Several projects could not be commenced because loans had to be repaid: President Waheed

President Dr Mohamed Waheed has said that the current government was not able to commence several projects due to having to repay the loans taken by former President Mohamed Nasheed’s government.

Speaking at a campaign rally in Noonu Maalhendhoo, President Waheed said that the country was in a state of bankruptcy by the end of Nasheed’s government, and that the current government had to repay loans worth about MVR 1.7 billion to various groups.

“We have been through a very difficult time over the past two years. We could not do several things, not because we didn’t want to do them. The previous government left the country bankrupt. The money necessary to buy medicine for our children, the money necessary to repair the school building, the money necessary to repair the harbour of this island – all this money had to be repaid, the unpaid bills for work done by citizens, had to be paid,” he said.

The president said that the unpaid bills left by Nasheed’s government had now been settled, and that this expense will not be carried forward to next year’s budget.

He said that it would be possible to launch projects next year, such as construction of harbours and establishment of sewerage systems in various islands.

He said that the government had decided to commence the harbour construction project in Maalhendhoo with the assistance of IDB, and assured that this project will be implemented soon.