By President Dr. Mohamed Muizzu has reaffirmed his government’s commitment to standing with the people of the Maldives, dismissing criticism from detractors who oppose certain economic policies designed to strengthen the nation’s financial stability and increase dollar availability.
The government recently announced a policy requiring resorts to exchange a portion of their tourism income through local banks. This decision aims to boost the country’s dollar reserves, easing currency shortages and ensuring economic benefits reach a broader segment of the population.
Addressing concerns raised by opponents, President Muizzu declared, “Politicians who do not want to benefit the people without wealth will be very clear to the people in the future! This government will continue to be on the side of the people and bring justice and prosperity to all the people!”
The President emphasized the need to curb the influence of the wealthy elite and ensure that the country’s economic progress benefits all citizens, not just a privileged few. “The rich and influential must not dictate the nation’s future at the expense of ordinary Maldivians. Justice and equality are the cornerstones of our administration’s policies,” he said.
The policy has drawn criticism from some stakeholders, particularly those with vested interests in the tourism sector. However, government officials argue that the measure is necessary to address structural economic challenges and protect the interests of the Maldivian people.
By ensuring that a portion of tourism revenue flows through local banks, the policy is expected to improve dollar circulation in the economy, reduce dependency on foreign financial institutions, and support small and medium enterprises that rely on access to foreign currency.
The administration has urged the public to view the policy as a step toward economic fairness and resilience. “This is not just an economic decision but a moral imperative to stand with the people and secure the future of the Maldives,” the President reiterated.
The government’s resolve to implement this policy signals a broader effort to redistribute economic benefits and address longstanding disparities in the tourism-driven economy. President Muizzu’s statements underscore his administration’s focus on ensuring prosperity for all Maldivians, despite pushback from powerful interests.
The move is being closely watched by international observers and local stakeholders, as the Maldives charts a path toward inclusive economic growth.