Seville - RajjeViyu

Maldives News Network | 11 months, 1 week ago | urgent

Vice President affirms urgent need to reform international financial architecture

Vice President Hussain Mohamed Latheef at FfD4 in Seville urged structural reform of the international financial system. He called for SIDS representation, debt sustainability through a 'debt relief for resilience building' mechanism, and fair credit ratings. He emphasized that SIDS must not be forced to choose between debt service and development.

Presidency | 11 months, 1 week ago | urgent

Keynote Statement by His Excellency Hussain Mohamed Latheef, Vice President of the Republic of Maldives at the 4th International Conference on Financing for Development (FfD4) Multi-stakeholder Round Table 6: Reforming the International Financial Architecture and Addressing Systemic Issues

Vice President Hussain Mohamed Latheef delivered a keynote at FfD4, urging reform of the international financial architecture. He called for SIDS representation, a 'debt relief for resilience building' mechanism, and fair credit ratings. He stressed that SIDS must not be forced to choose between debt service and development.

Presidency | 11 months, 2 weeks ago | optimistic

Remarks by His Excellency Hussain Mohamed Latheef, Vice President of the Republic of Maldives at the 4th International Conference on Financing for Development (FfD4), Maldives Side Event: Empowering MSMEs in SIDS through Grants: Lessons from the Maldives Experience

Vice President Hussain Mohamed Latheef delivered remarks at a Maldives side event on empowering MSMEs in SIDS through grants during the 4th International Conference on Financing for Development. He highlighted that over 90% of registered businesses in the Maldives are MSMEs, which are key to employment and innovation. The government focuses on three areas: innovation (Creative Economy Strategic Action Plan), inclusion (Fashaa Madhadhu Loan for women entrepreneurs with $6.4 million allocated, 25% reserved for women with disabilities), and infrastructure (expanding banking, transportation, and digital infrastructure under Maldives 2.0). He emphasized that empowering MSMEs is about dignity, opportunity, and resilience.

Presidency | 11 months, 2 weeks ago | concerned

Statement by His Excellency Hussain Mohamed Latheef, Vice President of the Maldives at the SIDS Debt Sustainability Support Service (DSSS) Side Event at the Fourth International Conference on Financing for Development

Vice President Hussain Mohamed Latheef delivered a statement at the SIDS Debt Sustainability Support Service (DSSS) Side Event during the Fourth International Conference on Financing for Development in Seville. He emphasized that unsustainable debt is the biggest barrier to sustainable development for SIDS, resulting from systemic failure of the international financial architecture. He called for reforming the financial architecture, starting with SIDS, to provide fiscal space and concessional finance. The Maldives champions a 'debt relief for resilience-building' mechanism that rewards investment in resilience with debt relief concessions. He urged operationalizing the DSSS at the earliest, noting that SIDS are ideal testing grounds for innovation. The statement was made on behalf of President Dr. Mohamed Muizzu, co-chair of the DSSS Strategic Advisory Group.

Presidency | 11 months, 2 weeks ago | concerned

Speech by His Excellency Hussain Mohamed Latheef, Vice President of the Maldives, at the General Debate of the Fourth International Conference on Financing for Development

Vice President Hussain Mohamed Latheef delivered a speech at the General Debate of the Fourth International Conference on Financing for Development in Seville. He thanked Spain and the UN. He highlighted that structural barriers in the global financial system hinder development for developing countries. Under President Muizzu, the Maldives aims to become a developed country by 2040, investing in economic expansion, international bunkering services, trade partnerships, and a modern financial system including the Maldives International Financial Services Authority and the Development Bank of Maldives. The new terminal at Velana International Airport will open in July, tripling capacity to 7 million passengers. He advocated for a 'debt relief for resilience-building' mechanism and called for reforming the international financing system.

Presidency | 11 months, 2 weeks ago | concerned

Statement by His Excellency Hussain Mohamed Latheef, Vice President of the Republic of Maldives at the 4th International Conference on Financing for Development (FFD4), Maldives Side Event: Blended Finance Opportunities for Marine Biodiversity, Seville, Spain

Vice President Hussain Mohamed Latheef delivered a statement at a side event on blended finance opportunities for marine biodiversity at FfD4. He highlighted that the Maldives' tourism sector brings in over 20% of GDP, largely due to marine biodiversity. Climate change causes mass coral bleaching. The Maldives is guardian of 3.14% of the world's coral reefs. SDG14 is the least funded SDG. The Maldives is launching two initiatives: 'Coral Reef Insurance' to protect biodiversity and create financial safety nets, and a blended finance instrument to support MSMEs in the blue economy. He called for reforming development finance to reflect climate realities.

Maldives Republic | 2 years, 10 months ago | concerned

Experts Debate Naming Conventions as Heatwaves Wreak Havoc

Europe faced two heatwaves named Cerberus and Charon, sparking debate on naming heatwaves. Unlike hurricanes, there is no internationally-agreed system for naming heatwaves. The World Meteorological Organization (WMO) has reservations, arguing heatwave forecasting is still evolving. Some experts advocate naming to raise awareness of health risks. In June 2022, Seville, Spain, launched a pilot program for naming heatwaves.