The Money Borrowed will be Paid by this Administration: President Yameen

The loans borrowed by this administration are for the purpose of bringing development  to the nation and will be paid by this administration, said President Abdulla Yameen

Addressing at the ceremony ‘Maves PPM’ held at Dharubaaruge to welcome newly signed members to the ruling party PPM, President Yameen said that the opposition has been spreading baseless rumors that the debt of this administration will even hang on the heads of the unborn children. He said that the loans are taken to fulfill the needs of the citizens.

He also said that his administration has worked towards improving our country’s financial situation.

“We had cleared a total of 13 billion to our creditors, while having accumulated only 14 billion. Therefore, the amount that my administration accumulated in debt is just one billion”

President Yameen said.

The former President Mohamed Nasheed’s administration created a debt of MVR 24.5 billion within his 3 years of presidency. A debt of MVR 8.17 billion per year. During President Yameen’s administration the debt increased by MVR 14.5 billion, MVR 3.63 billion per year.