President Muizzu Must Own the Crisis He Promised to Fix

For the average Maldivian household, the daily trip to the local market has become full of worry. Promises of financial stability and a fixed dollar exchange rate have faded away under President Dr. Mohamed Muizzu’s watch, leaving ordinary people to pay for a growing cost-of-living crisis.

At the center of the country’s struggle is a severe dollar shortage that shows a basic lack of management. While official statements by this government claim the economy is doing well, the actual black-market rate for U.S. Dollars has reached historic highs. For a country that imports almost everything—from everyday food items to medicine—this dollar shortage acts like a hidden tax. Local shopkeepers, unable to get foreign cash from banks, have no choice but to buy expensive dollars on the street and pass those extra costs straight to everyday shoppers.

To make matters worse, the government's main strategy seems to be pointing fingers. At every turn, officials place the blame on the previous government, pointing to old debts and past mistakes. But making excuses is not leadership. President Muizzu ran for office promising to fix the economy, solve the dollar shortage, and stop the black market. Blaming others when you ran on a promise to make things better is a refusal to take basic responsibility.

Rather than fixing these root problems, the administration is moving toward dangerous shortcuts, including indirect money printing schemes through bond deals. Key leaders at the Pension Office—including the CEO, the board chairman, and top financial officers—resigned in protest over these moves, warning that printing money would wreck the economy and harm public savings. Yet, the president pushed forward anyway, ignoring their warnings.

Instead of using sensible money plans, the administration shows a clear lack of experience. The government has put strict limits on dollar spending for ordinary citizens and students living abroad, while at the same time giving out hundreds of paid political jobs to supporters. Cutting back services for struggling families while hiring political friends is not good management, it is plain neglect.

A country cannot run on excuses and bad choices. President Muizzu asked for the power to fix the economy; it is time he steps up, listens to experts, and takes responsibility. Until the government replaces political blame games with clear, sensible action, everyday Maldivians will continue to suffer.