The Ministry of Economic Affairs has said that some people are trying to undermine the confidence of the banking and financial system in the Maldives, in an attempt to hinder the government's economic reforms.

The Ministry of Economic Affairs issued a statement today, stating that rumors on social media claiming that the Maldives is participating in a package offered to bankrupt countries by the IMF are completely baseless.

The government will maintain the public interest of the banking system, the services to be provided to the people, and confidence in the financial system as the Maldives works to build a strong economy sustainably, it said.

The ministry said in a statement that the Maldivian economy will continue to grow in the coming days despite the challenges facing the economy. Therefore, he urged the people not to spread untrue stories that could undermine the efforts of all to strengthen the economy and build confidence in the system.

The Maldivian debt currently stands at MVR 124 billion. This is more than 100 percent of Maldives' productivity.