President Abdullah Yameen have said that increase in dollar rates is not something acceptable to this government.
Speaking to the people of Nellaidhoo after officially opening the harbor of that island, President said that if the dollar rates increase at a fast pace, investors will lose confidence in Maldives.
He said that it will create problems for both investors and citizens of Maldives. “That is why the projects we want to implement for the people are being done through the central bank after establishing special mechanisms” said the President.
President said that when he assumed office, there was a huge debt and that this government is now repaying it gradually. “about 10 percent of the National Budget is spent on Loan repayments and its interest. It’s a huge sum.”
He said that huge projects in Maldives can be run only by seeking foreign investors and by giving them confidence. He said that sometimes foreign investors have to be brought for large projects because Maldivians lack capability.
President Yameen noted that while we have the largest sea plane fleet in the world, it is also a foreign investment.
Increase in dollar rates is not something acceptable to this government : President Yameen
