Economic Minister Mohamed Saeed said tonight that the MDP was hoping to return to power, expecting this government to go bankrupt within three months.
Speaking on the government’s ’52 Weeks’ program, Saeed said that the previous government printed and released about eight billion rufiyaa into the market, causing the Maldivian rufiyaa to depreciate to unprecedented levels.
Therefore, while the Maldivian currency had no value, President Dr. Mohamed Muizzu decided not to print money even in that situation, Saeed said.
“These people thought the country would go bankrupt within three months. They even made their schedule based on that. People like Abdullah Shahid thought President Muizzu would go bankrupt within three months of coming to power. Then they thought they would come back,” Saeed said.
Saeed said that while the MDP expected bankruptcy by March this year according to their schedule, the government managed to hold on for another three months. He added that when the World Bank, Fitch, and Moody’s downgraded the Maldives’ rating, the opposition was spreading the news that the Maldives was heading towards bankruptcy.
“These people were expressing joy in various political rooms and places, believing that the country was going bankrupt,” he said.
However, even in that situation, the government continued to strengthen relations with countries and work to improve the financial situation, Saeed said.
He said that after 52 weeks, the Maldives is not in debt.
“A happy, active, and robust economy will meet Maldivians next year. The World Bank has said that. They’ve mentioned an economic growth of 6.3 or 6.5 percent,” he said.
Saeed said there are many development projects, and when large projects start next year, the economy will become active and improve.
Saeed said that during the COVID-19 pandemic, foreign banks and various organizations provided 565 million US dollars, which is 8.7 billion rufiyaa.
“This is the amount of money freely given by friendly countries to the Maldives, with a population of about 200,000, when COVID hit, to manage the pandemic,” he said.
According to Saeed, documents show that 4.2 billion rufiyaa was spent on COVID. Therefore, while investigating this issue, Saeed questioned what happened to the other four billion allocated for COVID.
“How many buildings of the kind you’re talking about were built with the other four billion rufiyaa? Or into whose accounts did that money go? If these things are not investigated, whether political or civil, people will not trust them,” he said.
Saeed said that although the President has said he won’t personally pursue and arrest political figures, it’s necessary to investigate and take action if there has been misuse of state property.
