Minister of Economic Development and Trade, Mohamed Saeed, has stated that people are undermining the financial system of Maldives because they are politically frustrated.
The remarks come in response to the circulation of unfounded stories about the economic state of Maldives, including rumors suggesting the country's pursuit of assistance through an International Monetary Fund (IMF) programme, which the government has denied.
Minister Saeed emphasised that certain individuals are working to erode the credibility of the financial system due to the situation not being in the negative situation they expected, and he characterised these actions as stemming from political frustration. He clarified that Maldives is not obligated to participate in any specific financial institution program and asserted that the economic situation is progressing more rapidly than initially projected.
Contrary to claims of economic slowdown, international financial institutions are forecasting a 5% growth for Maldives this year. These institutions also acknowledge the government's decisive actions, implemented in the face of a precarious economic situation inherited upon assuming office.