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Speaker displeased with Finance Minister's 5-month reserves claim

Mohamed Rehan
30 June 2022, MVT 13:31
Minister of Finance Mr. Ibrahim Ameer summoned to Parliament for inquiry -- Photo: People's Majilis
Mohamed Rehan
30 June 2022, MVT 13:31

Parliament Speaker Mohamed Nasheed has voiced his displeasure over Minister of Finance Ibrahim Ameer's written response affirming of a five-month usable reserve.

The speaker deemed that this response was incomplete.

Deputy Speaker and North-Galolhu MP Eva Abdulla had inquired from the minister about the government reserve's capacity to order staple foods, fuel and medicine for the next five months period.

In his response, the Minister of Finance noted that the mandated body of monitoring and reviewing foreign currency reserve is the Maldives Monetary Authority (MMA), in accordance to the Public Finance Act.

"The usable reserve from the foreign currency is not publicized by MMA," Minister Ameer wrote in his response.

The minister made his estimate based on available data, noting that the usable reserve held the capacity for the aforementioned five-month period.

Parliament Speaker said that the Minister of Finance cannot claim partial responsibility over matters concerned with state finance as it falls under his mandate.

He further claimed that as per the Presidential declaration of cabinet minister responsibilities for the Minister of Finance encapsulates the aforementioned responsibility as per the assigned duties on February 22, 2019.

"In accordance with Article 134 of the Maldives Constitution, the minister is accountable and must amend his response and resend it to the parliament," Nasheed said.

Earlier, Maldives President Ibrahim Mohamed Solih had declared that the country's usable reserve held the capacity of purchasing staple foods, fuel and medicine until the end of 2022.