Minister of Economic Development and Trade Mohamed Saeed has affirmed that the Maldives will not participate in an International Monetary Fund (IMF) program to address its economic challenges. Addressing rumours circulating on social media about the country’s economic stability, the Minister stated that the Maldives would pursue its own solutions.
Minister Saeed attributed current economic difficulties to what he termed “extremely irresponsible” spending by the previous administration. However, he emphasized that the government is implementing reform measures to address these challenges independently. “Maldives will not participate in programs of any specific organization. We will not even join an IMF program. Everything that is done will be done by the Maldives,” Saeed declared.
The Minister expressed confidence that the government’s actions will revitalize the economy. He cited positive indicators, including projected economic growth of 5.5% and an increase in tourist arrivals. Based on these factors, Saeed stated that the administration is optimistic about economic recovery.
Despite persistent speculation about potential IMF involvement, the Minister offered clear assurances that the Maldives will pursue a self-directed course to improve its economic situation.
