Projects Delayed Due to Difficulties in Obtaining Funds from Abroad: Ameer

Finance Minister Ibrahim Ameer has revealed that it is now difficult to obtain loans funds from abroad due to the global economic situation, and that some projects in PSIP have been halted.

In response to a question by MDP member Hassan Shiyan regarding the date on which the agreements for the development of health centers in Alif Alif Atolls will be signed, Ameer stated that due to the Ukrainian war and the US and EU countries increasing interest rates, there are difficulties in obtaining finances through the sale of bonds and sukuk to the foreign market.

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Ameer stated that the focus has now been on issues such as payment of salaries and debt repayments.

“We are delaying the tendering and progress of PSIP projects these days, in order to carefully manage cash flow,” said the Finance Minister.

He also said that the bidding process for the projects will be completed as soon as the budget and cash flow are restored.

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