Minister of Tourism Ibrahim Faisal announced that the government has recovered USD 5 million (MVR 77.1 million) in outstanding tourism receipts in the past 17 days.
During the Independence Day function, President Dr. Mohamed Muizzu revealed that the government is owed USD 513 million from various debtors, largely due to previous administrations’ failure to collect it. Recovering this amount could alleviate the Maldives’ economic challenges.
Speaking on Sangu TV, Minister Faisal stated that efforts are underway to recover USD 78.5 million owed by tourist resorts. He confirmed the recovery of USD 5 million so far and emphasized a friendly approach in dealing with businesses.
Additionally, USD 173 million is owed by in-development resorts, with the government offering lenient repayment options. Faisal warned of potential legal action if debts are not repaid despite these leniencies and projected recovery within five years.
The administration aims to recover the outstanding money through responsible policies.
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