Even if USD 500 is exchanged per head, won't be sustainable with this amount of loans: Dr. Shamheed

Member of Parliament for South Hulhumalé Constituency Dr. Ahmed Shamheed has stressed that even if the incumbent administration now says to enact a law to exchange dollars from resorts at USD 500 per tourist or 20 percent of the income received, it won't be sustainable with the current loans the government is taking.

The lawmaker said this while speaking on RaajjeTV's 'Fala Surukhee' programme.

Shamheed said that the amount of U.S. dollars required by the government to repay the current loans will increase, and in three years from now, they will ask to exchange more than the amount they are currently asking to exchange.

Shamheed said that investors investing in the Maldives will also look at whether things are happening fairly in this country, especially the state of the justice system. He also said that this is a time when the Supreme Court, which is the highest court for establishing justice in the Maldives, has been attacked, so investors will also be watching the ongoing events.

Shamheed said that the Maldivian economy is not good enough for the investments needed for the Maldives. He also said that the banks in the Maldives would not have the capacity to make such large investments.