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Minister of Tourism Ibrahim Faisal announced that the government has successfully recovered USD 5 million (MVR 77.1 million) in outstanding tourism receipts over the past 17 days.

Speaking at the Independence Day celebration on Friday evening, President Dr. Mohamed Muizzu revealed that the government is owed USD 513 million from various debtors. He attributed the substantial outstanding sum to the previous administrations’ failure to recover it, emphasizing that recovering these funds could significantly alleviate the Maldives’ current economic challenges.

Elaborating on this, Tourism Minister Faisal, during a program on Sangu TV on Saturday evening, stated that the government has initiated efforts to reclaim the funds owed by tourist resorts. The total amount owed by these resorts stands at USD 78.5 million. Faisal mentioned that the ministry is engaging with all relevant businesses and tourism entrepreneurs to recover this amount through a cooperative approach.

Faisal confirmed that USD 5 million has already been recovered from the total owed by tourist resorts. He further highlighted that USD 173 million from in-development resorts is part of the outstanding receivables, for which the state is offering lenient repayment options.

He warned that the government might resort to legal action if businesses fail to repay despite the offered leniencies. Faisal projected that the recovery of the outstanding total could be achieved within five years.

According to the minister, this administration is committed to recovering the owed money through responsible policies.

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