The government defended the central bank’s investment in the pension fund to purchase government treasury bonds. The reported 2.5 billion (US$ 162 million) transaction was "not a form of monetisation or money printing," an unnamed finance ministry official told Mihaaru, describing it as "a move to maintain financial stability" and "a common resource used internationally in managing liquidity as best as possible for the economy.” According to the official, MVR 9 billion owed to private contractors was inherited from the previous administration and a "large portion of the funds that will be acquired will be spent on past projects that have gone unpaid."
"Piled up" outstanding bills of MVR 2 billion will be settled over the next two weeks, President Muizzu pledged in Laamu Fonadhoo. "I am doing this while fulfilling the other pledge I made as well. That is to not print money. [We're doing it] without printing money," he insisted.
The central bank's "unlawful" printing of MVR 2.5 billion to finance government expenditure would devalue the Rufiyaa and cause prices to surge, the opposition MDP warned, contending that the move violates established principles for pension fund investments and contravenes both monetary policy and the fiscal responsibility law.
After interviewing eight candidates, parliament’s independent institutions committee recommended the appointment of former Broadcasting Commission president Sofa Shafeeq, former member Aminath Sharahath Izzath, and former Media Council secretary general Mohamed Farusath to the new Maldives Media and Broadcasting Commission. Based on the committee’s evaluation, they scored between 88 and 90 marks whilst the other candidates all scored below 75 marks. However, the chosen candidates could not be put to a vote due to a lack of quorum in the chamber during voting time at Monday’s sitting.
During President Muizzu's visit to Fonadhoo, the Maldives Airports Company Ltd was contracted to redevelop and operate the Kadhdhoo airport. The project involves the reclamation of 114 hectares of land for a 2,800-metre runway, the president said in his address to the community. Speaking in Maavah on the first stop of his three-day tour of Laamu atoll, President Muizzu reiterated his pledge to develop a second airport in the atoll. The location will be chosen based on proximity to resorts, he said, promising to make the announcement soon.
Heavy rainfall linked to the southwest monsoon impacted 14 islands across the Maldives over the past two weeks, causing widespread flooding and damage to homes and electrical appliances. The Disaster Management Authority evacuated one house in Kulhudhuffushi. It was in the process of assessing damage across affected areas to arrange compensation. Weather-related disruptions have also halted transport and maritime services, with authorities urging caution at sea as rough weather conditions persist.
The finance ministry ordered the Information Commissioner's Office to cease paying living allowances to staff, citing violations of public finance rules and the national pay policy. The move came after an audit revealed ICOM had been providing the allowance since January 2024. The ministry indicated it would seek to recover the money. In May, ICOM authorised staff to work from home because of the poor working environment.
The criminal court extended the remand of Muaz Ali, a senior MIFCO official detained over the theft of two containers with 1,360 cigarette cases from the Hulhumalé port, for an additional 10 days.
Galolhu North MP Mohamed Ibrahim submitted a resolution seeking to extend Aasandha health insurance coverage to foreigners married to Maldivian citizens. Foreign spouses who permanently reside in the country contribute to society but face healthcare challenges due to their ineligibility for the state insurance scheme, he said.
