The Minister of Finance and Public Enterprises Hassan Zareer has urged government institutions to deepen their cooperation to strengthen the country’s economic resilience.
The minister made the remarks at the launch of the Maldives Monetary Authority (MMA) Financial Sector Awards. He said that the Maldives central bank, the Finance Ministry, and other state institutions must work tightly to deliver fiscal and monetary policies that secure financial stability, and sustainable growth.
He stressed that these policies should not place an excessive burden on the public.
Zareer also pressed for structural reforms to tackle economic challenges and reinforce the financial system. He acknowledged that some reforms will demand difficult decisions, but the government must be willing to make them in the national interest and for the benefit of future generations.
The minister cited the recent repayment of the sovereign sukuk as proof of sound financial management and effective coordination between institutions. He said the repayment has strengthened investor confidence and lifted the country’s fiscal indicators.
The Debt-to-GDP levels are now on a steady decline, the sovereign credit rating has improved, and international financial confidence is growing.
Zareer credited the central bank for its role in maintaining financial stability and supporting government policy. He commended the central bank for 45 years of contribution to the development of the Maldivian financial system.