Nasheed Warns of Record Dollar Surge as Central Bank Decides to Print MVR 15 Billion
Former President Mohamed Nasheed criticized the MMA's decision to print MVR 15 billion to buy land in Hulhumalé, warning the dollar could exceed 24 rufiyaa. The MMA board approved the issuance for a financial centre, but critics call it monetization. The IMF recently urged fiscal reforms. President Muizzu's government has not commented despite a pledge not to print money.
Former President Mohamed Nasheed criticized the MMA's decision to print MVR 15 billion to buy land in Hulhumalé, warning the dollar could exceed 24 rufiyaa. The MMA board approved the issuance for a financial centre, but critics call it monetization. The IMF recently urged fiscal reforms. President Muizzu's government has not commented despite a pledge not to print money.
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Former President Mohamed Nasheed criticized the MMA's decision to print MVR 15 billion to buy land in Hulhumalé, warning the dollar could exceed 24 rufiyaa. The MMA board approved the issuance for a financial centre, but critics call it monetization. The IMF recently urged fiscal reforms. President Muizzu's government has not commented despite a pledge not to print money.
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