Maldives President Dr. Mohamed Muizzu on Wednesday, has expressed strong confidence in the effectiveness of the Debt Sustainability Support Service (DSSS) in addressing the urgent climate financing needs of Small Island Developing States (SIDS), such as the Maldives.
The President made these remarks while delivering the opening address as Co-Chair of the Strategic Advisory Group of the SIDS. He said the operationalization of the DSSS will “undoubtedly serve as a catalyst for a new era of sustainable development across SIDS.”
Muizzu also highlighted that a significant proportion of SIDS is either already experiencing, or are at the brink of, debt distress. He added that these countries are facing these financial plights while grappling with urgent climate financing needs.
The Maldives head of state also emphasized that achieving debt sustainability is crucial in realizing the resilient development aspirations set out in the Antigua and Barbuda Agenda for SIDS (ABAS).
President Muizzu also reiterated that resolving debt issues is key “not only achieving sustainable development in SIDS, but also to tackling the interlinked challenges for climate change, environmental degradation, and pollution.”