Former President and Maldives Democratic Party (MDP) Chairperson Mohamed Nasheed has criticised the government’s repayment of a USD 150 million Treasury bill facility, warning that using available dollars to settle the debt has further tightened foreign currency liquidity.

“Now, even BML has no dollars left. Public transfers and TTs have also come to a halt. This government has failed at this. When assuming power, they promised to restructure the previous government’s debt and provide relief to the Maldivian people. Yet, it has only become more and more of a burden for the citizens.”

Nasheed made the remarks on X after the government paid the final USD 50 million tranche of the facility on 17 September, completing repayment of the USD 150 million debt.