Maldives Foreign Minister Dismisses Need for IMF Assistance

Foreign Minister Moosa Zameer has stated that the Maldives is not currently in a position that requires seeking assistance from the International Monetary Fund (IMF) bailout program. The minister made these remarks in response to a question from a foreign newspaper while in Sri Lanka.

Zameer emphasized that the financial challenges facing the Maldives are temporary and that the country has not reached a point where IMF intervention is necessary. He also highlighted that the Maldives has international partners willing to provide support in overcoming current obstacles.

This statement comes in the wake of recent downgrades to the Maldives' credit rating by various agencies, citing increased risk of default due to the country's debt situation. The government has been implementing various measures to address these economic concerns.

The minister pointed out ongoing efforts to improve the country's financial standing, including reforms to the tax system and cost-cutting measures in state-owned enterprises. These initiatives, according to Zameer, are expected to enhance liquidity and strengthen the country's economic position.

The government's stance reflects confidence in its ability to navigate the current financial challenges without resorting to external bailout programs, despite concerns raised by international financial observers.