'Maldives' economy in trouble': Muizzu says can't launch development projects due to high debt - Business Today

'Maldives' economy in trouble': Muizzu says can't launch development projects due to high debt  Business Today

Maldives President Mohamed Muizzu on Tuesday said he cannot launch any new development projects due to the debt situation in the country. He said he did not want to mislead the public about the economic situation that his administration "inherited", according to Male-based news outlet Adhadhu.

Muizzu had to disclose the real state of the economy as he was under pressure from the people who had been complaining about stalled projects in the archipelago nation. "The next two months will be the most difficult. This is the most critical time," he said during a visit to one of the country's islands, Guraidhoo. "It will become much easier after July. But we're starting now to do the work necessary to earn income.