Foreign Minister Moosa Zameer has asserted that there is no need for the Maldives to participate in an International Monetary Fund (IMF) programme, despite the current financial challenges facing the country.
In an interview with France24, Minister Zameer addressed the nation’s economic situation and outlined the government's stance on international financial assistance.
Minister Zameer described the Maldives' economic difficulties as a temporary crisis, asserting that the situation does not warrant IMF intervention. He emphasized that the government's focus is on implementing tax reforms and improving the management of state-owned enterprises to address the cash shortage.
According to Zameer, proposed tax changes and efficiency measures for government-owned companies are expected to enhance liquidity and reduce costs. He also highlighted that international partners, including India and China, are prioritizing support for the Maldives.
Recent credit rating downgrades from Fitch Ratings and Moody's have reflected concerns about the Maldives' financial situation. However, the government remains confident that its reform measures will lead to an improved credit rating. The administration has also pledged to meet all foreign debt obligations without default.
The government's approach aims to stabilize the economy and maintain financial stability, focusing on domestic reforms and strengthening international partnerships.
In an interview with France24, Minister Zameer addressed the nation’s economic situation and outlined the government's stance on international financial assistance.
Minister Zameer described the Maldives' economic difficulties as a temporary crisis, asserting that the situation does not warrant IMF intervention. He emphasized that the government's focus is on implementing tax reforms and improving the management of state-owned enterprises to address the cash shortage.
According to Zameer, proposed tax changes and efficiency measures for government-owned companies are expected to enhance liquidity and reduce costs. He also highlighted that international partners, including India and China, are prioritizing support for the Maldives.
Recent credit rating downgrades from Fitch Ratings and Moody's have reflected concerns about the Maldives' financial situation. However, the government remains confident that its reform measures will lead to an improved credit rating. The administration has also pledged to meet all foreign debt obligations without default.
The government's approach aims to stabilize the economy and maintain financial stability, focusing on domestic reforms and strengthening international partnerships.
