President Muizzu Accuses Previous Administration of Driving Maldives into Debt Trap and Bankruptcy

President Dr. Mohamed Muizzu has stated that just as the Maldives was liberated from the subjugation of foreign arms, the nation must now be rescued from the shackles of debt to establish true economic independence.

President Muizzu made these remarks while addressing the official ceremony held to mark Victory Day.

In his address at the official ceremony held at Republic Square, he highlighted that every martyr in Maldivian history chose the Maldivian nation above all else. He noted that their priority was the independence, stability, and security of the country, as well as its future development and progress.

Reflecting on the cautionary lessons of Maldivian history, he noted that behind the Portuguese and Malabari invasions, the arson incident, and the terrorist attack of November 3, there were Maldivians driven by a thirst for power.

Reminding that the consequence of betraying one's nation is always misery, he stated that the result of remaining loyal to the country is always prosperity.

Reflecting on the 38 years since the brutal terrorist attack of November 3rd, the President noted that two new generations have emerged who did not witness the event. He reminded the nation that there are significant duties and responsibilities owed to these younger generations. He further emphasized that the foundation of these responsibilities is rooted in ensuring the nation's independence, economic self-sufficiency, and the continued preservation of state sovereignty and integrity.

He stated that establishing economic independence is the fundamental cornerstone for ensuring a prosperous, stable, and happy life for the citizens. He further reminded that a nation can only assert its own voice and protect its religion and traditions by breathing life into an economy that does not rely on begging from others.

He highlighted the government's ongoing efforts to rescue the Maldives from the threat of bankruptcy, which include ending the irresponsible practice of printing money and fulfilling the state's debt obligations. He stated that a nation's true sovereignty can only be guaranteed by building a self-sufficient economy that is free from the need to rely on foreign aid.

In his address, the President confirmed that foreign military personnel have been successfully repatriated and that international efforts to reclaim the lost maritime territory are now underway. He further highlighted that initiatives to enhance the military capabilities of the Maldives National Defence Force are progressing at a rapid pace.

President Muizzu has assured the public of his commitment to building a sophisticated Maldives by prioritizing both the spiritual and material development of its people. He emphasized the necessity of implementing revolutionary changes that will positively impact the nation's entire financial system while ensuring that the "red lines" of national identity, independence, and sovereignty remain uncompromised. Furthermore, he pledged to establish the state's fiscal self-sufficiency to drive internal national development.

Highlighting that over a thousand young people have already graduated and entered the workforce under the national service initiative aimed at building a generation of patriotic youth, His Excellency reminded all citizens of their collective responsibility to ensure a happy and secure Maldives is inherited by future generations.

Concluding his speech, President Muizzu affirmed that every step he takes and every decision he makes will be dedicated to revitalizing the pillars of Maldivian nationalism and safeguarding the nation's hundred percent Islamic identity and sovereignty. Furthermore, he called upon the entire nation to prioritize sincere patriotism and collective well-being over political rhetoric and personal disputes. He urged the public to aim for a prosperous and joyful future, liberated from the shackles of debt.