Administration Settles MVR 871 Million in Loan Repayments, Says Heena Waleed

The Progressive Party of Maldives (PPM) and the People’s National Congress (PNC) campaign spokesperson Heena Waleed has highlighted the current administration’s efforts in managing loan repayments, stating that MVR 871 million has been settled within the last three months.

According to Heena, the present government inherited a debt of MVR 318 million in loan repayments from the previous administration, with the outstanding amount posing a significant challenge when President Dr. Mohamed Muizzu took office.

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Moreover, Heena noted that the current government has allocated MVR 1.1 billion towards the Public Sector Investment Program (PSIP). Contrasting this with figures from the previous administration, she remarked that during the first three months of 2019 under former President Ibrahim Mohamed Solih’s leadership, PSIP spending stood at just MVR 494 million.

Critiquing the approach of the previous government, Heena stated that many projects were initiated without adequate foresight and planning, resulting in numerous interruptions. She emphasized President Muizzu’s current efforts to rectify the situation and ensure the continuation of stalled projects.