Finance Minister Guarantees Uninterrupted Supply of Food, Fuel and Medicine

Finance and Public Enterprises Minister Hassan Zareer has assured the public that the government has secured sufficient funds to maintain an uninterrupted supply of essential commodities, including food, fuel, and medicine. The Minister's statement comes as a direct response to allegations that the Maldives had depleted its foreign currency reserves due to the pressure of servicing national debt obligations. Addressing the concerns via social media, Minister Zareer emphasized that under the leadership of President Dr. Mohamed Muizzu, the administration is managing its debt repayments in a responsible and planned manner. He clarified that funds are being systematically deposited into the Sovereign Development Fund, adhering to the established regulatory framework for debt settlement. Zareer reaffirmed that the government maintains the necessary financial liquidity to import critical food items and pharmaceuticals, dismissing claims of a looming shortage. This stability is intended to reassure both the public and international trade partners regarding the nation's fiscal health. As part of this strategic debt management, the government has successfully settled Treasury bills inherited from the previous administration. Specifically, the administration recently paid USD 50 million to the State Bank of India (SBI), marking the final installment of Treasury bills issued in 2019. These bills had been structured for repayment in three separate tranches. By clearing these high-priority obligations, the government aims to reduce the overall debt burden while ensuring that essential public services and the supply chain for basic necessities remain unaffected by fiscal pressures.