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WorldPosted at: Apr 12 2025 4:45PM


Maldives Presidential Palace denies allegations of lavish spending by President Muizzu

Malé, Apr 12 (UNI) With the Maldives going through an economic crisis, officials at the Maldivian Presidential Palace were quick to deny allegations of extravagant spending by President Mohammad Muizu and the First Family, calling them “baseless”.
The officials claimed that in Muizzu's tenure, expenses have actually decreased.
The claims of extravagant spending were made by opposition-aligned Channel 13, which accused the First Family of indulging in excessive spending during a weekend visit to the Presidential Retreat in Aarah.
Minister at the Presidential Palace (Muliaage), Iqbal Adam, dismissed the accusations as “completely baseless”, stating that the administration has taken a firm stance on cost-cutting, particularly in light of the country’s current economic situation, psmnews reported.
Minister Iqbal said: “Spreading false claims at a time when we are actively working to reduce costs will only sow confusion and discord among the public.”
He condemned the allegations as deliberate attempts to tarnish the President’s reputation.
According to reports, the Maldives has witnessed further deterioration in economic conditions under President Muizzu, marked by high inflation, increasing imports, and a reduction in fish exports and tourism revenues.
The government has reportedly appointed over 300 ministers and 2,000 political appointments, leading to a recurring expenditure of over US$65 million every month.
As of March last year, the Maldives had a high debt-to-GDP ratio of 110 percent, accounting for an overall debt of US$ 8.2 billion. Over $4.8 billion of the loans are domestic, and $3.4 billion external.
As part of steps to rescue the country’s ailing economy, the Maldives President in October last year announced that he will take a 50% cut in his salary, while ordering other top public officials to take a 10% cut.
The cuts will be in effect for a two-year period, the President’s office said.
The measures are in line with the economic reform agenda proposed as part of the 2025 national budget.
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Maldives Presidential Palace denies allegations of lavish spending by President Muizzu

12 Apr 2025 | 4:45 PM

Malé, Apr 12 (UNI) With the Maldives going through an economic crisis, officials at the Maldivian Presidential Palace were quick to deny allegations of extravagant spending by President Mohammad Muizu and the First Family, calling them “baseless”.

see more..