The opposition Maldivian Democratic Party (MDP) has announced plans to hold a protest in the capital, Malé, on August 12.
The decision to demonstrate on August 12—a date marked as "Black Friday"—was announced by MDP Chairperson and former President Mohamed Nasheed.
Speaking at an MDP National Council meeting last night, Nasheed said the purpose of the protest is to voice concerns over the rising cost of living and other socio-economic challenges facing the public.
"As we organize this protest to coincide with Black Friday, we want to raise our voices against the soaring prices of goods, the rising value of the dollar, and the overall hardships currently confronting households and families," Nasheed said.
The cost of living has surged under President Mohamed Muizzu’s administration. According to official government statistics, the price of essential food items has risen by eight percent within a single year.
Data from the Statistics Bureau’s Essential Commodities Price Index indicates that the sharpest increases over the past year were seen in gas and fuel. Prices for food, beverages, and personal care products have also trended upwards.
Furthermore, the exchange rate for the US dollar has climbed substantially due to a failure to curb dollar expenditure and insufficient growth in dollar-denominated revenue. The current market rate for one US dollar has reached MVR 20.20.
