Deputy speaker: MMA governor failed to perform his duty

Ahmed Nazim, the deputy speaker of Parliament, has accused Ali Hashim, the governor of the Maldives Monetary Authority (MMA), of failure to perform his duty.

The Parliament on Monday, held the first reading on a fiscal responsibility bill. The government bill is sponsored by Thulusdhoo MP Ibrahim Naseem.

During the preliminary debate, Nazim, who represents the Dhiggaru constituency, said that the governor of the central bank is responsible for the state’s monetary policy, but that Hashim had failed to perfom this duty.

“I don’t see the governor performing this duty. The governor has not provided any counsel to the government in the seven months that the new administration has taken office. Nor has the Parliament received any counsel,” he said.

Hashim was appointed as the governor of MMA on September 8, 2019, during the Maldivian Democratic Party (MDP) administration, which held office from 2018-2023. He also served as finance minister from 2008-2010.

Speaking further, Nazim said that the government submitted the bill to improve the economic situation. He said that the government needs to implement two key fiscal policies to address the issue; raising taxes and spending that money.

Nazim also expressed concern over the low salary earned by many professionals. He said that:

• There are 124,749 people who contribute to the pension fund
• 30 percent of them receive a basic salary of under MVR 5,000
• 41 percent of them (51,193 individuals) receive a salary of under MVR 10,000

“The government’s goal is to pay workers good salaries. And to facilitate ways to improve their economy,” he said.