MP Ahmed Thoriq, speaking during President Muizzu's southern atoll tour, accused the previous MDP administration of creating a historic debt crisis through large loans and mortgaged national assets. He said the government is enforcing a law requiring 20% of foreign currency income to circulate locally and confirmed an $800 million repayment due next year will be settled.
One outlet so far Only The Standard has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
We told them it wasn't right to mortgage schools and hospitals. Now we are the ones paying the price
A large portion of state revenue is still being used to service loans taken during their terms
Out of every billion dollars entering our economy, $700 million is spent on fuel to keep the lights on for our people
This law ensures the state has access to dollars for essential services
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
mortgaging national properties to raise a $500 million Sukuk bond while also repaying earlier obligations
Word for word from the report in The Standard. Open the report
these debts, along with a $150 million loan taken through STO, have now fallen due, with major repayments scheduled for next year
Word for word from the report in The Standard. Open the report
the government's decision to enforce a law ensuring 20% of foreign currency income circulates within the Maldivian economy
Word for word from the report in The Standard. Open the report
Out of every billion dollars entering our economy, $700 million is spent on fuel to keep the lights on for our people
Word for word from the report in The Standard. Open the report
a small group of businessmen dominates the $5 billion tourism sector
Word for word from the report in The Standard. Open the report
He confirmed that the $800 million repayment due next year will be settled without difficulty, supported by strengthened economic cooperation with India and China.
Word for word from the report in The Standard. Open the report
Speaking during President Dr. Mohamed Muizzu's southern atoll tour, Thoriq outlined the government's current efforts to repair the financial damage left behind.
Word for word from the report in The Standard. Open the report
