Economic Minister refutes IMF bailout rumors
He went on to insist that Maldives did not need an IMF package as the economic growth was better than expected.
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Summary
He went on to insist that Maldives did not need an IMF package as the economic growth was better than expected.
Economic Minister Mohamed Saeed on Thursday refuted increasing rumors that the government had agreed to an International Monetary Fund (IMF) bailout package to alleviate the dire economic situation in the island nation.
Social media have been rife with rumors that the government had agreed to accept to an IMF package and an official announcement was imminent.
Saeed however, took to X late Thursday to refute the rumors to insist that Maldives did not need an IMF package and went as far as to label the rumors as politically motivated.
"This is a blatant attempt to undermine the confidence in the financial system of the country when the economic situation did not worsen as some were expecting," Saeed said.
He went on to insist that Maldives did not need an IMF package as the economic growth was better than expected.
Apart from the minister, the government is yet to officially comment on the rumors.
Rumors of an imminent IMF bailout package comes days after the IMF praised the homegrown fiscal reform agenda.
