The government has denied that the Maldives is facing a serious fiscal crisis, dismissing claims about imminent bankruptcy as part of efforts to undermine the credibility of the banking and public finance systems.
The Economic Ministry said in a statement yesterday that allegations about bankruptcy were false, baseless and intended to derail economic and fiscal reforms initiated by the government.
Despite fiscal constraints and challenges, international financial institutions have stated that economic growth in the Maldives was faster than expected, the Economic Ministry said.
“The government wishes to assure the public that public interest and order in our banking system will be maintained, while carrying on its mandate of provision of essential public services, proceeding with the reform agenda to build a sustainable stronger economy,” the Economic Ministry statement read.
The statement appealed against efforts to bring the government into disrepute and to portray the country’s financial system as weak with false and misleading rumors.
Economic Minister Mohamed Saeed previously denied claims on social media about the government planning to join an International Monetary Fund (IMF) program to alleviate the alleged fiscal crisis.
