Economic Development and Trade Minister Mohamed Saeed has claimed that the MDP government has incurred a debt burden equivalent to 100 years' worth of financial obligations.
Saeed’s remarks came in response to accusations by MDP Chairman Fayyaz Ismail, who alleged that the current administration is exerting undue influence over the Bank of Maldives. Saeed criticized Ismail, stating it is ironic for a minister from a previous administration responsible for massive debt accumulation and economic instability to make such allegations.
According to Saeed, the MDP's policies have destabilized the country's finances. In contrast, the current government is implementing measures to address the economic challenges, including reducing expenditures and restructuring government-owned companies and ministries to enhance efficiency.
Saeed’s remarks came in response to accusations by MDP Chairman Fayyaz Ismail, who alleged that the current administration is exerting undue influence over the Bank of Maldives. Saeed criticized Ismail, stating it is ironic for a minister from a previous administration responsible for massive debt accumulation and economic instability to make such allegations.
According to Saeed, the MDP's policies have destabilized the country's finances. In contrast, the current government is implementing measures to address the economic challenges, including reducing expenditures and restructuring government-owned companies and ministries to enhance efficiency.
