President Nasheed in his 93rd radio address to the nation, hjas expressed his gratitude to the public and the bsiness community for their understanding of his devaluation of the Maldivian Rufiyaa, and the confidence and trust in the government shown by the public and the business community. He said expressed his sincere thanks to their patience.
The President is quite convinced that the US Dollar rate will fall below the median value of the exchange rate band announced by the government last week, in a short period of time. The president has however backtracked from the earlier line in the media as the newsbroke and drove the market into a panic, saying that the decision by the MMA Board was not following an order by him or the government.
The President also noted that, though there are rumors spreading in the country, he in convinced that there will not be a wholesale increase of the prices of products and services. He has he has been informed by businessman of there is no alarming price hikes.
The President concluded his radio address by reiterating his belief that since all monetary and fiscal policy interventions are now in place, we will be on the road to economic prosperity in a short span of time. The President also reiterated that his commitment that his government’s only purpose is to serve the people.