Muizzu: $1,000 allowance for travelers was pledged without foreseeing Middle East conflict
President Muizzu stated that the ongoing conflict in the Middle East has hindered the fulfillment of his pledge to increase the dollar allowance for Maldivians traveling abroad to $1,000. Speaking at a press conference at the President's Office, he noted that when he initially projected the implementation of this change for the first quarter of 2026, the outbreak of war could not have been anticipated. However, the President highlighted that the Maldives Monetary Authority is currently evaluating the earliest possible date to facilitate this adjustment.
President Dr. Mohamed Muizzu speaks during a press conference held on Monday. | President's Office
President Dr. Mohamed Muizzu has stated that when he pledged to provide $1,000 to locals traveling abroad, he could not have foreseen the outbreak of conflict in the Middle East.
During a press conference held at the President's Office on Monday, a RaajjeTV journalist highlighted President Muizzu’s previous pledge to increase the $500 allowance for Maldivians departing from Velana International Airport (VIA) to $1,000 by the first quarter of 2026. The journalist questioned why this commitment remained unfulfilled, noting that despite the President’s clear and confident assurances, the first quarter of 2026 has concluded without the promise being realized.
In response to this question, President Muizzu stated that when he delivered the 2025 Presidential Address, he could not have foreseen that a war would break out in the Middle East on February 28, 2026.
When the 2025 Presidential Address was delivered, it was impossible to foresee that a conflict would erupt in the Middle East by February 28, 2026. That is simply the reality of the situation. Following the outbreak of the war, the Maldives Monetary Authority has been analyzing the figures to determine how quickly they can adjust their projections and respond to the developments.President Dr. Mohamed Muizzu
Delivering the 2025 Presidential Address to the People’s Majlis, President Muizzu announced that the $500 allowance currently available to every Maldivian traveling abroad from Velana International Airport (VIA) will be doubled to $1,000 by the first quarter of 2026. Furthermore, the President stated that credit card limits will be increased to $1,400 during the second quarter of 2026.
The $500 allowance currently available to every Maldivian departing from Velana International Airport (VIA) will be doubled to $1,000 in the first quarter of 2026. Furthermore, credit card limits are set to be increased to $1,400 by the second quarter of 2026. These measures are designed to directly benefit Maldivian citizens and enhance their financial well-being as the relevant regulations are implemented. It is essential to emphasize that the full cooperation of resorts, guesthouses, city hotels, and all businesses mandated by law to exchange foreign currency is vital for the successful enforcement of these regulations.President Dr. Mohamed Muizzu
Financial experts have noted that state dollar reserves have increased following the implementation of the Muizzu administration’s foreign exchange regulations, which mandate the conversion of $500 per tourist. However, despite this increase in state holdings, dollars are not circulating within the market, making it significantly difficult for the general public to access foreign currency. Furthermore, while President Muizzu pledged to eliminate the dollar black market, it has instead expanded, with the exchange rate climbing to 20 Rufiyaa per dollar.
