Friday
19th Apr 2024
Dhivehi Edition
President Solih. Photo: President's Office.
President Ibrahim Mohamed Solih has asked citizens to be mindful of global pressures and to implement cost-cutting measures.
He made the statement while addressing a ceremony held to honor long-serving employees of the President’s Office.
President Solih urged all citizens to prepare for such an event by ‘adopting lifestyle changes’, citing individual responsibility in preparing for such a situation. He espoused measures such as economizing, saving, reducing electricity costs, and limiting the use of electrical appliances.
The President’s comments came at a time when average market prices are on the rise. It appears even more tone-deaf, in light of warnings issued by JPMorgan just last week. JPMorgan listed Maldives as facing critical risk, anticipating that the country could exhaust foreign reserves and could default by the end of 2023.