Minister of Economic Development and Trade Mohamed Saeed has revealed that 50% of the outstanding USD500 million in bills has already been settled. He made the statement during an exclusive interview following a meeting with a delegation from the World Bank.
Speaking to PSM News, Minister Saeed highlighted that the World Bank team's visit to the Maldives aimed to grasp insights into the country's economic development plans and strategies for economic management. He said that the meeting delved into comprehensive discussions on such matters. He also took the opportunity to brief the World Bank team on the government's plans, the current financial status of the Maldives, and the economic outlook for the year.
Additionally, Minister Saeed acknowledged the financial challenges during the government transition, revealing that outstanding bills amounted to approximately USD500 million. He, however, expressed optimism, noting they have successfully reduced this figure by 50%. He also acknowledged the presence of remaining outstanding bills, noting ongoing efforts to address them.
Furthermore, Minister Saeed pledged to share information about the Maldives' current situation and its economic expansion plans with various financial institutions, including the World Bank and other nations. He also said the collaborative effort is expected to facilitate the economic growth of the Maldives.