Minister of Finance Ibrahim Ameer has stated that there have been no hidden details regarding foreign loans. His remarks came in response to allegations made by Dr. Mohamed Muizzu, the presidential candidate of the People's National Congress (PNC), who claimed that the government was concealing information such as interest rates on foreign loans.
During a campaign event held in Kamadhoo, Baa Atoll, Dr. Muizzu accused the government of withholding loan specifics, asserting that the Maldives Monetary Authority (MMA) was unaware of loan details and associated interest rates. He further alleged that the government had leveraged some Maldivian schools as collateral to secure these loans.
Minister Ameer addressed these allegations by affirming that information regarding foreign loans was not being concealed. He clarified that the information was already being shared with the Parliament of the Maldives and the MMA in accordance with the law. He also assured the public that further details would be made available on the finance ministry's official website.
Additionally, Minister Ameer highlighted that the previous government had maintained secrecy around loans and associated information. As such, he argued that individuals who had concealed the information during their tenure had no credibility to discuss it now. He also said that transparency was not consistently upheld.
Furthermore, Minister Ameer refuted these claims to rumors suggesting that the Maldives had sought a substantial loan from the Government of India and had engaged in related discussions. He said that reports of the Maldives offering India a loan of USD195 million were untrue and further asserted that no such discussions were taking place with any party.
The government has cautioned against the spread of false narratives regarding the country's economy and finances. Experts have stated that such falsehoods could have adverse consequences for the economic stability of the Maldives. International financial institutions have acknowledged the economic progress achieved by the Maldives, with increasing state revenue and a commitment to timely loan repayments, ensuring a promising financial outlook.