Questions arise as to whether this administration can survive until 2028, as the public is now on the verge of losing control and taking to the streets: Nasheed
30 ޖުލައި 2026 | ބުރާސްފަތި 08:08Former President Mohamed Nasheed has warned that the Maldives' fragile economic state and the looming threat of sovereign bankruptcy could trigger public protests over the rising cost of living. Nasheed asserted that the Maldives Monetary Authority and local banks are facing a severe dollar shortage, alleging that the government is withholding financial data to conceal the depletion of national reserves. Despite these challenges, he expressed confidence that the Maldivian Democratic Party (MDP) would secure victory in the 2028 presidential election.
Former President and MDP Chairperson Mohamed Nasheed addresses the party’s gathering held at the MDP campaign site on Wednesday night. | RaajjeMV
Former President and MDP Chairperson Mohamed Nasheed has raised questions over whether President Dr. Mohamed Muizzu’s administration can survive until 2028, stating that the country is heading toward a point where the public will lose patience and take to the streets.
Speaking at an MDP rally held Wednesday night, Nasheed stated that it is now a reality accepted by all Maldivians that the party will secure victory in the upcoming 2028 presidential election. He further noted that during meetings with foreign ambassadors, he is already being questioned regarding the party's policies and governance plans once the MDP returns to power.
Noting the growing skepticism over whether the current administration can survive until 2028, Nasheed stated that its longevity is indeed in doubt. He warned that a moment will come when the public loses patience and takes to the streets, adding that the Maldives is currently heading toward such a turning point.
He stated that citizens would take to the streets once the cost of goods skyrockets and access to essential services such as fuel, water, and electricity is lost, reaching a point where they can no longer make ends meet.
Referring to the projects the government claims to be undertaking, Nasheed stated that the administration is unaware of its own initiatives and that no actual progress is being made on any project. He further noted that when senior government officials take to the podium to claim that 500 or 600 projects are underway, it will inevitably lead the public to question the validity of those statements.
Furthermore, Nasheed stated that the Maldives' economic situation is dire and that the country currently stands at a critical juncture. He added that the nation is on the brink of a sovereign default.
We do not wish for the Maldivian state to default. If the state defaults, we all default along with it.Mohamed Nasheed.
Highlighting that the Maldives Monetary Authority’s usable reserves have been depleted of dollars, Nasheed stated that the Bank of Maldives is also facing a complete shortage of foreign currency.
Regarding the disclosure of economic data, Nasheed stated that the government has ceased publishing weekly updates because the national reserves have been depleted. He further emphasized that it is a collective responsibility to steer the Maldives toward a secure economic future.
Furthermore, Nasheed stated that the MDP remains steadfast with the people and will continue its efforts without backing down.
