Maldives recovers $5 million debt from tourism businesses

The government has recovered $5 million (MVR 77.1 million) from the tourism industry in the past 17 days, Tourism Minister Ibrahim Faisal said on Saturday.

Addressing the nation at the Independence Day celebrations on Friday evening, President Mohamed Muizzu said the state lost $513 million due to the negligence of previous governments.

The president said that the money alone would solve the debt problems faced by the Maldives.

Faisal told Sangu TV on Saturday that work has begun with the resorts to recover the money owed to the state.

Faisal said the state should receive $78.5 million from the existing resorts. He mentioned that the money is being raised through talks with tourism businessmen in a friendly environment.

He stated that the state has received $5 million so far by sending notices to resorts that owe money.

The minister said:

• $173 million has not been received from the islands where the resorts are being built.
• The government will provide businesses with easy ways to pay in instalments.
• If they do not pay the money within the agreed period, the government will go to court to recover the money.

“Now we are working to recover the money. The state has raised $5 million in the last 17 days. We are trying to introduce a way for the businessmen to pay the money within five years at the latest. This money should be paid to the state,” Faisal said.

He added that the government will work to recover the money owed to the state from the tourism industry through strong regulations. Faisal said:

• The tourism industry has not received such a large amount of money due to the negligence of the tourism ministers of previous governments.
• Resort owners have been given relief without any rules.

“I have no interest in this. I dare to do this. This is not my money or President Muizzu’s money. This is the people’s money. So when I forgive people money like that, it is against my oath,” Faisal said.

At the Independence Day function, President Muizzu said on Friday that the government has started working to recover the money owed to the state.