MDP accuses MMA governor of avoiding explanations on dollar surge

Maldives Monetary Authority (MMA) Governor Ahmed Munawwar has been criticised by the MDP over his lack of communication regarding the recent appreciation of the US dollar and related economic issues.

The MDP parliamentary group sent a letter on Wednesday requesting a meeting with Governor Munawwar to discuss the impact of amendments to the Foreign Exchange Act. Delegates from the party visited the MMA on Monday but did not receive a response. They returned again on Tuesday, after which MDP MP Mauroof Zakir accused the Governor of “evading” questions.

Speaking outside the MMA offices, Zakir said the public is left without clarity on the measures being taken. “The biggest concern is that the Governor cannot meet us and tell us what is happening and when the dollar prices will improve and whether the dollar will improve or not,” he said.

Zakir noted that the dollar has exceeded MVR 20 on the parallel market and that banks and businesses remain uncertain. He called for positive action to address the situation, citing an increase in dollar support for telegraphic transfers (TT) to 30%, which he said has not yet clearly benefited those in need.

“We are seeing him running away because he doesn’t dare to answer for these things. He has to run away because there is something wrong with it. Otherwise he will have to face the people and answer for this,” Zakir added.

MDP parliamentary group leader Ibrahim Nazil confirmed that the party’s official letter had been submitted over a week ago. He indicated that if no meeting is scheduled soon, the MDP delegation will return to the MMA.

In its correspondence, the MDP raised several concerns, including: