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Progressive Congress Coalition: State Budget 2023 could lead the state to bankruptcy.

MNN

Published

2 years ago

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The opposition alliance Progressive Congress Coalition has warned that the 2022 State Budget could lead to the country going into bankruptcy.

In a statement released today, they stated the 2022 budget posed real possibilities of the nation going into bankruptcy and that the budget would cause massive debts to fall on the laps of the coming generations. The opposition coalition noted in their statement that the budget was poorly planned and that the budget holds the largest deficit in history, at MVR 9.7 billion.

They also stated that under the current administration the total State Debt would rise to MVR 100 billion, of which over MVR 50 billion debt were only from the current administration. The Progressive Congress Coalition noted that this would lead to the total debt to be equivalent to 105% of the national GDP.

They also recalled that the Government had suspended the Subsection (a), (d) and (e ) of Section 32 of the Fiscal Responsibility Act to overdraft from the central bank and print more money. They noted that while the government assured the MVR 4.4 billion printed would be paid back in 1 year, it remains to be repaid. According to the statement, this debt is further enlarged as the state now plans on printing an additional MVR 2.5 billion to cover recurrent costs.

They also stated that the MVR 4.4 billion debt would be turned into a bond with a maturity date of 50 years.  The Progressive Congress Coalition stated that this would weigh heavy on the already weakened foreign exchange rates and could lead to significant inflation.

The opposition alliance also noted that the excessive budget was planned as to allow the government to increase its number of political appointees, to further extend its sphere of influence. They also accused the ruling party of refusing to comply with the opposition MPs to summon the heads of the financial institutions in the Maldives for their opinions.

The Progressive Congress Coalition also stated that for the first time tehri parliamentarians did not give vote for the state budget in consideration of the lack of dialogue, planning and the threat of bankruptcy posed by the budget. They also noted that even Speaker of the Parliament Mohamed Nasheed and his niece Deputy Speaker Eva Abdulla did not take part in the voting process.

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Nasheed to form new party

FI

Published

12 months ago

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17/05/2023

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The main ruling Maldivian Democratic Party (MDP)’s leader Mohamed Nasheed has decided to form a new political party.

Nasheed initiated a separate political movement within MDP, ‘Fikuregge Dhirun’, following his loss in MDP’s presidential primary held back in January. After major conflicts with the government and its policies – all lawmakers from the faction tendered their resignation from MDP on Wednesday.

The move came after Central Henveiru MP Ali Azim was expelled from the party on Tuesday and banned from rejoining for at least one year over involvement in opposition political activities surrounding the Chagos archipelago dispute.

The 12 members who resigned from MDP on Wednesday are;

Parliament’s Deputy Speaker, North Galolhu MP Eva Abdulla
Ungoofaaru MP Mohamed Waheed (Wadde)
North Maafannu MP Imthiyaz Fahumy (Inthi)
West Henveiru MP Hassan Latheef
Hulhudhoo MP Ilyas Labeeb
North Kulhudhuffushi MP Yasir Abdul Latheef
Vilufushi MP Hassan Afeef
Central Maafannu MP Ibrahim Rasheed (Bonde)
Madaveli MP Hussain Firushan
Thoddoo MP Hassan Shiyan (Gita)
North Mahchangoalhi MP Mohamed Rasheed (Boadhigu)
Gadhdhoo MP Ahmed Zahir
All 12 members are close acquittances of Nasheed. MP Hassan Latheef, during a meeting at Bodufenvalhuge on Wednesday, announced Nasheed’s decision to form a new political party. The meeting was attended by supporters of Nasheed.

Should Nasheed form a new political party, that party would be the largest opposition party in terms of members in the parliament, thereby, the minority party. The minority party at present, opposition PPM-PNC coalition has only eight members in the parliament.

Despite the resignation of the 12 MPs, President Ibrahim Mohamed Solih continues to hold full control of the Parliament with 56 MPs.

Source(s): sun.mv

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MPs loyal to Nasheed leave MDP

FI

Published

12 months ago

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17/05/2023

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Multiple members of the main ruling Maldivian Democratic Party (MDP) loyal to the party’s leader Mohamed Nasheed have left the party.

The members who resigned from MDP include 12 MPs. They include Deputy Speaker Eva Abdulla, MP Mohamed Waheed, MP Imthiyaz Fahmy (Inthi), MP Hassan Latheef, MP Ilyas Labeeb, MP Yasir Abdul Latheef, MP Hassan Afeef, MP Ibrahim Rasheed (Bonde), MP Hussain Firushan, MP Hassan Shiyan, MP Mohamed Rasheed (Boadhigu), and MP Ahmed Zahir.

They submitted their resignation letters Wednesday.

The move comes after MDP’s parliamentary group had requested action against Inthi, Hassan Latheef, Ilyas, Yasir, and Central Henveiru MP Ali Azim earlier this week, for forming an alliance with the opposition Progressive Party of Maldives (PPM), Jumhoory Party (JP) and Maldives National Party (MNP), after accusing the government of failure to protect the interests of the Maldivian people in the case lodged with the International Tribunal of the Law of the Seas (ITLOS) over the disputed maritime territory between Maldives and Mauritius.

The party’s disciplinary committee decided to expel Azim from the party on Tuesday.

They are all members of Nasheed’s ‘Fikuregge Dhirun’ faction.

However, Nasheed has yet to resign from the party.

Despite the resignation of the 12 MPs, President Ibrahim Mohamed Solih continues to hold full control of the Parliament with 56 MPs.

Source(s): sun.mv

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The Cambodian Prime Minister arrives in the Maldives on an official visit

FI

Published

1 year ago

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15/01/2023

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The Prime Minister of the Kingdom of Cambodia, Samdech Akka Moha Sena Padei Techo Hun Sen, arrived Sunday morning on an official visit to the Maldives at the invitation of H.E. President Ibrahim Mohamed Solih. It is Samdech Techo Prime Minister Hun Sen’s first visit to the Maldives.

The Cambodian Prime Minister and accompanying delegation were received at Velana International Airport (VIA) by the Minister of Foreign Affairs, Abdulla Shahid (ODRI). The government will hold a ceremony on Monday to officially welcome the Cambodian Prime Minister to the Maldives.

During the visit, President Solih would meet with Samdech Techo Prime Minister Hun Sen and hold official talks on strengthening bilateral cooperation, followed by the exchange of memoranda of understanding (MoUs) between the two countries. President Solih and the Cambodian Prime Minister would also deliver a joint statement on the outcomes of their discussions.

The Maldives and Cambodia established diplomatic relations on September 21, 1995.

Source(s): President Office.

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