World Bank is ‘jealous’ of Maldives progress, says ruling party MP
A ruling party lawmaker has slammed a damning World Bank report on the state of the Maldivian economy as an act of jealousy, while ministers said the report was “proof that the government’s megaprojects are indeed happening,”
12 May 2016, 9:00 AM
A ruling party lawmaker has slammed a damning World Bank report on the state of the Maldives’ economy as an act prompted by jealousy.
MP Riyaz Rasheed of the Progressive Party of the Maldives said Wednesday that the World Bank “is jealous of the progress and development” brought by President Abdulla Yameen’s administration.
The report had expressed concern over high public debt owing to large infrastructure projects, widening fiscal and current account deficits and high youth unemployment.
The economy slowed to just 1.9percent last year, the weakest showing since the global recession of 2009, the report said. Growth was dragged down by a slump in tourist arrivals and a number of cancellations following a state of emergency in November, it added.
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