Finance minister acknowledges ongoing debt burden for future governments
Zameer confirmed that the next government will inherit debt obligations as the Maldivian financial system is not structured to operate without debt
Minister of Finance and Planning Moosa Zameer
Minister of Finance and Planning Moosa Zameer of President Dr. Mohamed Muizzu's administration has confirmed that the next government will also inherit debt obligations.
During a parliamentary committee reviewing the proposed budget for the coming year, the main opposition Maldivian Democratic Party’s (MDP) Parliamentary Group Leader and MP for South Hithadhoo constituency Ibrahim Nazil highlighted that every government inherits loans that need to be repaid upon taking office. He cited the example of the previous MDP government, which repaid loans taken by its predecessor.
In response, Zameer confirmed that debt will remain and explained that the next government will likewise face financial obligations. He emphasized that the Maldivian financial system is not structured to allow the country to operate without debt.
Nazil further expressed concern over the lack of detailed information in the budget document, noting that the issue is not limited to opposition lawmakers. He highlighted that even the Auditor General had raised similar concerns during a parliamentary committee meeting earlier this week.
Addressing these concerns, Zameer explained that neither this year’s budget nor the proposed budget for the coming year includes specific project details. He justified the approach by stating that project implementation must reflect public needs, which cannot be fully assessed through the budget document alone.
Zameer argued that people based in the Greater Malé Region cannot fully understand the challenges faced by health centers on other islands, and proper evaluation requires direct visits to the islands. He added that the project implementation mechanism in the Maldives differs from other countries due to the country’s unique geography, which is why such detailed information is not included in the budget.
In response, Nazil questioned whether the current practice of simply listing budget figures each year is adequate. He also asked whether the system should be changed so that detailed project information is included only after the current year ends.
