Silencing Dollar Crisis Debate Will Not Solve Currency Shortage, says Yameen 

Former President Abdulla Yameen has criticised efforts to restrict public discussion of the Maldives’ dollar shortage, saying silencing citizens will not resolve the country’s foreign currency crisis. 

Speaking at an event marking the 60th anniversary of the resettlement of Thinadhoo City, Yameen questioned whether banning discussions and practices linked to the dollar shortage in the name of protecting the national interest could address the underlying problem.

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Yameen said the public would be reassured if the Finance Minister and the Governor of the Maldives Monetary Authority came forward to explain how the government plans to address the shortage of US dollars.

He argued that introducing legislative restrictions instead of explaining the government’s proposed solutions would not make the problem disappear and could instead worsen the situation. Yameen said the authorities should focus on addressing the causes of the currency shortage rather than attempting to suppress discussion surrounding it. 

Yameen also said he saw little prospect of the economy recovering from its current difficulties under the present administration, arguing that the government had yet to produce tangible results from its economic measures.

He said Maldivians must continue discussing major national issues rather than remain silent, adding that the rufiyaa’s depreciation over the past two years offered little indication that the economic situation would improve during the administration’s remaining term.

Yameen described the current economic situation as difficult and worrying for Maldivians, saying the public was facing growing uncertainty over the country’s economic future.