Increasing reliance on irregular Saudi aid is concerning: Ex-Pres Nasheed
Last year alone govt. took out MVR 4.79 billion in loans
President Nasheed
Former President Mohamed Nasheed has expressed concerns over allegations of irregular funding of the current regime by the Saudi Government, calling it a concern for many citizens.
In a tweet posted today, the former President said the allegations were concerning, adding that this was a deeply concerning issue.
Nasheed had also previously expressed concern over President Yameen’s financial and economic policies, noting that most of these policies were based on loans from foreign sources.
China and Saudi Arabia are the biggest donors and lenders to the economy, with the Government last year borrowing MVR 4.79 billion from financial institutions. Majority of these institutions were Saudi or China based.
The President in his annual Address had also signaled that the nation will borrow more this year as well.
