President Mohamed Muizzu said the administration has halted debt monetisation, speaking at the Huravee Day event on Saturday evening, as he had promised in his 'Week 14' or first 100 days pledges. Finance Minister Mohamed Shafeeq had asked Parliament to remove the Fiscal Responsibility Act exemption from 1 January 2024, with all provisions of the Act fully restored.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
The state stopped debt monetisation as soon as we started running the government
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The Solih administration, in the face of the COVID pandemic oversaw a debt monetisation of over MVR 4.4 billion, initially starting in 2020.
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at the request of the government, Parliament exempted the application of the relevant provision of the Act for a certain period, from April 2020 till end of 2023.
Word for word from the report in Maldives Republic. Open the report
