Maldivian Democratic Party addresses corruption and dollar shortage

The Maldivian Democratic Party (MDP) parliamentary group has addressed both corruption concerns and economic instability in the Maldives. MP Abdul Ghafoor Moosa (Gapo) issued an assurance that none of the party’s 13 members will engage in or accept money linked to corruption, stating that the party will continue to speak out against such practices to prevent the country from being “lost to the people.”

Separately, MDP MPs met with the Maldives Monetary Authority (MMA) leadership to discuss the ongoing foreign exchange shortage. The delegation raised concerns regarding the criminalization of foreign currency transactions outside official rates, arguing this could drive up parallel market rates. They also addressed the impact of requirements for resorts to convert 40 percent of foreign currency revenue through local banks, suggesting tax relief to assist business operations.

The MPs urged the central bank to ensure equal access to dollars for businesses and the public, while emphasizing that the shortage cannot be resolved without controlling state expenditure, managing debt, and addressing the financing needs of state-owned enterprises.