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MMA legally responsible for resolving dollar shortage: Saeed
Economic Minister Mohamed Saeed told Parliament that the Maldives Monetary Authority, not his ministry, is legally responsible for resolving the dollar shortage, citing Article 24(a) of the Maldives Monetary Authority Act 1981. He said the current administration has released 80 per cent more US dollars through banks than the previous one, with USD 1.9 billion released over the past three years under President Dr Mohamed Muizzu.
LatestEconomic Minister Saeed deflects accountability for rising dollar rates, says MMA responsibleAdhadhu (English), 5 Nov, 08:12
Sources2carried itOOAE2 of 19 news outlets we monitor
Reports2one each
Reported over11 h 45 minfirst to latest report
Figures8as written, with their sentences
What happened
in order; days are read from the reports' words and dates
Wed 4 NovEconomic Minister Mohamed Saeed responded to a no-confidence motion submitted against him in Parliament.4 Novonly One OnlineResponding to a no-confidence motion submitted against him in Parliament today, Saeed addressed criticism over his repeated assurances that the dollar exchange rate would decline, despite its continued rise.
Word for word from the report in One Online. Open the report
Who said what
the reports' own quoted words, each once
Section 24(a) of the Maldives Monetary Authority Act 1981 mandates the MMA to implement the exchange rate system and to determine and enforce policies regarding the exchange rate to manage the country's foreign exchange affairs
This is the legal framework without exception. Therefore, I believe those who raised these questions have every opportunity and access to direct their inquiries to the entity legally tasked with this responsibility.
Mohamed Saeed, Economic Minister · Bring the dollar rate down below MVR 15.42 if the ruling People's National Congress secured a parliamentary majority
Different words do not mean different facts: the cards above compare headline wording only.
Who reported it, and when
2 outlets, over 11 h 45 min
One Online4 Nov, 20:26 · first report
Adhadhu (English)5 Nov, 08:12 · 11 h 45 min later
4 Nov, 20:265 Nov, 08:12
Newest report: Adhadhu (English), 5 Nov, 08:12. Reports with a date and no time are listed but not placed on the line.
Claims side by side
figures and events as extracted, each with its sentence
0 agreed0 written differently10 from one source
From one source
Only one source we monitor stated it. That is a gap in what we monitor, not a doubt about it.
US dollars released through banks compared with previous administration current administration80 per cent moreOne OnlineSaeed also said the current administration has released 80 per cent more US dollars through banks than the previous administration.
US dollars released through banks, 2021 to November 2023 2021 and November 2023USD 1.75 billionOne OnlineBetween 2021 and November 2023, the administration of former President Ibrahim Mohamed Solih released USD 1.75 billion through banks.
US dollars released through banks over the past three years past three yearsUSD 1.9 billionOne OnlineUnder President Dr Mohamed Muizzu, USD 1.9 billion was released over the past three years, including USD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026.
US dollars released through banks 2024USD 486.53 millionOne OnlineUSD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026
US dollars released through banks 2025USD 733.82 millionOne OnlineUSD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026
US dollars released through banks 2026 so farUSD 718.53 millionOne OnlineUSD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026
80 per cent moreUS dollars released through banks compared with previous administrationOne OnlineSaeed also said the current administration has released 80 per cent more US dollars through banks than the previous administration.
Word for word from the report in One Online. Open the report
USD 1.75 billionUS dollars released through banks, 2021 to November 2023One OnlineBetween 2021 and November 2023, the administration of former President Ibrahim Mohamed Solih released USD 1.75 billion through banks.
Word for word from the report in One Online. Open the report
USD 1.9 billionUS dollars released through banks over the past three yearsOne OnlineUnder President Dr Mohamed Muizzu, USD 1.9 billion was released over the past three years, including USD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026.
Word for word from the report in One Online. Open the report
USD 486.53 millionUS dollars released through banksOne OnlineUSD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026
Word for word from the report in One Online. Open the report
USD 733.82 millionUS dollars released through banksOne OnlineUSD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026
Word for word from the report in One Online. Open the report
USD 718.53 millionUS dollars released through banksOne OnlineUSD 486.53 million in 2024, USD 733.82 million in 2025 and USD 718.53 million so far in 2026
Word for word from the report in One Online. Open the report
13 lawmakersSignatures backing the no-confidence motionAdhadhu (English)The motion, backed by the signatures of 13 opposition lawmakers, alleges that foreign currency rates have escalated because Saeed, in his capacity as Economic Minister, failed to effectively implement policies for economic reform.
Word for word from the report in Adhadhu (English). Open the report
below MVR 15.42Dollar rate Saeed previously claimed would be reachedAdhadhu (English)Saeed had previously claimed that if the ruling People's National Congress (PNC) secured a parliamentary majority in the 2024 elections, the dollar rate would be brought down below MVR 15.42.
Word for word from the report in Adhadhu (English). Open the report
Other events named
no clear day, as worded
A no-confidence motion against Economic Minister Mohamed Saeed was submitted to Parliament by Kendhoo MP Mauroof Zakir.ParliamentAdhadhu (English)Responding to a no-confidence motion submitted to Parliament by Kendhoo MP Mauroof Zakir, Saeed noted that he first consulted the law to address the allegations regarding the surge in black market exchange rates and the rising cost of living.
Word for word from the report in Adhadhu (English). Open the report
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