Janah condemns spread of false economic information, calls for cease

Renowned businessman and Principal Adviser to the President on Trade and Investment, Mohamed Ali Janah, has condemned the spread of false news about the Maldives economy, urging an end to such actions that could harm the nation's citizens.

Speaking at the ceremony where President Dr. Mohamed Muizzu addressed the residential community of Gaafu Alifu Atoll Vilingili during his visit, Janah emphasized that the Maldives is not a country with a stock exchange or large banks. He highlighted that the nation's development is propelled by traveling to foreign nations and securing funds from investors.

He emphasized that any news released about the nation's economy would reach all investors, and the spread of unfavorable news could significantly harm the nation.

“Any news released on the country’s economy will be on the investors’ desk every morning,” he said.

"For example, the scenes in Parliament. It worries our friends (investors). Negative press will have adverse effects on the people of the nation."

He further highlighted that the government's ability to consistently provide citizens with subsidies, such as Aasandhaa Insurance, depends on taxes derived from foreign investments and the expansion of the economy's base.

I am making a plea to cease spreading false information about the economy for personal gain, regardless of whatever purpose it is done for -- Janah

Janah had stated that subsequently, many efforts are made to convince investors that Maldives is an amenable country that has never defaulted and has never experienced overdue payments on a sovereign guarantee.

"I believe that there is nothing more dangerous to the country than those who spread false news and conduct actions that induce panic in investors in the midst of a smooth situation."

“I am making a plea to cease spreading false news about the economy for personal gain, regardless of whatever purpose it is done for.”

Janah remarked that even if senior government officials are targeted through various accounts and creating "bots" due to differences in opinions, harming the economy will have a direct negative impact on the people.

He asserted that the spread of false information on the country’s economy only results in harm to people's livelihoods.

"Do not play with the country’s economy. Do not obstruct the efforts of our President. We are prepared to perform any task for the development of the economy together with the President," Janah said.