Deputy Speaker of Parliament and Member of Parliament for the Dhiggaru constituency, Ahmed Nazim, has called on the Maldivian government to openly disclose any available solutions to the country’s financial issues. Speaking at the Parliament’s Committee of Economic Affairs on Wednesday, Nazim emphasised the importance of informing both the public and parliament about the government’s plans.
Nazim stressed that citizens need to understand the feasibility of promised projects, especially now that the elections are over. “People in different islands need to know whether the projects can be implemented or not, right? Elections are already over. That is why I said let’s tell the citizens to face the truth as well,” he stated. He argued that the committee must prioritise the country’s financial health over party and personal interests.
Nazim pointed to the recent economic crisis in Sri Lanka as a cautionary tale. He noted that even major powers like India and China did not step in to help Sri Lanka as its economy collapsed, primarily because their own economic situations were not favourable. This, Nazim suggested, could also happen to the Maldives if immediate actions are not taken.
He believes that transparency about the Maldives’ economic status is crucial for enacting measures such as increasing the tax base. “Hence, if there are any remedies available, we have to drink this ‘bitter medicine’. What should we do? If we drag this matter out until we go bankrupt, it won’t be good,” he said.
Nazim urged the Ministry of Finance to reveal the true state of the Maldives’ economy honestly and without delay, rather than waiting until November to pass next year’s budget. He believes that early disclosure and clear communication are essential to prevent a financial crisis and to gain the necessary support for economic reforms.
As the Maldives faces its financial challenges, Nazim’s call for transparency and early action could play a key role in navigating the country through this difficult period.
