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President: IMF has recognized govt’s economic policy, will get investors

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President Dr. Mohamed Muizzu has described the report recently published by the International Monetary Fund (IMF) regarding the Maldives as the agency’s recognition of the government’s economic policy.

IMF has welcomed Muizzu administration’s fiscal reform agenda, and its commitment to urgently implement it.

It is the last day of President Muizzu’s three-day tour of Thaa Atoll. His first stop of the day is Omadhoo.

Speaking to the residents of the island, the president praised IMF’s report on the Maldives.

He described the report as IMF’s recognition of the administration’s economic policy.

On this note, the President Muizzu said IMF has accepted the decisions his administration has “independently” made in accordance with its “own” policies to increase state revenue while also making ends meet and enhancing the nation’s economy. He highlighted some of the policies in this trajectory; subsidy reforms in a uniform manner and reprioritization and rationalization of projects under the public sector investment program (PSIP).

He added that the acceptance of the Maldives’ policy is a positive message that would increase trust among investors and ease the process of securing investors for projects.

Speaking further, President Muizzu affirmed his administration’s support for Omadhoo’s developmental needs, as conveyed by the council. In this regard, he affirmed that the government will resolve the issues of space constraints and facility limitations at Omadhoo School, by allocating the issue as the highest priority.

He also pledged to place more emphasis on projects aimed at improving the people’s livelihoods, including water and sanitation projects and projects aimed at the economic prosperity of the people.

However, he reiterated his remarks on the necessity of reviewing the developmental projects and submitting the reviewed list in order of significance to the island’s development in line with the policy reprioritization and rationalization of projects.

Source(s): sun.mv

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Escalation in Gaza amid diplomatic efforts for peace

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Israel launched intense bombardments on Gaza’s southern city of Rafah on Friday, following the collapse of truce talks between Israel and Hamas in Cairo on Thursday, further worsening the desperate situation.

Around 110,000 people have fled Rafah as Israeli bombardment intensifies, according to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). Ten out of its 34 medical points in Rafah were forced to close and its three operational health centers in the area are running at reduced capacity, UNRWA said.

Approximately 1.4 million people, more than half of Gaza’s population, are sheltering in Rafah amid ongoing hostilities between Israel and Hamas, according to the UN. Most residents are in makeshift shelters or tents, lacking access to clean drinking water, adequate food and medical supplies. This crisis is compounded as heavy fighting on the outskirts of Rafah between Israeli forces and Palestinian militants has rendered aid crossings inaccessible.

On Friday, Hamas announced plans to consult with leaders from other Palestinian factions to reassess its ceasefire negotiation strategy amid the ongoing conflict. The group’s statement highlighted that Israel’s rejection of the ceasefire proposal has thwarted all efforts to establish peace. It also accused Israel of avoiding a ceasefire by continuing military operations in Rafah and seizing control of the Palestinian side of Rafah’s border crossing, even after accepting the mediators’ proposal.

Situation in Rafah on ‘knife’s edge’

An Israeli ground attack in Gaza’s Rafah could result in an “epic humanitarian disaster,” UN Secretary-General Antonio Guterres cautioned on Friday, following the failure of truce negotiations in Cairo to reach an agreement.

“A massive ground attack in Rafah would lead to an epic humanitarian disaster and pull the plug on our efforts to support people as famine looms,” Guterres said at a news conference in the Kenyan capital of Nairobi. He described the situation in the southern Gazan city as “on a knife’s edge.”

He also stated that the UN is working with all parties to resume delivering life-saving aid, including urgently needed fuel, through the Rafah and Kerem Shalom crossings.

UN addresses Palestine’s bid for membership

On Friday, the UN General Assembly (UNGA) adopted a resolution supporting the Palestinian bid for full UN membership by recognizing its qualifications and recommending that the Security Council “reconsider the matter favorably.” The resolution was adopted with 143 votes in favor and nine against, including the United States and Israel, with 25 countries abstaining.

Proposed by the United Arab Emirates (UAE) on behalf of 22 Arab countries and co-sponsored by about 65 states, the resolution affirms that “the State of Palestine is qualified for membership in the United Nations in accordance with Article 4 of the Charter and should therefore be admitted.”

UAE’s permanent representative to the UN, Mohamed Abushahab, emphasized, “The vast majority of countries in the General Assembly are fully aware of the legitimacy of the Palestinian bid and the justness of their cause, which faces fierce attempts to suppress it and render it meaningless today.”

Saudi Arabia’s permanent representative to the United Nations, Abdulaziz Alwasil, said that “The resolution presented today is fully in line with those resolutions. It seeks to implement the will of the international community and contribute to building true peace in the Middle East based on the two-state solution.”

Also, Iran’s ambassador and permanent representative to the UN, Amir Saeid Iravani, expressed his country’s support and approval for the resolution through the official news agency IRNA.

In contrast, after the vote, Israel’s permanent representative to the United Nations, Gilad Erdan, accused the assembly of trampling on the UN Charter.

An application for full UN membership requires approval from the 15-member Security Council before proceeding to the General Assembly. Al Jazeera reported that the 193-member UNGA’s vote functioned as a global survey of support for the Palestinian bid for full membership, which would recognize a Palestinian state. This follows a U.S. veto in the Security Council last month.

Meanwhile, the Biden administration on Friday expressed concerns over Israel’s use of U.S.-supplied weapons during its military operation in Gaza, suggesting potential violations of international humanitarian law. However, the administration refrained from providing a definitive assessment, citing the chaotic conditions in Gaza as a challenge to verifying specific violations.

This conclusion was part of a State Department report to Congress, mandated by a new National Security Memorandum that President Joe Biden issued in early February.

Source(s): CGTN

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President hails historic UN resolution for Palestine’s full membership

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President Dr. Mohamed Muizzu has stated United Nations General Assembly’s decision to grant Palestine full membership in the United Nations is a historic achievement in the fight for justice for the country. He made the remarks on a social media post following the adoption of the resolution for Palestine’s full membership.

President Dr. Muizzu commended this significant development, emphasising the enduring resilience and bravery of the Palestinian people. The Maldives reaffirmed its steadfast commitment to supporting the aspirations of Palestine for sovereignty and independence, echoing the sentiment shared by many nations.

In his statement, President Muizzu reiterated Maldives’ unwavering advocacy for an independent Palestinian state with East Jerusalem as its capital, in accordance with the pre-1967 borders.

The resolution, co-sponsored by Maldives, secured an overwhelming majority with 143 votes in favor. Notably, Maldives denounced the misuse of veto power in the UN Security Council, further amplifying the global call for justice for Palestine amidst ongoing challenges.

As Palestine advances towards full membership in the UN, supported by nations like the Maldives, the international community stands united in championing the rights and aspirations of the Palestinian people on the world stage.

Source(s): PsmNews

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Reclaiming 16 islands from Gaafaru lagoon

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Maldives Fund Management Corporation (MFMC) on Wednesday, has formally signed the agreement with Atoll Works Private Limited for the dredging, reclamation and shore protection of 16 islands within K. Gaafaru lagoon.

According to MFMC, 14 islands out of the total will be designated for individual private island development for real estate purposes, while the remaining two will be earmarked for luxury tourist resort development.

The project encompasses reclamation of an additional 40 hectares of land on Gaafaru island, bringing the total reclamation area to 106.91 hectares.

This project also represents the first instance of simultaneous reclamation of multiple islands within the same lagoon in Kaafu atoll.

The total value of the project for dredging, reclamation and shore protection amounts to USD 36.5 million. This total includes USD 29.2 million specifically designated for the dredging 3,747,792 cubic meters of sand at the rate of USD 7.80 per cubic meter. This rate is also one of the most competitive rates observed for a reclamation project in the Maldives in recent years.

The project will proceed under a contractor financing model, facilitating swift resource mobilization and initiation of the reclamation works. Since MFMC is not required to provide any upfront payment to the contractor, the physical works of the project are expected start soon.

Repayment of the contracted amount will initiate upon the completion of island reclamation and the generation of revenue through the sale of these islands on a long-term lease basis to private buyers.

The Maldives government, via presidential decree, entrusted K. Gaafaru lagoon to MFMC for the implementation of an integrated tourism development initiative. The corporation has also finalized conceptual masterplan for the lagoon, with the reclamation works serving as the initial phase in accordance with the outlined plan.

Source(s): sun.mv

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