President Muizzu and MMA hold starkly contrasting views regarding salaries of resort employees
1 ސެޕްޓެމްބަރު 2026 | އަންގާރަ 10:11Questions have been raised regarding the current administration's fiscal policies following conflicting statements between the MMA Governor and President Muizzu over the discontinuation of dollar-denominated salaries for resort employees. While the Governor suggested that salaries must be paid in Rufiyaa to alleviate the ongoing dollar shortage, the President has assured workers that he will not make any decision that would result in the loss of their dollar earnings.
President Muizzu and the central bank hold vastly different stances regarding the salaries of resort employees. | raajje tv
A stark contradiction has emerged between the government and the central bank, Maldives Monetary Authority (MMA), regarding the availability of funds to pay the salaries of employees in the resort and tourism sectors.
Statements made by the highest levels of government and the Governor of the central bank regarding this issue have now exposed the significant lack of consensus in shaping the Maldives' fiscal and monetary policies.
The Governor of the Maldives Monetary Authority (MMA), Ahmed Munawar, was the first to speak on the matter. During a press conference held at the President's Office, the Governor stated that in order to stabilize the country's foreign exchange market, changes must be made to the current practice of paying salaries in dollars at Trans Maldivian Airways (TMA) and various resorts.
The Governor's remarks suggest that the central bank is considering a policy shift to address the foreign exchange shortage by ending the practice of paying employee salaries in US dollars and transitioning those payments to Maldivian Rufiyaa.
However, just a week after the Governor's remarks, President Dr. Mohamed Muizzu spoke on the matter in an entirely different tone.
Speaking at a press conference held at the President's Office, President Muizzu assured that the government will not make any decisions that would negatively impact employees who receive their salaries in US dollars. The President further emphasized that there is no reason to implement such changes and stated that no entity should reach such a decision.
While the Maldives Monetary Authority (MMA) holds a significant legal mandate in determining the nation's foreign exchange policies, the growing friction between the government and the central bank on such a critical issue has sparked concern among financial experts. Many observers characterize this discord as a clear indication of inconsistencies within the government's fiscal and monetary policies.
The government’s shift in rhetoric comes at a time of mounting public pressure and concern from tourism sector employees. This backlash follows widespread rumors that the administration intended to halt the practice of paying resort workers' salaries in US dollars.
