The International Monetary Fund (IMF) and the World Bank accept the government's economic manifesto, President Dr. Mohamed Muizzu said on Tuesday.
Speaking in Dhiyamigili island on his tour of Thaa atoll, Muizzu said the IMF and the World Bank accept the economic manifesto promoted during the election.
"The economy we inherited is in a bad state. We need to take measures because of the level of debt. We have started a lot of hard work to fix this. Both the IMF and the World Bank accept the economic manifesto I presented during my campaign," he said.
The President said he had met with officials from the World Bank and the IMF and they agreed that the solution to improve the country's economy was to implement the government's policies. The two agencies will cooperate in this regard, he said.
Noting that the country was facing a dire economic situation, Muizzu said efforts should be made to overcome the debt.
"We have started a lot of hard work to fix this. The IMF and the World Bank will cooperate," he said.
A delegation from the World Bank met with ministries this week to discuss the economy and financial situation in Maldives. They agreed to provide technical assistance to manage the economy.
The IMF also forecasted a 3.3 percent slowdown in the Maldives' economy this year. The economy grew 8.1 percent last year.
The Monetary Authority of Maldives (MMA) has forecast that the economy will grow by 5.5 percent this year while the government forecast is at 6.7 percent.
