Maldives’ Financial Recovery Outpaces Forecasts, Says Economic Minister

Minister of Economic Development and Trade Mohamed Saeed has asserted that the financial situation in the Maldives is showing signs of improvement at a faster rate than initially anticipated. 

This statement comes in response to recent claims suggesting that the Maldives had approached the International Monetary Fund (IMF) for assistance, purportedly due to financial distress.

Addressing the allegations, Minister Saeed took to social media platform X on Thursday evening to refute suggestions of a looming bankruptcy and the country’s involvement in an IMF program. He dismissed such assertions as unfounded, attributing them to a group of individuals he accused of attempting to sow distrust in the nation’s financial stability for political motives.

President Dr. Mohamed Muizzu met with IMF Managing Director Kristalina Georgieva during his visit to Dubai for the World Governments Summit. Discussions during the meeting centered on the importance of implementing comprehensive fiscal reforms and consolidation strategies to bolster the Maldives’ economy against both external and internal challenges.

Georgieva commended the Maldivian government for its proactive measures under Muizzu’s leadership, expressing confidence in the administration’s economic reform agenda. The meeting underscored the mutual commitment to strengthening the Maldives’ economic resilience and stability moving forward.