned the Home Minister’s remarks regarding the prevention of protests, describing them as political interference in the professional work of the police.
