Minister of Fisheries and Ocean Resources Ahmed Shiyam has accused the opposition of attempting a financial coup through the Bank of Maldives (BML) by imposing dollar limits.
Speaking at the latest rally held by the People's National Congress (PNC), Minister Shiyam claimed that the opposition Maldivian Democratic Party (MDP) is irresponsibly attempting to undermine the rights of the citizens. He, however, praised President Dr. Mohamed Muizzu for thwarting the alleged plot with his wise decision-making, adding that MDP has once again revealed its true character.
Additionally, Minister Shiyam criticised MDP for leaving the country in a state of financial ruin after their five-year term. He said that while the previous government took on significant loans, they failed to increase the nation's income. He dismissed the justification of the COVID-19 pandemic for the financial mismanagement, noting that the previous government had taken out 39 loans amounting to USD 2.7 million, accumulating USD 3.9 million in debt, with some loans taken in the name of the pandemic.
Furthermore, Minister Shiyam expressed concern that despite the substantial borrowing, the country has seen little benefit. He pointed to the slow progress of key projects, such as the Velana International Airport (VIA) passenger terminal, as evidence of the previous government's failures. Instead, he blamed the printing of USD 519 million in currency as the primary cause of the current dollar shortage in the Maldives. He also called on opposition parties to hold the government accountable in a responsible manner that benefits the citizens.