President: IMF has recognized govt's economic policy, will get investors

President Dr. Mohamed Muizzu has described the report recently published by the International Monetary Fund (IMF) regarding the Maldives as the agency’s recognition of the government’s economic policy.

IMF has welcomed Muizzu administration’s fiscal reform agenda, and its commitment to urgently implement it.

It is the last day of President Muizzu’s three-day tour of Thaa Atoll. His first stop of the day is Omadhoo.

Speaking to the residents of the island, the president praised IMF’s report on the Maldives.

He described the report as IMF’s recognition of the administration’s economic policy.

On this note, the President Muizzu said IMF has accepted the decisions his administration has “independently” made in accordance with its “own” policies to increase state revenue while also making ends meet and enhancing the nation’s economy. He highlighted some of the policies in this trajectory; subsidy reforms in a uniform manner and reprioritization and rationalization of projects under the public sector investment program (PSIP). 

He added that the acceptance of the Maldives’ policy is a positive message that would increase trust among investors and ease the process of securing investors for projects.

As part of his ongoing visits to Kolhumadulu atoll President Dr @MMuizzu arrived in Omadhoo Island this morning. Upon his arrival to the island, the President was welcomed warmly by the residents. pic.twitter.com/aRDoSbUAQ2

— The President's Office (@presidencymv) February 8, 2024

Speaking further, President Muizzu affirmed his administration’s support for Omadhoo’s developmental needs, as conveyed by the council. In this regard, he affirmed that the government will resolve the issues of space constraints and facility limitations at Omadhoo School, by allocating the issue as the highest priority.

He also pledged to place more emphasis on projects aimed at improving the people's livelihoods, including water and sanitation projects and projects aimed at the economic prosperity of the people.

However, he reiterated his remarks on the necessity of reviewing the developmental projects and submitting the reviewed list in order of significance to the island's development in line with the policy reprioritization and rationalization of projects.