Economic Minister Mohamed Saeed has said denied rumours being spread on social media that the country's economy has gone bankrupt, and the Government has sought International Monetary Fund (IMF)'s help.

Social media posts on X by Hassan Kurusee account and Dhiyavaru News said the government was in talks to change the country's financial system to seek IMF help as the country was in doldrums.

When contacted, Saeed told 'One' last night that it was untrue and that the country's economy was growing and that the Maldives should not participate in an IMF programme.

"This is absolutely false and politically frustrated people are making statements to undermine the credibility of the country's financial system," Saeed said.

Last Monday, Saeed had said that the country's economy would grow by 5.5 per cent this year. He added that when President Dr. Mohamed Muizzu took office, the previous government had pushed the country's finances to a dangerous level.

"Inshallah the country's economy is expected to grow by 5.5 per cent this year," Saeed said in a statement.

Saeed also claimed that funds are now being deposited in the Sovereign Development Fund (SDF) in USD.