Maldives Weekly: 05-11 June 2022
11 June 2022, the Government of Maldives constituted the “Raajje Transport Link” as part of its first phase of the “Integrated National Public Ferry Network” initiated to connect the Maldives through a high-speed ferry network. Services of this link will first commence in Zone 1 of the country, which consists of Haa Alif, Haa Dhaalu, and Shaviyani atolls located in the north of Maldives.
09 June 2022, The Maldives Tourism Development Corporation (MTDC) endorsed a dividend of 60 Laari per share. 18,000 shareholders of the corporation were represented at the company’s annual general meeting. According to the decisions finalized during this meeting, MTDC will pay a dividend of 60 Laari per share, spending a total of MVR 28 million on the prospect.
07 June 2022, Deputy Speaker of the Maldives Parliament Eva Abdulla sought information regarding the monetary reserve of the Maldives when she cross-questioned, Finance Minister, Ibrahim Ameer. MP Eva has risen her serious concerns amid growing public concerns after JP Morgan’s Emerging markets strategist Trang Nguyen flagged eight countries including the Maldives as in immediate default danger. The most recent figures by the Ministry of Finance also uncover public debt has increased to over MVR98 billion and is MVR182,943 per capita.
06 June 2022, The Government of Maldives condemned the recent derogatory remarks made by India’s ruling Bharatiya Janata Party (BJP)'s spokeperson, Nupur Sharma. In a short three-paragraph statement by the Ministry of Foreign Affairs, the government expressed, "the Government of Maldives is deeply concerned by the derogatory remarks made by some officials of BJP, India, insulting the holy Prophet Muhammed (PBUH) and the religion of Islam".
06 June 2022, Maldives Parliament voted today to remove High Court Judge Abdullah Hameed. The Judicial Services Commission (JSC) sent the issue to the Parliament following a review, however the Judiciary Committee of the Parliament has resolved the issue to be returned back to JSC, as there were procedural failures in the review process. In today's session, 48 members voted to ignore the Committee's Report, and later in a separate vote to remove the Judge, 58 members voted in favour.
05 June 2022, Finance Minister Ibrahim Ameer has denied recent reports regarding possible sovereign debt default, as a result of increasing government debt. Ameer assured that foreign reserves will reach pre-COVID levels by the end of 2022, and there are no short-term challenges in debt repayment obligations.
