Finance Minister Moosa Zameer stated on Thursday that the international community no longer views the Maldives as being at risk of bankruptcy, highlighting that the nation has successfully restored international trust and financial credibility.

Speaking at a ceremony held to award 206 government projects to private companies, Minister Zameer said the current administration has repaid over USD 1 billion from the substantial debt inherited two years ago. He added that the state recorded a budget surplus during the first 40 weeks of this year, which he attributed to responsible fiscal management.

Minister Zameer further noted that the government continues efforts to settle unpaid dues owed to contractors and suppliers.

He emphasized that only companies with proven capacity to execute projects will be awarded new contracts moving forward.

Highlighting the importance of the newly signed projects, Zameer said they aim to address the needs of families across the islands  including safe harbors, improved schools, better healthcare services, and modern waste management systems.

The 206 projects signed on Thursday are to be implemented under contractor financing arrangements, with a clear framework to ensure accountability and performance-based payments.

The Finance Minister also assured that the government will continue to provide the necessary funds to companies undertaking national projects, stressing that today’s agreements mark another step toward sustainable development in the Maldives’ housing, education, and health sectors.