Finance Minister Ibrahim Ameer says an investigation must be conducted on the projects run on debt by the former government as their expenditures and output do not match.

The Minister made the comments while speaking at the parliamentary budget on the state's proposed budget for 2022.

Minister Ameer said the current administration was forced to take loans due to the COVID-19 pandemic.

Rebutting accusations of debt accumulation from the opposition, Minister Ameer pointed out that the government of former President Abdullah Yameen had amassed a debt of MVR 39.6 billion. In contrast, he said the current administration's debt is still at MVR 34 billion.

The Minister went on to say that the current government had to redo some of the projects run under the former government because of poor finishing and inadequate work.

President Maumoon's 30-year-old regime had accumulated MVR 6.2 billion. Under President Nasheed the debt was at MVR 11.3 billion while President Waheed had accumulated MVR 6.2 billion as debt. Under President Yameen's government, the state recorded a debt of MVR 39.6 billion. This includes state debt as well as sovereign guarantee debt.
Finance Minister Ameeru

Ameer said debt from loan agreements signed under President Yameen's administration was at MVR 58.9 billion while debt from loan agreements signed under this administration is at MVR 51.1 billion.

Budget 2022 Debt trap News Finance minister Ameer