The Chief Spokesperson at the President’s Office, Mohamed Hussain Shareef, has stated that the government’s most significant achievement has been the stabilization of the country’s financial situation. Speaking to the press, the Spokesperson noted that under President Dr. Muizzu’s prioritization of managing the substantial debt inherited from previous administrations and ensuring economic stability, the country has successfully navigated through challenging circumstances through consultations with foreign nations and financial institutions. He further highlighted that, as a result, there is renewed confidence in the improvement of the Maldives’ credit rating.
Regarding financial details, the government has settled USD 974 million in debt over the past 40 days. This includes payments for Sukuks, currency swaps, and loan repayments due to India. The Spokesperson emphasized that while debt is being serviced without acquiring additional loans, the government is also preparing to settle a USD 50 million payment due this coming September. He added that as the government approaches the mid-point of its term, the objective is to further strengthen the administrative framework and accelerate the fulfillment of pledges made to the citizens.
