Economic Minister Mohamed Saeed stated that approximately MVR 4 billion of the MVR 8.7 billion received as COVID-19 relief aid remains unaccounted for, with details expected to emerge following an audit.

Speaking at the government’s ‘Haftha 52’ programme, Saeed highlighted that the Maldives received USD 565 million (MVR 8.7 billion) in grants from international entities for COVID management. However, only MVR 4.2 billion has been reported in COVID-related expenditures, raising questions about the missing funds.

Saeed noted that while the government does not pursue arrests for political purposes, any misuse of state funds should be investigated to maintain public trust. He further revealed that President Dr Mohamed Muizzu inherited a challenging fiscal situation upon taking office, with state-owned companies heavily indebted, a critically low reserve, and only USD 3 million remaining in the Sovereign Development Fund out of a previous USD 200 million.