Former President Yameen Abdul Gayoom has said the government is completely dry and lacks the liquidity to fund development projects.
Speaking at a PNF town hall meeting, Yameen said that while President Dr. Mohamed Muizzu has promised to award projects to private sector companies, the sector is struggling due to insufficient government funding and cannot take on additional projects. He added that the government needs to raise MVR 20 billion to support the private sector.
Yameen also criticized the country’s economic and financial system, claiming it has failed and expressing doubt that President Muizzu’s promises for development in the islands can be fulfilled. He warned that the next step may be to print money again.
His remarks come amid widespread criticism of the Maldives Monetary Authority’s decision to inject MVR 2.5 billion into the pension fund to facilitate the purchase of government treasury bonds.
Speaking at a PNF town hall meeting, Yameen said that while President Dr. Mohamed Muizzu has promised to award projects to private sector companies, the sector is struggling due to insufficient government funding and cannot take on additional projects. He added that the government needs to raise MVR 20 billion to support the private sector.
Yameen also criticized the country’s economic and financial system, claiming it has failed and expressing doubt that President Muizzu’s promises for development in the islands can be fulfilled. He warned that the next step may be to print money again.
His remarks come amid widespread criticism of the Maldives Monetary Authority’s decision to inject MVR 2.5 billion into the pension fund to facilitate the purchase of government treasury bonds.
