Minister of Finance and Public Enterprises Hassan Zareer has underscored the importance of strong and sustained cooperation among government institutions in safeguarding the Maldives’ economic resilience and supporting long-term national stability. He made the remarks while addressing the ceremony held to launch the Maldives Monetary Authority’s Financial Sector Awards, where he spoke on the importance of coordinated efforts in strengthening the country’s financial foundations and guiding the economy towards sustainable growth.
In his address, Minister Zareer stated that close collaboration between the Maldives Monetary Authority, the Ministry of Finance and Public Enterprises, and other relevant institutions remains essential to the successful implementation of fiscal and monetary policies. He noted that such coordination is necessary to maintain financial stability, promote sustainable economic progress, and ensure that policy measures are designed in a manner that does not place an undue burden on the public. He emphasised that sound institutional partnership is one of the most important factors in creating a balanced and resilient economic environment for the country.
The Minister further stated that the Maldives must continue pursuing structural reforms to address ongoing economic challenges, strengthen the financial system, and improve the country’s ability to respond to both domestic and external pressures. He explained that while some of these reforms may require difficult decisions, they are necessary in the broader national interest and for the wellbeing of future generations. He stressed that responsible policy direction and institutional coordination remain central to building an economy that is more adaptable, confident, and secure over the long term.
Referring to the recent successful repayment of the sovereign sukuk, Minister Zareer described it as a strong example of prudent financial management and effective coordination among national institutions. He said the repayment has contributed positively to investor sentiment and strengthened the Maldives’ fiscal indicators. According to the Minister, the achievement has supported a gradual decline in the country’s debt-to-GDP ratio, contributed to an improved sovereign credit rating, and helped reinforce growing confidence among investors and international financial stakeholders in the Maldives’ economic direction.
Minister Zareer also highlighted the important role played by the Maldives Monetary Authority in supporting the government’s broader financial and economic objectives. He credited the central bank for its continued cooperation with the government in maintaining financial stability and advancing national economic priorities. He also praised the institution for its long-standing contribution to the development of the Maldives’ financial system over the past 45 years, noting that the Authority has earned the trust of the public through its consistent role in strengthening the country’s monetary and financial landscape.
The launch of the Financial Sector Awards was presented as a timely occasion to reflect on the progress of the Maldives’ financial sector and the importance of institutional excellence in shaping its future. Minister Zareer’s remarks conveyed confidence in the country’s economic trajectory and highlighted the value of coordinated governance, responsible reform, and strong public institutions in supporting a stable and sustainable future for the Maldives.
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