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Dollar rates down, MDP did not sort this: Nasheed

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Former President Mohamed Nasheed on Tuesday, March 05, 2024, said positive effects of halting overdraft is now visible with lower US Dollar exchange rates.

The former MDP leader said the current opposition party deliberately did not resolve the hiking dollar exchange rates during its government.

Nasheed made the statement via his unofficial X handle on Tuesday.

On his post, Nasheed said the black market exchange rates have begun dropping, while inflation rate is expected to slow down subsequently reducing prices on consumer items. He added these positive changes are the direct result of government’s decision to stop overdraft or money printing.

Although the Maldives Monetary Authority (MMA) fixed the exchange rate for US dollar at MVR 15.42, exchanging dollars at this rate is now impossible.

The current black market exchange rate for US dollar is between MVR 17 and MVR 17.40.

Maldives is currently facing turbulent economic times, which the current government said was actively working on mitigating, with the decision to stop printing money being among the key steps taken to reduce further risks.

The previous government suspended the act that enforced state accountability on expenditure to print money during Covid-19 pandemic, which was one of the key steps taken to mitigate the economic risks. The previous state received go-ahead to print money up to MVR 4.4 billion during the said period.

Source(s): sun.mv

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Minister of Islamic Affairs to attend the OIC Summit as the President’s Special Envoy

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The Minister of Islamic Affairs, Dr Mohamed Shaheem Ali Saeed, will attend the 15th session of the Islamic Summit of the Organisation of Islamic Cooperation (OIC), which begins tomorrow, as President Dr Mohamed Muizzu’s Special Envoy.

The Minister of Islamic Affairs is scheduled to address the 15th session of the Islamic Summit of the Organisation of Islamic Cooperation (OIC) as the President’s Special Envoy, which begins tomorrow, at Banjul, The Gambia. His address will be broadcast on television.

The Islamic Summit of the OIC, held once every three years, brings the leaders of the Islamic nations together to deliberate, take policy decisions, and provide guidance on issues pertaining to the Ummah as outlined in the OIC Charter.

The 15th Session of the Islamic Summit of the Organisation of Islamic Cooperation (OIC) will take place in Banjul, The Gambia, from May 4–5, 2024, under the theme “Enhancing Unity and Solidarity through Dialogue for Sustainable Development.”

Source(s): Presidents Office

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Vice President pledges govt’ support for journalists welfare

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Vice President Hussain Mohamed Latheef has emphasised President Dr. Mohamed Muizzu’s administration’s steadfast commitment to supporting journalists, addressing their needs and aspirations.

In an interview with PSM news on its 7th anniversary and in commemoration of World Press Freedom Day, Vice President Hussain Mohamed highlighted the administration’s awareness of the challenges faced by journalists, noting President Muizzu’s proactive engagement with them upon assuming office.

Furthermore, Vice President stressed the importance of public trust in the current administration’s ability to effectively address journalists’ concerns, particularly on World Press Freedom Day. He further reiterated that while journalism may not be explicitly delineated in the constitution, it serves as the country’s “fourth power” and urged responsible reporting avoiding misleading information, anticipating positive societal changes with these efforts.

In support of journalist’s financial independence, Vice President confirmed the formulation of a policy allocating a specific percentage of the state budget to them and the resolution of land plots for establishing a special media village.

Additionally, Vice President met with PSM news employees.

Source(s): PsmNews

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Maldives slips six ranks in World Press Freedom Index

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World Press Freedom Index is an annual ranking of 180 nations – compiled by Reporters Without Borders (RSF) – based on the level of freedom enjoyed by journalists and media personnel in those nations.

Maldives, which ranked 100 in the WPFD last year with a score of 56.93, has dropped down 106th, scoring 52.36. This marks a slip from the classification of nations where its ‘Problematic’ to practice journalism to nations where its ‘Difficult’ to practice journalism.

RSF has attributed the ratification of the Evidence Bill into law including the provision which allows courts to compel journalists to disclose their sources in some circumstances as the main reason for the drop in the rank.

RSF utilizes five indicators in compiling the WPFI. Maldives have been scored as follows in the respective fields:

  • Political indicator: 109th place with 43.48. This accounts to a drop of 12 ranks as Maldives placed 97th with 53.75 last year.
  • Economic indicator: 133rd place with 36.04. This accounts to an increase of 28 ranks as Maldives placed 161st last year with 32.84. It is the only indicator in which Maldives improved its score.
  • Legislative indicator: 111th place with 54.42. This accounts to a drop of 13 ranks as Maldives placed 98th last year with 59.01.
  • Social indicator: 131st with place with 48,10. This accounts to a drop of 7 ranks as Maldives placed 124th last year with 55.68.
  • Security indicator: 80th place with 79.79. This accounts to a drop of 23 ranks as Maldives placed 57th last year with 82.48.

Notably, Maldives placed 87th in the WPFD in 2022; classified as a nation where it is “Satisfactory” to practice journalism.

Source(s): sun.mv

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