President Muizzu Repays $974 Million Debt to Secure Maldives' Economic Future

President Dr Mohamed Muizzu has announced the repayment of nearly USD 1 billion in outstanding national debt over the last 40 days, framing the move as a critical step toward revitalizing the Maldivian economy and ensuring long-term prosperity for its citizens. Speaking at a political gathering for the ruling People’s National Congress, the President emphasized that the administration is working with a national mindset to rescue the country from what he described as an "economic abyss." He argued that the economy had been severely weakened under previous opposition leadership, necessitating the current comprehensive economic strategy. The President highlighted the specific liquidation of USD 974 million in legacy debts as a direct result of targeted policies. This aggressive repayment strategy is intended to alleviate the financial burden previously imposed on every citizen and protect the economic interests of future generations. "The formidable undertaking to repay this amount was executed to secure the future of the nation," President Muizzu stated, adding that the revitalization of the economy remains the administration's highest priority. He noted that ongoing efforts are already yielding tangible success in stabilizing the nation's finances. Beyond debt management, the President underscored that his paramount focus is the improvement of public living conditions. To achieve this, the government is pursuing key administrative goals centered on increasing personal income for citizens and ensuring basic housing for all Maldivians. According to the President, these ambitions are being realized through meticulous planning and a strategic economic framework. He concluded that these interventions are essential to delivering the stability and prosperity that the Maldivian public desires.