Muizzu Indirectly Criticises Resort Owners Amid Foreign Exchange Dispute

President Mohamed Muizzu indirectly criticized resort owners in an X post, accusing some of prioritizing political interests over public welfare, amid tensions over a new Maldives Monetary Authority (MMA) foreign exchange regulation requiring A-category resorts to exchange USD 500 per guest into Maldivian Rufiyaa, implemented on 1 October. Over 50 resorts protested, with industry leaders Mohamed Moosa and M.U. Manik calling the policy unfeasible and arbitrary. Muizzu's advisor Mohamed Khaleel warned of destabilization, but the President reaffirmed commitment to the policy.

President Mohamed Muizzu indirectly criticized resort owners in an X post, accusing some of prioritizing political interests over public welfare, amid tensions over a new Maldives Monetary Authority (MMA) foreign exchange regulation requiring A-category resorts to exchange USD 500 per guest into Maldivian Rufiyaa, implemented on 1 October. Over 50 resorts protested, with industry leaders Mohamed Moosa and M.U. Manik calling the policy unfeasible and arbitrary. Muizzu's advisor Mohamed Khaleel warned of destabilization, but the President reaffirmed commitment to the policy.

President Mohamed Muizzu indirectly criticized resort owners in an X post, accusing some of prioritizing political interests over public welfare, amid tensions over a new Maldives Monetary Authority (MMA) foreign exchange regulation requiring A-category resorts to exchange USD 500 per guest into Maldivian Rufiyaa, implemented on 1 October. Over 50 resorts protested, with industry leaders Mohamed Moosa and M.U. Manik calling the policy unfeasible and arbitrary. Muizzu's advisor Mohamed Khaleel warned of destabilization, but the President reaffirmed commitment to the policy.

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