President Dr Mohamed Muizzu met with United Nations Secretary-General António Guterres on Sunday, where they discussed key challenges confronting the Maldives, including fiscal issues and climate change adaptation.
The meeting, held on the sidelines of the 79th United Nations General Assembly at UN headquarters, focused on the Maldives’ fiscal reform agenda aimed at reducing national debt and restoring economic stability. Muizzu highlighted the need for support from international partners to help the country meet its goals.
Guterres commended the Maldives for its efforts in addressing global challenges, particularly climate change adaptation, and expressed his commitment to supporting the nation’s continued progress.
Muizzu’s meeting with the Secretary-General followed his participation in a high-level side event on Sunday, where he called for stronger ties between debt relief and climate finance to address the growing debt burden of Small Island Developing States (SIDS). Speaking as co-chair of the Strategic Advisory Group for the SIDS Debt Sustainability Support Service (DSSS), Muizzu highlighted the vulnerability of SIDS and their ongoing struggles with debt sustainability.
He advocated for a more integrated approach to debt relief and climate finance, urging the DSSS to secure more favorable conditions, including lower interest rates and extended repayment periods. He also proposed reallocating Special Drawing Rights (SDRs) through international financial institutions to enhance financial stability and reduce exposure to external shocks.
Muizzu stressed the importance of partnerships with Multilateral Development Banks (MDBs) and International Financial Institutions (IFIs) to unlock investments and create new economic opportunities for SIDS. He called for economic diversification and strengthening institutions to help SIDS build resilience in an increasingly volatile global economy.
The side event, titled “Building Resilient Futures: The Global SIDS Debt Sustainability Support Service,” was co-chaired by the governments of the Maldives, Antigua and Barbuda, and New Zealand, in partnership with the International Institute for Environment and Development (IIED) and the United Nations Department of Economic and Social Affairs (UN DESA).
