Maldives is set to reach an agreement with Singapore's AstraZeneca Singapore PTE LTD to acquire the COVID-19 vaccine developed by AstraZeneca and Oxford University.

A ‘public finance declaration’ signed by Finance Minister Ibrahim Ameer which was released today stated that the Maldivian government has made the decision to sign an agreement with AstraZeneca Singapore PTE LTD to procure the vaccine.

It also added that the vaccine is in high demand due to the ongoing COVID-19 pandemic and that it is available for procurement only from specific parties, and released globally in accordance with specific procurement policies.

In order to procure the vaccine, temporary suspension of some of the provisions of the Public Finance Regulation have been announced in the declaration as well.

The provisions which will be temporarily suspended are;

- Article 10.43

- Article 10.52

- Article 10.67

- Article 10.71

The provisions will only be suspended with respect to the agreement which will be signed with AstraZeneca for the procurement of the vaccine, and for the duration of the agreement.