PNC deputy leader asks that Parliament ascertain Maldives’ ability to finance essential imports

People’s National Congress (PNC)’s deputy leader Adam Shareef Umar has sent a letter to the Parliament’s speaker, former president Mohamed Nasheed, seeking to ascertain that Maldives has the financial capacity to import essential products such as fuel, staples and medical supplies until the end of 2023.

In the letter sent Monday, the Maduvvari MP also asked that the Parliament obtain the exact balance of the foreign reserve as of the end of October, before the passage of the 2023 state budget.

Adam Shareef wrote in his letter with the submission of the 2023 budget and the 2022 supplementary budget, the expenditure and budget deficit of the last four years had significantly increased. He accused the government of corruption, wastage, and mismanagement of public finances.

He also accused the government of failure to release accurate information regarding the state of Maldives’ finances, and said it was a matter of great concern to the people.

As Maldives’ debt rises year by year, the people are worried the country does not have the financial capacity to import essential products such as staples and fuel, he said.

The letter follows remarks by Nasheed during Monday’s parliamentary sitting, when he said Maldives’ foreign reserve was concerningly depleted, that the country did not have the funds to cover essential needs in the coming weeks and months, and was headed towards bankruptcy.

Finance Minister Ibrahim Ameer responded on Twitter on Monday afternoon that people in responsible positions were making deliberate attempts to create a negative image regarding the Maldivian economy to fulfill various political purposes.

“Talk of Maldives going bankrupt is nothing new. Different people are engaging in these talks for different political purposes, to weaken the government, and to diminish and muddy the achievements and progress we are making despite the challenges we have been facing,” he said.

Deputy Speaker, Eva Abdulla responded that releasing the information is the only way to alleviate the fears of the people.