Former President Abdulla Yameen has said that President Mohamed Muizzu lacks both the vision and the capability to steer the nation back onto the right track.
Speaking on a program aired by Sangu TV last night, Yameen stated that the current administration lacks the wisdom required to rescue the country from its ongoing economic and financial challenges. He highlighted government mismanagement and excessive spending as the drivers behind the current dollar shortage and rising inflation.
Dollar Value and Economic Mismanagement
Addressing the factors behind the surging value of the dollar, Yameen argued that debt does not accumulate in a vacuum but is a direct consequence of government policy.
"Debt is a policy of the government. Spending and expenditure are government policies. Therefore, when spending increases, the resulting rise in debt, the creation of that debt, and the failure to manage it are matters for which the government must take full responsibility," Yameen said.
Responding to the administration’s claims that it is burdened by the debts of the previous government, Yameen remarked that every administration leaves behind debt upon the conclusion of its term, noting that the government is a continuous organization. He emphasized that any president, not just Muizzu, would inherit prior debt upon taking office.
Regarding the rising cost of living, Yameen characterized the depreciation of the Maldivian Rufiyaa as a failure of the government.
"The devaluation of the Maldivian Rufiyaa is a government failure. The government is the entity tasked with maintaining the value of the currency. If the value of the Rufiyaa continues to fall, the price of goods will rise, and the price of the dollar will increase," Yameen stated.
With the dollar currently trading at MVR 21.85 on the black market, Yameen expressed skepticism that the government would be able to stabilize the exchange rate within the next three to four months or even by the end of the year.
Project Credit and Governance Experience
Yameen also pushed back against Muizzu taking credit for major infrastructure projects initiated during his presidency—such as the Sinamale' Bridge, Dharumavantha Hospital, and King Salman Mosque—asserting that Muizzu did not originate any of them.
"None of these projects were originated by Muizzu... What did Muizzu actually do regarding the bridge? That was Chinese aid. The Dharumavantha Hospital project was carried out by a Singaporean firm. There is no personal contribution from Muizzu in those," Yameen said.
Comparing the Administration to an Ant
Yameen metaphorically described the current administration’s perspective, suggesting they are overwhelmed by minor issues.
"To an ant, even a small mound of sand appears as a massive mountain. That is exactly what is happening with this government," Yameen remarked.
The former president further suggested that the administration is failing to secure foreign assistance because the international community lacks confidence in its ability to resolve issues. He noted that the downgrading of ratings by Moody’s and Fitch is a result of a loss in investor confidence.
Clarifying his personal stance toward Muizzu, Yameen stated that he harbors no personal animosity toward the President, noting that his resentment is reserved solely for former President Ibrahim Mohamed Solih.
"There is no animosity; my anger is toward Solih for my unjust imprisonment... I have no such feelings toward Muizzu. He is someone who came from within our own ranks," Yameen said.
However, Yameen vowed to continue criticizing Muizzu’s policies and confirmed that his own name would appear on the ballot for the 2028 presidential election. He declared that he would no longer work to get Muizzu elected and emphasized that individuals accused of corruption currently surrounding the President would find no place in his own circle.
