Policies should not challenge financial institutions

Tuesday, 9 November 2010 04:20 - - {{hitsCtrl.values.hits}}

MALE: Minister of Finance Ali Hashim has said that Maldives financial policies should not be made by challenging financial institutes such as the international establishment known as the International Monetary Fund (IFM).

Minister Ali Hashim told Miadhu Daily that Maldives government has terms with International financial institutes to take their advice and guidance in making financial politics.

“IMF has not suspended their standby arrangement aimed at assisting the Maldives in overcoming the economic challenges.

They only gave the opportunity to come to a resolution because the government has been obstructed in making the policies,” he said.

Ali Hashim further noted that one of the main reasons for not gaining the expected state revenue was because of the procrastination of bills in the People’s Majlis. He also noted that the other reason is the failure of standardization state employees and cutting down the number of employees.

“We have been working in line with the guidance of IMF. Our policies are made under their guidance. If they ask us to take a pause in a certain matter we accept it. This is since then we would be given the aid when the time of need comes,” Ali Hashim said.