Minister of Finance rejects rumors of national reserve decline


The Minister of Finance Mr. Ibrahim Ameer denies rumors centering around the decline in the national reserve of the Maldives.

Moreover, the minister’s statement comes as a response to the recent comments made by Parliament Speaker Mohamed Nasheed, who claimed that the country’s reserves were likely to hit critical levels.

Mr. Ameer however, stated that the country’s economy was recovery significantly and the expanding US Dollar income was enhancing the reserve growth.

According to the minister, the country’s national reserves will be maintained at pre-Covid levels by next year.

Minister Ameer had further clarified that the country’s government was sufficiently capable of settling all outstanding state debts.

Meanwhile, the cabinet member had criticized spreading of baseless rumors that were likely to adversely impact the Maldivian economy and its perception in front of international investors.

While noting that the Maldives’ net and gross reserves were in appropriate conditions, Mr. Ameer further declared that the country’s economic recovery will hit pre-Covid levels by the end of 2022.