Parliament member Ibrahim Shareef accuses the downgraded credit rates by Fitch to parliament approved resolutions.
Further detailing in his tweet MP Shareef stated that if the status of the nation is not considered while approving resolutions at the parliament, international rating agencies will continue to downgrade the credit ratings of the Maldives. Shareef also stated that he had advised not to continue with approving resolutions at the parliament without considering the status of the nation.
In response, MP Ali Azim states that credit rating comes from the financial status evaluations and not from the opinions stated by politicians.
In response to MP Shareef, the local Twitter handle well known for its connection to the Speaker of the parliament Mohamed Nasheed, tweeted saying that the credit ratings are saved at the current level with the transparency maintained in the parliament. The tweet continues stating that the reason behind the credit downgrade by Fitch; has already been explained by Fitch.
Meanwhile, Fitch downgraded the credit rates to 'CCC' from 'B' following the decreased amount of foreign currency, a weakened economy, and an increase in debt with the ongoing covid-19 pandemic. Fitch has also stated that it will be difficult for the Maldives to generate foreign-exchange inflows without the normalization of tourist activity.
Further detailing in his tweet MP Shareef stated that if the status of the nation is not considered while approving resolutions at the parliament, international rating agencies will continue to downgrade the credit ratings of the Maldives. Shareef also stated that he had advised not to continue with approving resolutions at the parliament without considering the status of the nation.
In response, MP Ali Azim states that credit rating comes from the financial status evaluations and not from the opinions stated by politicians.
In response to MP Shareef, the local Twitter handle well known for its connection to the Speaker of the parliament Mohamed Nasheed, tweeted saying that the credit ratings are saved at the current level with the transparency maintained in the parliament. The tweet continues stating that the reason behind the credit downgrade by Fitch; has already been explained by Fitch.
Meanwhile, Fitch downgraded the credit rates to 'CCC' from 'B' following the decreased amount of foreign currency, a weakened economy, and an increase in debt with the ongoing covid-19 pandemic. Fitch has also stated that it will be difficult for the Maldives to generate foreign-exchange inflows without the normalization of tourist activity.
