Baarah constituency MP Ibrahim Shujau stated last night that development projects had not progressed at the expected rates and that over the last two years, the current government has had to pay off the loans taken by the Maldivian Democratic Party (MDP) government, with a USD 925 million debt being paid this month alone as well.
Shujau spoke at the ceremony held to celebrate the People's National Congress (PNC) winning all of the HA. Filladhoo seats in the 4th April Local Council Election and Women's Development Committee Election, gesturing to the above as the current government paid back the USD 524.68 million (MVR 8 billion) sukuk taken during former President Ibrahim Mohamed Solih's government (in 2021) this month, along with the USD 400 million (MVR 6.1 billion) currency swap issued to Maldives from India being repaid yesterday.
Shujau said last night that those repayments could have been used for development projects across many islands such as HA. Filladhoo.
"We are emotional because work that needs to be done hastily at our islands has not started because for the last two years, President Muizzu has been paying back the loans that were taken by them. It affects us. Our citizens in the islands have fallen on hard times," said Shujau, who is also the Senior Deputy Leader of PNC's Parliamentary Group.
"Citizens in our islands have had to live without getting a mosque for such a long time. But how can the mosque be built hastily? Nothing happened with all those loans that were taken. Everyone took that money. President Muizzu has to pay all those loans back."
Shujau went on to say that Maldivians want a "Maldivian nation" and that they do not want "that Maldives".
"That Maldives is a malevolent one. Loans will be taken one after another in that Maldives, without figuring out how to pay them back. They will not be responsible for the loans taken during that Maldives, whoever comes afterward will have to be responsible," said Shujau.
According to Shujau, what will start next will be the real PNC government. When it does begin, PNC party members who are living in the islands will be overjoyed and that change will come, as was said by Shujau.
"It will be a good change. Our party's grassroots need to prepare for that change. Our party's leadership will hopefully do sincere and honest work with our beloved citizens."
President Dr. Mohamed Muizzu has stated that the USD 524.68 million sukuk that was taken by the MDP government was paid back without defaulting. The President also said that mortgaged buildings with said loans such as the Finance Ministry's building and other government buildings have been saved.
USD 400 million was released under the currency swap agreement established between Maldives and India during President Muizzu's State visit to India in 2024.
According to the statement released by the Ministry of Foreign Affairs last night, the USD 400 million currency swap has been repaid. The statement also reads that the Indian government has decided to issue Maldives an additional currency swap of INR 30 billion to Maldives and that they are deeply grateful.
