Opposition leader and former President Abdullah Yameen says the current administration had emptied out the state reserve it had inherited from his government during its 'season of love.
He did not give details on what he called the 'season of love'.
The former President said this while speaking at the opposition rally held last night to formally declare him as the opposition's Presidential candidate for next year's election.
Citing a report by the World Bank, Yameen said that the country's debt is currently at USD 6000 million and that this amounts to MVR 250,000 per head of the population.
Yameen further noted that the administration won't disclose the amount in the state reserve and that it would only reveal the gross reserve. He explained that the gross reserve cannot be used for state expenditure.
The former President said that he estimated that the state reserve has around USD 280 million dollars to buy stables and oil through State Trading Organization STO and that at the end of his administration the state reserve had USD 900 million dollars along with USD 150 million dollars as sovereign bonds.
Yameen further said that the current administration is barely being kept alive and that it was highly dependent on the USD 100 million dollars promised by India.
Though the opposition has attacked the government for its economical plans, labeling them as failures, the government has been adamant that the country was economically stable and that state reserves were sound.
