The Maldives, a beautiful island nation, faces serious economic trouble. Its cash reserves are down to $440 million, barely enough for six weeks of imports. The country owes $8.3 billion, including $1.3 billion to China, and risks missing debt payments. A dollar shortage is hurting businesses, with the government limiting foreign money, leading to a black market.
To tackle this crisis, President Mohamed Muizzu has held five major Invest Maldives Forums in China (Jan 2024), Dubai (Feb 2024), Malaysia (Apr 2025), Singapore (Jul 2025), and the UK (Jul 2025). But are these trips saving the economy or just wasting money?
What the Forums Promised
Muizzu’s team says these forums will bring in foreign money to help the Maldives. In China, they promoted fish exports and a trade deal. In Dubai, they highlighted big projects like Velana Airport and special business zones. Malaysia was pitched 52 plans, including tourism and clean energy. Singapore introduced a program for wealthy people to live there, aiming for $6 billion over five years. The UK forum repeated these ideas. A new law in December 2024 promises to protect investors, and Minister Mohamed Saeed says the process is open and clear.
Not Enough Results
The forums haven’t delivered much. By July 2025, only $680 million in business zone plans have been reported, far less than the billions promised. The government hasn’t shared how much each forum brought in, and the $6 billion Singapore plan is still just a hope. Critics say these trips produce more talk than action. Meanwhile, the economy is getting worse. The Maldives must pay $1.5 billion in debt soon, including $25 million in October 2024. Help from India ($100 million) and China ($130 million plus a debt delay) gives short-term relief but doesn’t fix the bigger issues. Experts warn the Maldives could face a crisis like Sri Lanka’s in 2022.
Spending in the Wrong Places
The forums cost a lot—planes, hotels, and big events—but the government won’t say how much. This secrecy upsets people, especially with rising prices (3.5%) and a budget shortfall (12.3%). The government spends $65 million a month on too many ministers and staff. It also spent $7 million on a drone show for a new airport terminal. Such spending feels out of touch when people are struggling. The Maldives’ drop to 93rd on a 2023 list measuring government trust shows growing public frustration.
What the Maldives Needs
The Maldives needs real solutions, not flashy trips. Experts suggest cutting wasteful spending, improving state businesses, and helping those in need. The forums seem like expensive shows that don’t bring results. Muizzu must focus on real investments and open spending to save the economy. Without these changes, the Maldives risks falling deeper into crisis.
