Minister of Economic Development and Trade Mohamed Saeed has stated that the Maldives has successfully overcome what he described as the most significant financial challenge in its history, securing stability for the nation and renewed confidence for its people under the guidance of President Dr Mohamed Muizzu.

In a post shared on X, the Minister noted that the President had guided the country through a period of considerable economic uncertainty, restoring trust in the Maldives within global financial markets. He added that this renewed confidence is expected to continue strengthening in the years ahead.

Minister Saeed highlighted that the challenge stemmed from record levels of debt accumulated under the previous administration, particularly a major sovereign sukuk issued in 2021, which required a substantial bullet repayment in 2026. He described this obligation as one of the most serious financial tests ever faced by the country.

Despite concerns and assertions that the debt could not be repaid, the Minister said the Government, through careful planning, decisive leadership, and prudent fiscal management, had successfully navigated the situation and ensured national financial stability.

He further characterised the achievement as a historic milestone for the Maldivian people, underscoring that strong leadership and unity can overcome even the most daunting challenges. Minister Saeed emphasised that the country must now prioritise a stable and well-functioning governance system, moving beyond political divisions to focus on long-term national development and prosperity.