Board meeting set for Monday to decide on MVR 2.5bn gov’t funding via pension fund and printed money
The meeting was scheduled for 2pm, Monday
Pension fund board members
A meeting of the Pension Board is scheduled for Monday to decide on providing MVR 2.5 billion to the government through the Pension Fund, by printing money via the Maldives Monetary Authority (MMA).
According to reliable sources, the meeting was scheduled for 2pm. The Pension Office Board comprises eight members: three representing the public sector, four from the private sector, and a chairperson.
The current board members are:
- Dr. Ahmed Inaz, Chairperson
- Shifaza Wajeeh (Public Sector)
- Mizna Ahmed (Private Sector)
- Mohamed Maadhin Latheef (Private Sector)
- Fathimath Abdulla Kamaluddin (Public Sector)
- Abdul Majeed Ali (Private Sector)
- Ashraf Rasheed (Public Sector)
- Ahmed Saruvash Adam (Private Sector)
This move, if approved, would mark a significant departure from a key campaign promise made by President Dr. Mohamed Muizzu, who repeatedly assured the public that his administration would not resort to printing money. Despite these assurances, the government is now seeking to tap into the Pension Fund through money printing, raising questions about its fiscal strategy and the credibility of its commitments.
