Saeed Is Not Fit to Talk About State Debt Says Ameer

Former Finance Minister Ibrahim Ameer has strongly criticized Minister of Economic Development and Trade Mohamed Saeed, saying Saeed is not qualified to speak about the country’s public debt.

Ameer made the remarks in a post on social media after Saeed, during a press conference held at the President’s Office today, accused Ameer of being responsible for the Maldives’ debt situation. Ameer has been an outspoken critic of the current government’s economic policies.

In his post on X, Ameer said that after nearly three years under the current administration, the value of the US dollar has risen to around MVR 21 on the parallel market, while businesses and the public continue to face severe shortages of foreign currency. He also accused the government of excessive spending from the state treasury despite the country’s financial difficulties.

Ameer further claimed that investors have lost confidence in the government and that the credibility of the country’s financial institutions has been damaged.

He also alleged that the government had “drained the Bank of Maldives” and used the savings of ordinary citizens. According to Ameer, during the previous MDP administration, the government was able to secure financing because it had the confidence of investors. In contrast, he argued that after three years in office, the current government has struggled to attract lenders willing to provide financing.

Ameer also blamed the government for a significant increase in the cost of living, claiming that prices of goods have risen by about 30 percent due to poor economic management. He accused Minister Saeed of undermining the Maldivian economy and said the government has neither a clear plan to repay its debts nor a strategy to raise the funds needed to do so.

Concluding his statement, Ameer said,“This government does not know how to manage fiscal and economic policy according to the country’s circumstances. Mohamed Saeed is not fit to speak about public debt.”