Muizzu meets heads of IMF and Abu Dhabi Fund

Feb 13, 2024, 5:58 AM
President Dr. Mohamed Muizzu and ADFD Director General Mohammed Saif Al Suwaidi. -- Photo: President's Office

President Dr. Mohamed Muizzu and ADFD Director General Mohammed Saif Al Suwaidi. -- Photo: President's Office

President Dr. Mohamed Muizzu has met the heads of the International Monetary Fund (IMF) and the Abu Dhabi Fund for Development (ADFD) in Dubai on the sidelines of the World Governments Summit 2024.

During the meeting with IMF Managing Director Kristalina Georgieva, discussions were held on areas of cooperation, including climate change, adaptation and resilience.

According to the President's Office, Georgieva stressed the critical necessity for implementing comprehensive fiscal structural reforms and consolidation strategies to fortify a versatile economy against external shocks and internal challenges for the Maldives.

During the meeting with ADFD Director General Mohammed Saif Al Suwaidi discussions were held on the long-standing bilateral relations between the Maldives and the UAE and the contributions from the Abu Dhabi Fund for the development of the Maldives.

Muizzu thanked ADFD for the continuous assistance provided to the Maldives and further discussed areas of cooperation and the progress of ongoing developmental projects supported by ADFD.

Comments

Read More

Latest News

MoU with India to build fitness centres in three islands

The Maldives and India signed an agreement to establish fitness and recreation centres on three islands using Indian grant assistance. Part of the High Impact Community Development Projects, the initiative aims to promote healthy lifestyles and strengthen community ties for residents of all ages.

Pork and alcohol will not be allowed in Rasmale': Muizzu

President Muizzu announced that the Rasmalé development will strictly prohibit alcohol and pork, with these bans to be legally codified. He emphasized that the project aims to attract a Muslim clientele, including Maldivians and foreigners. The 500-hectare site is being sold to a UAE developer under a 99-year lease agreement.

Thalassemia patients continue to face medication shortages

Thalassemia patients in the Maldives are facing a critical six-month shortage of essential medications, forcing many to interrupt vital treatments. The scarcity has worsened under the new state-owned State Pharma, which provides only limited supplies. This crisis also affects those with cancer and mental health conditions nationwide.

Tourist arrivals expected to fall short of previous record

Maldives Finance Minister Hassan Zareer announced that tourist arrivals this year are expected to fall short of previous records and targets. The government revised its year-end estimate to 2.17 million visitors, citing geopolitical tensions as a factor. This decline marks the end of a five-year growth trend for the nation's tourism sector.

Bangladeshi national sentenced to 18 years for knife attack

Jahangir Mia, a Bangladeshi national, was sentenced to 18 years in prison and fined seven million Rufiyaa for a knife attack on a Nepalese cashier in Hulhumalé. The victim survived a neck injury, and the court deducted Mia's time already served from his initial 20-year sentence. He was apprehended within 24 hours of the assault.

MVR 59.7 billion budget proposed for 2027

The Maldives government proposed a MVR 59.7 billion budget for 2027, focusing on increased development spending despite a lower total figure than 2024. While revenue is expected to rise, a MVR 9.4 billion deficit is projected due to higher expenditures. The state plans to secure MVR 18.9 billion in financing to manage debt and costs.

Italy awards highest civilian honour to Mahudhee

Italy is posthumously awarding Staff Sergeant Mohamed Mahudhee the Gold Medal for Civil Valour, its highest civilian honor, for his bravery in a rescue mission for Italian tourists. A fund has also been launched to support his family following his tragic death during the operation.

Newsletter

Get the latest news delivered straight to your inbox