President Dr. Mohamed Muizzu has affirmed the Maldives' commitment to financial stability, stating that the country is effectively managing its debts and oil imports without resorting to printing money.
Addressing the residents of L. Maavah island, President Muizzu underscored the challenges faced by the economic sector due to the non-issuance of additional currency in the current economic climate.
Despite these challenges, the government has initiated several small-scale development projects, with larger endeavors slated to commence in June and July, President Muizzu announced. Importantly, he emphasized that these projects would be executed without resorting to printing money.
Highlighting the nation's prudent financial management, President Muizzu revealed that the Maldives is successfully importing oil and meeting debt obligations without the need for additional currency circulation.
"We are ensuring timely payment of our foreign debts, with all obligations due by April being met without delay," President Muizzu assured. "Moreover, our oil imports are being financed without resorting to printing money."
The President also noted that the Maldives' economic model has garnered praise from foreign financial institutions, attributing this commendation to the government's robust economic policies. This endorsement underscores the country's commitment to sound fiscal management and sustainable economic growth.
Addressing the residents of L. Maavah island, President Muizzu underscored the challenges faced by the economic sector due to the non-issuance of additional currency in the current economic climate.
Despite these challenges, the government has initiated several small-scale development projects, with larger endeavors slated to commence in June and July, President Muizzu announced. Importantly, he emphasized that these projects would be executed without resorting to printing money.
Highlighting the nation's prudent financial management, President Muizzu revealed that the Maldives is successfully importing oil and meeting debt obligations without the need for additional currency circulation.
"We are ensuring timely payment of our foreign debts, with all obligations due by April being met without delay," President Muizzu assured. "Moreover, our oil imports are being financed without resorting to printing money."
The President also noted that the Maldives' economic model has garnered praise from foreign financial institutions, attributing this commendation to the government's robust economic policies. This endorsement underscores the country's commitment to sound fiscal management and sustainable economic growth.
