Ex-President Solih Halted Debt Monetisation, Not Current Government: MDP

The opposition Maldivian Democratic Party (MDP) claims that debt monetisation was halted by former President Solih's administration, not by President Muizzu's. Ahmed Easa, MDP spokesperson and MP, stated that the decision was made in November 2022 to end completely by December 31, 2023, before Muizzu took office on November 17, 2023. Easa characterised Muizzu's claim as a lie. During a visit to Addu, Muizzu reiterated that his administration halted debt monetisation and that he inherited a debt of MVR 120 billion. The MDP noted that debt monetisation in the past five years totalled MVR 8 billion, higher than the previous 40 years combined. Provisions of the Public Expenditure Accountability Act were suspended in April 2020 due to COVID-19, and parliament extended the deadline until December 2023 on November 23, 2022.

The opposition Maldivian Democratic Party (MDP) claims that debt monetisation was halted by former President Solih's administration, not by President Muizzu's. Ahmed Easa, MDP spokesperson and MP, stated that the decision was made in November 2022 to end completely by December 31, 2023, before Muizzu took office on November 17, 2023. Easa characterised Muizzu's claim as a lie. During a visit to Addu, Muizzu reiterated that his administration halted debt monetisation and that he inherited a debt of MVR 120 billion. The MDP noted that debt monetisation in the past five years totalled MVR 8 billion, higher than the previous 40 years combined. Provisions of the Public Expenditure Accountability Act were suspended in April 2020 due to COVID-19, and parliament extended the deadline until December 2023 on November 23, 2022.

The opposition Maldivian Democratic Party (MDP) claims that debt monetisation was halted by former President Solih's administration, not by President Muizzu's. Ahmed Easa, MDP spokesperson and MP, stated that the decision was made in November 2022 to end completely by December 31, 2023, before Muizzu took office on November 17, 2023. Easa characterised Muizzu's claim as a lie. During a visit to Addu, Muizzu reiterated that his administration halted debt monetisation and that he inherited a debt of MVR 120 billion. The MDP noted that debt monetisation in the past five years totalled MVR 8 billion, higher than the previous 40 years combined. Provisions of the Public Expenditure Accountability Act were suspended in April 2020 due to COVID-19, and parliament extended the deadline until December 2023 on November 23, 2022.

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