Thursday
2nd May 2024
Dhivehi Edition
Ministry of economic development and trade
Financial Institutions have Confidence in President's Reforms
Economic Minister Mohamed Saeed.
Foreign stakeholders have assured the President of their assistance in implementing the economic reforms he has launched, Minister of Economic Development Mohamed Saeed said.
Speaking to reporters during his visit to Dubai to attend the World Government Summit held at the Burj Al Arab in Dubai today, Saeed said the government is committed to restoring investor confidence in the economy and improving the country's financial situation.
International financial institutions have praised the steps taken by the government to improve the financial situation of the country. The International Monetary Fund Managing Director paid a courtesy call on the President yesterday and praised the President's efforts to improve Maldives financial situation and the economy, he said.
Saeed said that stopping the printing of money is the best decision a country's leader can take in such a situation. Saeed said the IMF welcomed the major reforms mentioned in the Presidential Statement that Dr. Muizzu gave to Parliament.
"They very much welcomed the fact that the President said in a presidential statement that he would reform certain things. And they [the IMF] said that it would only improve Maldives’ financial situation," he said.
He further said that the countries, international organizations and financial institutions will also support the President's reform policies and assist in the implementation of these policies.
The number of tourists visiting Maldives has been increasing significantly in the past six months. Noting that 10,000 tourists arrived two days ago, he said the increase in tourist arrivals would boost other economic activities in the surrounding area.
In addition, Saeed said the government has paid 50 percent of the 7 billion MVR owed to businesses by the previous government when it took over the government.