MP Mauroof calls for MMA governor’s removal over flawed monetary policy

In light of the country's current economic challenges, MP for Kendhoo constituency Mauroof Zakir has called for a vote of no confidence against Maldives Monetary Authority (MMA) Governor Ahmed Munawar, urging his removal from office.

He made these remarks while speaking at Monday’s sitting of the People’s Majlis.

Stressing that the financial policies in place are not appropriate, the lawmaker noted that the direction of the entire country's economy is backwards and there is no is no way to hold it back.

The lawmaker expressed concern over the worsening economic situation and criticized the MMA Governor for remaining silent, emphasizing that the Maldivian economy has effectively come to a standstill.

He went on to note that small and medium-sized businesses are struggling to operate, while the dollar exchange rate has surged sharply.

Mauroof questioned which businesses could realistically foster positive growth under these conditions, noting that both medium and small enterprises are facing significant discouragement. He emphasized that the economy must not be allowed to deteriorate to this extent.

The lawmaker also highlighted the limited opportunities available to small businesses. He criticized the delayed payments for items purchased by President Dr. Mohamed Muizzu at the Maldivian Productivity Exhibition, questioning how the economy can improve if such practices continue. In addition to this, he raised concerns about how positive initiatives and productions will find opportunities under these circumstances.