Finance Minister Moosa Zameer states this administration has paid off more than USD 1 billion in debt over the last 2 years.
He made these comments while speaking at the project formalisation ceremony with private contractors for people-focused development initiatives earlier today.
Zameer said the country’s finances were in a fragile state when President Dr. Mohamed Muizzu took over office.
Zameer noted that the government has made significant efforts during the past year to strengthen fiscal responsibility and restore confidence in the economy.
He said the country's financial situation is now on track, thanks to the efforts made to strengthen it. The Minister said that the government has paid more than USD 1 billion in external debt (including principal amount and interest) in the past two years.
Zameer further said that the Maldives has restored international confidence and obtained debt relief from its allies.
He added that countries are now accepting the Maldives as a reliable partner
