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MDP President Abdulla Shahid has accused the government of effectively printing MVR 2.4 billion through Pension Fund investments in T-bills, warning it could increase inflation and weaken the economy.
Mariyam Adheela
Then-Foreign Minister Abdulla Shahid speaking at the campaign rally held in Kulhudhuffushi City -- Photo: MDP
Maldivian Democratic Party (MDP) President Abdulla Shahid has accused the government of effectively printing MVR 2.4 billion through the investment of Pension Fund money in government Treasury Bills (T-bills).
In a post on X, Shahid claimed that the Maldives Monetary Authority’s (MMA) investment in government T-bills through the Pension Fund is similar to directly printing money.
ޕެންޝަން ފަންޑު މެދުވެރިކޮށް އެެމްއެމްއޭ އިން ސަރުކާރުގެ ޓީ-ބިލް ގައި އިންވެސްޓްކުރުމަކީ ސަރުކާރުން ސީދާ ފައިސާ ޗާޕްކުރުން. މިކަމުގެ ސަބަބުން އިންފްލޭޝަން މަތިވެ، ދިވެހި ރުފިޔާގެ އަގު އިތުރަށް ވެއްޓި ޑޮލަރު ލިބުން ދަތިވެ ޑޮލަރުގެ އަގު އިންތިހާއަށް މަތިވެގެންދާނެ. ޕެންޝަން…
— Abdulla Shahid (@abdulla_shahid) July 23, 2026
Shahid alleged that the move could increase inflation, further weaken the Maldivian Rufiyaa, create shortages of US dollars, and push the dollar exchange rate to very high levels.
He also criticized the decision while
pointing to the resignations of Pension Office board members and senior staff, claiming it could damage the country’s financial system and affect the future of the people.
Shahid said it was regrettable that President Dr Mohamed Muizzu had broken his pledge not to print money and accused the government of taking actions that could harm the economy.
The government has not yet responded to Shahid’s allegations.
