Maldivian Democratic Party (MDP) Chairperson Fayyaz Ismail has accused the government of forcing the Maldives Monetary Authority (MMA) to print money to finance fiscal expansion, describing it as a consequence of “gross mismanagement.”
In a post on X, Fayyaz said the government was engaging in opaque financial transactions involving state-owned banks, the Sovereign Development Fund, and state-owned enterprises (SOEs), which he claimed had crippled their balance sheets.
He alleged that the government was now pressuring the MMA to undertake what he described as “Quantitative Easing,” essentially money printing, and structuring it to avoid taking direct responsibility. He further claimed that the Maldives Pension Administration Office was being used to make the move appear as an “investment arrangement.”
Fayyaz warned that the move could jeopardize the integrity of the Maldives Retirement Pension Scheme, endangering the retirement security of thousands of Maldivians and eroding public trust in the system designed to ensure their welfare.
“The government is not only printing money; it is endangering the retirement security of Maldivians,” he said, adding that such actions could debase the value of the Maldivian Rufiyaa, fuel inflation, and weaken citizens’ purchasing power.
Fayyaz urged the government to submit any decision to print money to Parliament and to ensure transparency on how such actions would affect the economy.
In a post on X, Fayyaz said the government was engaging in opaque financial transactions involving state-owned banks, the Sovereign Development Fund, and state-owned enterprises (SOEs), which he claimed had crippled their balance sheets.
He alleged that the government was now pressuring the MMA to undertake what he described as “Quantitative Easing,” essentially money printing, and structuring it to avoid taking direct responsibility. He further claimed that the Maldives Pension Administration Office was being used to make the move appear as an “investment arrangement.”
Fayyaz warned that the move could jeopardize the integrity of the Maldives Retirement Pension Scheme, endangering the retirement security of thousands of Maldivians and eroding public trust in the system designed to ensure their welfare.
“The government is not only printing money; it is endangering the retirement security of Maldivians,” he said, adding that such actions could debase the value of the Maldivian Rufiyaa, fuel inflation, and weaken citizens’ purchasing power.
It’s no surprise that the government is forcing MMA to monetize fiscal expansion. I have stated previously that, despite their claims, this government would have no choice but to print money due to gross mismanagement. It’s now evident that they are doing so after opaque…
— Fayyaz Ismail (@faya_i) October 20, 2025
Fayyaz urged the government to submit any decision to print money to Parliament and to ensure transparency on how such actions would affect the economy.
