The Member of Parliament for the Kudahuvadhoo Constituency, Hussain Hameed, highlighted the Government’s efforts in addressing the economic challenges of 2024, describing the prevention of bankruptcy as one of the Administration's key accomplishments.

Speaking on the MMTV Bodu Khabaru programme, MP Hameed stated that discussions about the Maldives facing bankruptcy have ceased, attributing this to President Dr Mohamed Muizzu’s measures aimed at stabilising the economy.

He noted that 2024 was a particularly challenging year for the Maldivian economy but acknowledged the Government’s steps to address the situation.

According to MP Hameed, warnings from international financial institutions regarding the country’s economic stability have lessened, and downgrades of the Maldives’ credit rating by global agencies have ceased.

MP Hameed stressed that when the current Administration assumed office, the Maldives was facing significant difficulties in managing foreign debt repayments. He stated that despite these challenges, the Maldives has avoided defaulting on any foreign loans, which he attributed to the Administration’s strategic and effective financial measures.