Dhuvaafaru MP Ismail "Isse" Ahmed has stated that the nation's Foreign Currency Reserve was at its lowest during the current Speaker of Parliament Mohamed Nasheed's presidency.
Mohamed Nasheed was the President of the Maldives from November 11, 2008 to February 7, 2012.
Speaking on a TV program, responding to Nasheed's talks on the reserve, Isse said that the lowest the reserve was at in recent history was in 2009 during Nasheed's presidency.
Isse said that during Nasheed's presidency, the reserve was lowered to only USD 32 million. And after that it was at a low point, at USD 43 million during Yameen's presidency. Isse said that despite the economic troubles faced due to COVID-19, there is still USD 110 million in the reserve under Ibrahim Mohamed Solih's presidency.
"In the past one and a half years, with the state not receiving the usual MVR 35 billion, with tourism closed down, and providing basic services despite these setbacks, taking loans at the right times and paying the right amounts, we can see that USD 110 million remained in the reserve, when the budget was researched last," Isse, who belongs to President Solih's faction in MDP, said.
Isse noted that the information regarding the money in the reserve was shared with the Parliament by the government and that it is not a secret. And that the information is not being publicized now because of the changes to the IMF guidelines.
Isse said that talks of Maldives being bankrupt and unable to pay its debts are political fables. He said that to those who said the same two years back, Maldives would appear bankrupt now. And that with the wisdom of President Solih, the Maldivian economy is now set on course towards the level it was in 2019.
Former president Mohamed Nasheed had said recently that the Foreign Currency Reserve has gotten very low and that it does not have enough money for essentials. The government has denied this.
Mohamed Nasheed was the President of the Maldives from November 11, 2008 to February 7, 2012.
Speaking on a TV program, responding to Nasheed's talks on the reserve, Isse said that the lowest the reserve was at in recent history was in 2009 during Nasheed's presidency.
Isse said that during Nasheed's presidency, the reserve was lowered to only USD 32 million. And after that it was at a low point, at USD 43 million during Yameen's presidency. Isse said that despite the economic troubles faced due to COVID-19, there is still USD 110 million in the reserve under Ibrahim Mohamed Solih's presidency.
"In the past one and a half years, with the state not receiving the usual MVR 35 billion, with tourism closed down, and providing basic services despite these setbacks, taking loans at the right times and paying the right amounts, we can see that USD 110 million remained in the reserve, when the budget was researched last," Isse, who belongs to President Solih's faction in MDP, said.
Isse noted that the information regarding the money in the reserve was shared with the Parliament by the government and that it is not a secret. And that the information is not being publicized now because of the changes to the IMF guidelines.
Isse said that talks of Maldives being bankrupt and unable to pay its debts are political fables. He said that to those who said the same two years back, Maldives would appear bankrupt now. And that with the wisdom of President Solih, the Maldivian economy is now set on course towards the level it was in 2019.
Former president Mohamed Nasheed had said recently that the Foreign Currency Reserve has gotten very low and that it does not have enough money for essentials. The government has denied this.
