Attorney General's Office (AGO) has revealed it has begun reviewing loan agreements and contracts signed by the state, which may burden the country with debt or endanger its sovereignty.
A press release issued by the AGO stated the office would seek ways through which loan agreements and contracts which have been formulated in a manner that may endanger the Maldivian economy and sovereignty could be renegotiated, within the first 100 days of the administration. The AGO also revealed a special committee has been formulated in association with relevant ministries and the committee has been assigned the task.
On reviewing the documents, the committee would see if the provisions align with relevant laws and legal procedures, according to the AGO. In addition, if any agreement is found to be a danger to the economy and sovereignty, the committee would seek ways to renegotiate the agreements and begin work to that effect in renegotiable cases.
The committee would look into loan agreements, sovereign guarantee agreements and contracts on housing and infrastructure development projects, in addition to agreements related to public services, and tourism sector investment agreements.