Former President Mohamed Nasheed has emphasized that rather than investigating which administration is responsible for the Maldives’ current debt crisis, the focus must shift toward finding collective solutions.

Speaking on Sangu TV’s “Khabarahfahu” program, Nasheed noted that with the black market exchange rate for the US Dollar reaching MVR 21, the current administration appears unable to stabilize the currency. He described the immense burden of debt servicing as the nation’s primary financial challenge, despite revenue being earned in dollars.

“It is no longer meaningful to look back and ask who did this. The reality is that the Maldives is in significant debt,” Nasheed stated during the interview.

Nasheed further warned that the national situation could deteriorate unless the government engages in consultations with the Maldivian Democratic Party (MDP). He expressed confidence that both he and the MDP possess the necessary strategies and expertise to navigate the ongoing financial crisis.

Statistical data indicates that the national debt rose most sharply during the administration of former President Ibrahim Mohamed Solih, reaching MVR 126 billion by the end of his term—MVR 60 billion of which was accumulated within those five years. In comparison, debt accumulated under President Yameen stood at MVR 22.1 billion, President Nasheed at MVR 17.3 billion, and President Maumoon Abdul Gayoom at MVR 5.7 billion.