Maldivian Democratic Party (MDP) Chairperson Fayyaz Ismail has said that former President Abdulla Yameen should be held accountable for the economic damage caused by taking large loans in the name of developing Velana International Airport (VIA).
Fayyaz, in a post on X, criticized the decision to terminate the agreement with Indian company GMR, stating that the move was politically motivated and ultimately detrimental to the state. He said the airport could have been developed under the GMR agreement without placing the country in debt, but the Yameen administration chose to proceed with loans, which now account for a significant portion of the Maldives’ current financial burden.
He added that this decision has limited the government’s ability to raise funds for other national needs and claimed that tourist arrivals could have exceeded four million today had the original deal continued. According to Fayyaz, the country’s GDP could have doubled, but a leader’s politically driven decision led to economic losses estimated at USD 60 billion.
Fayyaz also questioned the celebrations planned for the opening of the new terminal, saying the event should not be treated as a victory when it came at the cost of hundreds of millions in economic losses. He argued that the priority should have been national interest, not political optics.
The former minister's comments come at a time of renewed public debate over the airport project. The decision to hand over VIA to GMR under former President Mohamed Nasheed was one of the major reasons behind the protests that led to the change in government. The succeeding administration of Dr. Mohamed Waheed Hassan made reclaiming the airport from GMR its top priority.
Fayyaz, in a post on X, criticized the decision to terminate the agreement with Indian company GMR, stating that the move was politically motivated and ultimately detrimental to the state. He said the airport could have been developed under the GMR agreement without placing the country in debt, but the Yameen administration chose to proceed with loans, which now account for a significant portion of the Maldives’ current financial burden.
He added that this decision has limited the government’s ability to raise funds for other national needs and claimed that tourist arrivals could have exceeded four million today had the original deal continued. According to Fayyaz, the country’s GDP could have doubled, but a leader’s politically driven decision led to economic losses estimated at USD 60 billion.
Fayyaz also questioned the celebrations planned for the opening of the new terminal, saying the event should not be treated as a victory when it came at the cost of hundreds of millions in economic losses. He argued that the priority should have been national interest, not political optics.
The former minister's comments come at a time of renewed public debate over the airport project. The decision to hand over VIA to GMR under former President Mohamed Nasheed was one of the major reasons behind the protests that led to the change in government. The succeeding administration of Dr. Mohamed Waheed Hassan made reclaiming the airport from GMR its top priority.
