Maldivian Democratic Party (MDP) President Abdulla Shahid has voiced strong concern over reports that the Maldives Monetary Authority (MMA) has decided to inject MVR 2.5 billion into the Maldives Pension Fund to facilitate the purchase of government-issued Treasury Bonds.
In a post shared on social media platform X (formerly Twitter), Shahid stated that the move “lacks justification and poses significant risks,” warning it could fuel inflation, devalue the Maldivian Rufiyaa, and increase demand for U.S. dollars — ultimately undermining economic stability.
Shahid further cautioned that the decision appears to bypass fiscal limits established under the Fiscal Responsibility Act, describing it as “not only reckless but also potentially unlawful.” He urged the MMA to uphold its mandate of maintaining price stability and protecting the economy from what he described as “irresponsible fiscal and monetary practices.”
“Citizens should not bear the burden of irresponsible decisions that erode public trust,” he concluded.
The MMA has not yet issued an official response to Shahid’s remarks.
In a post shared on social media platform X (formerly Twitter), Shahid stated that the move “lacks justification and poses significant risks,” warning it could fuel inflation, devalue the Maldivian Rufiyaa, and increase demand for U.S. dollars — ultimately undermining economic stability.
Shahid further cautioned that the decision appears to bypass fiscal limits established under the Fiscal Responsibility Act, describing it as “not only reckless but also potentially unlawful.” He urged the MMA to uphold its mandate of maintaining price stability and protecting the economy from what he described as “irresponsible fiscal and monetary practices.”
“Citizens should not bear the burden of irresponsible decisions that erode public trust,” he concluded.
I am deeply concerned by reports that the Maldives Monetary Authority (MMA) has decided to inject MVR 2.5 billion into the Pension Fund to facilitate the purchase of government-issued Treasury Bonds. Unlike the COVID-19 crisis, where an economic emergency justified extraordinary…
— Abdulla Shahid (@abdulla_shahid) October 19, 2025
The MMA has not yet issued an official response to Shahid’s remarks.
