Finance minister Zameer resigns
Zameer has served as Finance Minister during a period marked by efforts to manage the country's external debt obligations and fiscal challenges.
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Minister of Finance Moosa Zameer has resigned from his post.
Sources confirmed that Zameer submitted his resignation letter to President Dr Mohamed Muizzu on Monday.
According to information available, Zameer cited health reasons for his decision to step down. He underwent a surgical procedure in December last year.
Zameer has served as Finance Minister during a period marked by efforts to manage the country's external debt obligations and fiscal challenges.
One of the key developments during his tenure was the repayment of the Maldives' USD 500 million sovereign Sukuk, which matured in April this year. Including interest payments, the total amount settled was approximately USD 525 million.
The Sukuk repayment represented one of the largest external debt obligations due during the current administration.
Last week, Fitch Ratings upgraded the Maldives' sovereign credit rating from 'CC' to 'CCC-'. In its assessment, Fitch cited the successful repayment of the sovereign Sukuk as a factor behind the decision, noting that it had reduced immediate default risks and eased short-term external financing pressures.
The government has not yet announced a replacement for Zameer.
Further details regarding the transition at the Ministry of Finance are expected in the coming days.
