Amount in foreign reserves can be disclosed: Nasheed

Parliament Speaker Mohamed Nasheed has said the amount of money in the state's reserves as of October will be announced.

Nasheed was the statement in Parliament today after Maduvveri MP and PNC Vice President Adam Shareef requested via a letter, to disclose the number of funds available in the country's reserves.

In his letter, Shareef said the government has been accused of waste, corruption, and mismanagement of state finances for the past four years. He said the public is concerned that the government is not disclosing the latest accurate information about the country’s financial situation.

“There is also concern among the people that the government debt is increasing year on year and the country does not have enough financial resources to import necessities such as staple foods and oil,” Adam said in his letter.

Adam Shareef’s letter asked to disclose the amount in the foreign reserves in 2022 before next year’s budget is passed.

Responding to Adam's letter, Nasheed said he knew the amount of money in the foreign reserves and said the information could be disclosed.

"I can write another letter to the Governor of the MMA and disclose the amount as per honorable members' request. Otherwise, I can tell you how to calculate usable reserves from gross reserves," Nasheed said.

Nasheed said Adam Shareef had asked to clarify whether there was enough money in the foreign reserves for necessary imports and that he would give the information.