The Maldives government on Wednesday announced that the outstanding loans, issued for various individuals post the 2004 tsunami crisis for “infrastructural repair purposes” have been paid off and pardoned as part incumbent president Ibrahim Mohamed Solih’s executive action.
Maldives state on Wednesday declared that the decision comes after carefully reviewing the challenges and difficulties faced by individuals with outstanding loans – which was assessed against the elapsed time without proper settlement.
As part of the executive action by the current administration, the government has paid off 50% of the outstanding debt owed by anyone who acquired loans post the tsunami crisis for the aforementioned purposes.
Government has in fact paid MVR15.2 million of the outstanding total of MVR30.4 million and the Bank of Maldives has pardoned the remaining MVR15.2 million – pardoning any unsettled loan debt.