Nasheed, Muizzu Highlight Advantages of Halting Debt Monetisation

Former President Mohamed Nasheed and incumbent President Mohamed Muizzu have commented on the cessation of debt monetisation (printing money). Nasheed highlighted positive outcomes, including lower US Dollar exchange rates and expected slowdown in inflation, attributing the decrease in black market rates (from MVR 17-17.40 to lower levels) to the policy. Muizzu opposed further debt monetisation, criticizing the previous administration's over-reliance on it, which he said could lead to bankruptcy and devaluation. Muizzu's administration focuses on strengthening state-owned enterprises, improving corporate governance, and expanding revenue from tourism, construction, and fisheries, alongside completing airport projects. The practice of printing money was enabled by suspending provisions of the Public Expenditure Accountability Act in April 2020 due to Covid-19, a measure extended annually by Parliament under former President Ibrahim Mohamed Solih. The MDP claimed that the decision to stop printing money was made by the Solih administration and took effect during Muizzu's term.

Former President Mohamed Nasheed and incumbent President Mohamed Muizzu have commented on the cessation of debt monetisation (printing money). Nasheed highlighted positive outcomes, including lower US Dollar exchange rates and expected slowdown in inflation, attributing the decrease in black market rates (from MVR 17-17.40 to lower levels) to the policy. Muizzu opposed further debt monetisation, criticizing the previous administration's over-reliance on it, which he said could lead to bankruptcy and devaluation. Muizzu's administration focuses on strengthening state-owned enterprises, improving corporate governance, and expanding revenue from tourism, construction, and fisheries, alongside completing airport projects. The practice of printing money was enabled by suspending provisions of the Public Expenditure Accountability Act in April 2020 due to Covid-19, a measure extended annually by Parliament under former President Ibrahim Mohamed Solih. The MDP claimed that the decision to stop printing money was made by the Solih administration and took effect during Muizzu's term.

Former President Mohamed Nasheed and incumbent President Mohamed Muizzu have commented on the cessation of debt monetisation (printing money). Nasheed highlighted positive outcomes, including lower US Dollar exchange rates and expected slowdown in inflation, attributing the decrease in black market rates (from MVR 17-17.40 to lower levels) to the policy. Muizzu opposed further debt monetisation, criticizing the previous administration's over-reliance on it, which he said could lead to bankruptcy and devaluation. Muizzu's administration focuses on strengthening state-owned enterprises, improving corporate governance, and expanding revenue from tourism, construction, and fisheries, alongside completing airport projects. The practice of printing money was enabled by suspending provisions of the Public Expenditure Accountability Act in April 2020 due to Covid-19, a measure extended annually by Parliament under former President Ibrahim Mohamed Solih. The MDP claimed that the decision to stop printing money was made by the Solih administration and took effect during Muizzu's term.

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