VP Highlights Debt as Major Obstacle to Sustainable Development for SIDS

Vice President Uz. Hussain Mohamed Latheef on Wednesday asserted that debt remains the biggest barrier to sustainable development for many developing nations, particularly most Small Island Developing States (SIDS).

He delivered these remarks at the “Debt Sustainability Support Service” event, held on the sidelines of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain.

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The Vice President stressed that the debt burden faced by SIDS is not a result of mismanagement but stems from a systemic failure of the international financial architecture. He called for comprehensive financial reform, beginning with SIDS, and underscored the need to create fiscal space for development investment, expand access to concessional finance, and build more sustainable, manageable debt portfolios.

He reaffirmed the Maldives’ support for the SIDS Debt Sustainability Support Service and urged the timely operationalisation of the initiative. He noted that the service has the potential to offer solutions that reflect the unique challenges of SIDS, act as a platform for knowledge-sharing and best practices, and back innovative, homegrown solutions, without adding to debt burdens.

Vice President Latheef participated in the event alongside the Prime Minister of Antigua and Barbuda, His Excellency Gaston Browne; Under-Secretary-General for Economic and Social Affairs, Mr Li Junhua; and Under-Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries, and SIDS, Ms Rabab Fatima.

He is currently in Spain representing the Maldives at FfD4, which is taking place in Seville from 30 June to 3 July 2025.