President Dr Muizzu said that the country would be bankrupt today if swift mitigating measures had not been taken against the effects of the dire economic status the country had been in when he had assumed office.
President Dr Mohamed Muizzu has stated that the Maldives would be facing bankruptcy today if swift action had not been taken to mitigate the effects of the dire economic status the country had been in when he had assumed office.
Speaking in Haa Alif Baarah yesterday afternoon, the President said that he had taken some politically challenging, nevertheless vital, actions to overcome the economic difficulties because he intended to completely fulfill his pledges to the citizens.
He said that plans are being drafted to fulfill said pledges, and that his administration had worked from day one to prop up the country's economy once again.
"If we had come to this day [without taking swift action regarding the economy], we would have defaulted by now. Meaning we would have failed in paying back foreign debts. We would be in a position we could not overcome," the President said.
The President said that the country's economic situation is currently on an upward trajectory, owing to important and timely action taken by his government. He pointed out that both the International Monetary Fund and World Bank had commended his administration for these efforts.
The President assured that through persisting with these efforts, the country's economy can see a full recovery in the coming future.
"As we walk on this path that we have chosen, God willing, when we invite investors, those who will take up large projects will come," he stated.
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