The President’s Office Spokesperson, Mohamed Hussain Shareef, has defended the recent Fitch credit rating upgrade, stating that even incremental signs of recovery represent a significant success for the Maldivian economy.

Speaking at a weekly press briefing, Shareef responded to criticisms from former President Abdulla Yameen, who had downplayed the rating adjustment. Shareef highlighted the fragile state of national finances inherited by the current administration, noting that while the current climate does not yet call for grand celebrations, the Fitch upgrade serves as clear evidence of growing confidence from international financial institutions and development partners.

Using a medical metaphor to counter Yameen’s remarks, the Spokesperson stated, “A patient blinking their eyes is the first sign of successful treatment. The day that patient is fully recovered and discharged—marked by large-scale investments—will be the day the nation celebrates.”

Shareef also addressed narratives regarding potential bankruptcy, characterizing such rhetoric as damaging to the nation’s future. He emphasized that economic collapse would not only impact the sitting government but would also burden future administrations. He confirmed that the government has successfully serviced nearly $1 billion in debt without defaulting since taking office.

The Spokesperson concluded by noting that the positive shift in Fitch’s rating is vital for restoring foreign investor confidence, reinforcing the government’s resolve to stabilize and revitalize the Maldivian economy.