President Dr Mohamed Muizzu has expressed confidence in the Maldives’ economic trajectory, assuring that the country will be able to manage its foreign debt repayments without difficulty.

Addressing a People’s National Congress (PNC) rally at the party’s headquarters on Wednesday night, the President said the Government is working to rebuild a weakened economy inherited from the previous administration.

On foreign debt, the President highlighted that discussions were ongoing with allies to ease repayment terms. He referred to the recent assurance by the Chinese Ambassador that China would facilitate debt repayment arrangements for the Maldives.

“We are paying whatever debt we owe. We are also planning for future debts, and we will settle them without any worries" he said.

Turning to development, the President noted that several stalled projects in the atolls are now being resumed, while new projects are also being rolled out. He announced that construction of 3,000 housing units will begin this year in the Malé area, with an additional 4,000 units to be developed under the Indian Line of Credit.

He also highlighted the launch of the National Service Programme, describing it as an initiative to instil discipline, character, and work ethic in youth, while contributing to the Government’s vision of holistic development.

Reiterating his campaign pledges, President Dr Muizzu said he remained committed to delivering on all promises made during the 2023 presidential election.

“I remember all the promises I made to the people. As I said on the first day, I give everything I ask the people to do with sincere intentions. We are working to fulfil all those promises,” he said.

The President concluded his speech by assuring the public that the Government would continue to stand with the people and called for their cooperation and participation in achieving national goals.