The government has introduced a debt bill in Parliament aimed at increasing transparency about loans taken on behalf of the people. Funadhoo Constituency MP Mohamed Mamdhooh spoke to state media outlet PSM, explaining that the proposed debt bill will clarify the nature and purpose of such loans to the public.

According to Mamdhooh, the bill mandates that debt statistics be made public quarterly and annually. He emphasized that the public has the right to know the specifics of any loans taken in their name and to understand the intended outcomes of these financial decisions. The bill aims to ensure that loans are procured at favorable interest rates and that their repayment will not pose future difficulties.

The Public Debt Bill has been referred to the Finance Committee of Parliament for further consideration. Key provisions of the bill include the collection, maintenance, and management of public debt, the issuance of sovereign guarantees for debt taken by local councils and state companies, and the disclosure of comprehensive information regarding public debt.

This move is seen as a significant step toward enhancing fiscal transparency and accountability in the Maldives, allowing citizens to stay informed about the government's financial decisions and their implications.