Nasheed Says Successive Administrations Must Avoid Past Errors
Former President Mohamed Nasheed
Former President Mohamed Nasheed has stated that past wrongdoing by a former administration should not justify similar actions by successive governments.
Nimi dhiya verikamuga nurangalhu kameh hingaafai othumakee, mi verikamugai ves adhi dhen anna verikamehggai ves hama e kan e gothah kuraan oiy hujjatheh noon.
— Mohamed Nasheed (@MohamedNasheed) October 23, 2025advertisement
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His remarks come amid controversy surrounding a financial transaction between the Maldives Pension Administration Office (MPAO) and the Maldives Monetary Authority (MMA).
Senior government officials stated that the MPAO board approved the sale of a MVR 2.5 billion government bond in the secondary market through the MMA. The Finance Ministry has not released any official statement regarding the matter.
Experts, including former President Abdulla Yameen Abdul Gayyoom and former Finance Minister Ibrahim Ameer, have alleged that the MMA is effectively investing MVR 2.5 billion in the pension fund and then having the MPAO reinvest the money in a government bond, a process they say resembles money printing.
Nasheed, in a post on X today, reiterated that wrongdoing by a former administration should not be used as a precedent for future governments, although he did not specify any particular transaction. Observers have linked his comments to the alleged bond sale.
The transaction prompted Saruvash Adam, a private sector representative on the MPAO board, to resign on Wednesday, citing serious legal, fiduciary, and economic concerns. Former Economic Minister and main opposition Maldivian Democratic Party (MDP) Chairperson Fayyaz Ismail criticised the government for attempting to misuse public funds and urged board members of the MPAO and MMA to resign if they were unable to oppose such moves.
