Minister of Economic Development and Transport Mohamed Saeed says there is no fear that the country will default economically if it does not pay any of its debts.
Speaking at a press conference held at the President's Office today, Minister Saeed said that the government has a strong policy on paying money owed to foreign parties.
The Minister noted that the payment under the swap facility has been completed as part of the close relationship with the Government of India.
Minister Saeed also touched on the USD 500 million Sukuk payment that was made earlier this month.
He said that although some politicians and newspapers tried to create unrest among the people by saying that the money would not be paid, the repayment of the debt without any burden on the people has increased the confidence of investors.
The Minister applauded the sound economic policies of President Dr. Mohamed Muizzu to take the country out of an economic downfall.
