In response to a wave of unfounded rumors and misinformation regarding the economic state of Maldives, the Ministry of Economic Development issued a press release today, vehemently denying any attempts to undermine the credibility of the country's banking and public finance system.

The press release, made through the official page of Ministry of Economic Development and Trade social media platform X, addresses the concerted effort by certain parties to spread baseless allegations that aim to tarnish the reputation of the Maldivian financial sector.

The government strongly asserts that these claims are entirely false and part of a deliberate attempt to derail the significant economic and fiscal reforms initiated by the government.

The government assures the public that it remains committed to maintaining public interest and order within the banking system while concurrently implementing essential public services.

Despite fiscal constraints inherited from the past, the government claims that the real economy is performing better than expected, citing recent reports by development partners on economic progress.

One of the key issues addressed in the press release is referring to circulation of rumors suggesting the Maldivian government's pursuit of assistance through an International Monetary Fund (IMF) program, a claim the government categorically denies.

Economic Minister Mohamed Saeed took to social media platform X on Friday to address these speculations directly.

 He further pointed out that some individuals are attempting to undermine the credibility of the financial system out of political frustration.

The government urges all parties to refrain from spreading untrue and baseless rumors, emphasizing the importance of collective efforts to streamline and build confidence in the country's economy.

The press release aims to counteract the negative narratives circulating on social media platforms and reaffirm the government's commitment to economic stability and progress in the Maldives.