The government has taken out a USD 50 million (MVR 770 million) loan through the Maldives Airports Company Limited (MACL).
Adhadhu understands that the loan was issued by the Bank of Maldives (BML). MACL will hand over the money to the government.
The government and MACL have not disclosed the details or the purpose of the loan and have not responded to questions.
President's Office Communications Minister Ibrahim Khaleel said he doesn't know a response to questions at this time.
While the government has taken a loan through MACL, Mohamed Umar Manik (M U Manik) who served as the company's Board Chairman for ten years resigned recently.
A source told Adhadhu that M U Manik decided to resign because the management was trying to act against rules and trying to recruit some employees who were previously sacked.
The 100 percent government-owned company, which maintains the main gateway to the country, has yet to appoint a new chairman.
According to statistics from the Privatization Board, MACL employed 3,951 people as of the second quarter of 2023. The company's assets are worth more than MVR 26.7 billion.
President Dr. Mohamed Muizzu recently said the country faces difficult days ahead due to a financial crisis.
“The next two months will be the most difficult, as it happened, this is the most critical time. It will become much easier after July. But we’re starting now to do the work necessary to earn income,” he said earlier this month during a visit to Thaa atoll.
The financial crisis has made it difficult to carry out development projects and make payments to fishermen for their catch.
It is unclear whether any country has provided money as budget support because the government has not disclosed information.
